Scotia Capital Inc. raised its stake in Pembina Pipeline Corp (NYSE:PBA) (TSE:PPL) by 3.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,573,828 shares of the pipeline company’s stock after acquiring an additional 111,687 shares during the period. Pembina Pipeline accounts for approximately 1.6% of Scotia Capital Inc.’s portfolio, making the stock its 13th largest position. Scotia Capital Inc. owned approximately 0.70% of Pembina Pipeline worth $132,234,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of PBA. Parallel Advisors LLC grew its stake in shares of Pembina Pipeline by 350.0% in the 1st quarter. Parallel Advisors LLC now owns 810 shares of the pipeline company’s stock valued at $29,000 after purchasing an additional 630 shares during the last quarter. Cornerstone Advisors Inc. grew its position in Pembina Pipeline by 51.7% in the 2nd quarter. Cornerstone Advisors Inc. now owns 804 shares of the pipeline company’s stock valued at $30,000 after buying an additional 274 shares during the last quarter. Zions Bancorporation N.A. purchased a new position in Pembina Pipeline in the 1st quarter valued at $36,000. Bremer Bank National Association purchased a new stake in shares of Pembina Pipeline in the first quarter valued at about $39,000. Finally, Aperio Group LLC purchased a new stake in Pembina Pipeline in the 2nd quarter valued at approximately $41,000. 52.28% of the stock is currently owned by institutional investors.
Shares of PBA traded down $0.27 on Wednesday, hitting $37.15. 1,442,073 shares of the stock traded hands, compared to its average volume of 734,457. Pembina Pipeline Corp has a 1 year low of $28.30 and a 1 year high of $38.56. The stock’s 50 day moving average is $36.73 and its two-hundred day moving average is $36.74. The company has a quick ratio of 0.62, a current ratio of 0.68 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $18.99 billion, a P/E ratio of 20.99, a P/E/G ratio of 3.68 and a beta of 0.75.
Pembina Pipeline (NYSE:PBA) (TSE:PPL) last issued its quarterly earnings results on Thursday, August 1st. The pipeline company reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.81. Pembina Pipeline had a return on equity of 13.92% and a net margin of 22.20%. The firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same period last year, the company earned $0.43 EPS. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. Research analysts forecast that Pembina Pipeline Corp will post 2.02 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Wednesday, September 25th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.15%. Pembina Pipeline’s payout ratio is currently 102.82%.
Separately, Zacks Investment Research raised shares of Pembina Pipeline from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a report on Tuesday, August 20th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $41.00.
About Pembina Pipeline
Pembina Pipeline Corporation provides transportation and midstream services for the energy industry in North America. It operates through three divisions: Pipelines, Facilities, and Marketing & New Ventures. The Pipelines division operates conventional, transmission, and oil sands and heavy oil pipeline assets with a total capacity of 3 million barrels of oil serving markets and basins across North America through conventional, transmission, and oil sand pipelines assets.
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