PNC Financial Services Group Inc. Raises Position in Pembina Pipeline Corp. $PBA

PNC Financial Services Group Inc. raised its position in Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 15.0% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 28,749 shares of the pipeline company’s stock after acquiring an additional 3,760 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Pembina Pipeline were worth $1,078,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of PBA. Choreo LLC lifted its position in shares of Pembina Pipeline by 6.4% in the first quarter. Choreo LLC now owns 7,421 shares of the pipeline company’s stock valued at $297,000 after acquiring an additional 444 shares in the last quarter. Davis Rea LTD. purchased a new stake in shares of Pembina Pipeline during the first quarter worth approximately $4,432,000. Cetera Investment Advisers raised its stake in Pembina Pipeline by 6.2% in the 1st quarter. Cetera Investment Advisers now owns 48,289 shares of the pipeline company’s stock valued at $1,933,000 after purchasing an additional 2,834 shares during the last quarter. TD Asset Management Inc lifted its holdings in Pembina Pipeline by 2.4% in the 1st quarter. TD Asset Management Inc now owns 6,950,836 shares of the pipeline company’s stock valued at $277,985,000 after purchasing an additional 161,114 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Pembina Pipeline by 2.6% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 144,143 shares of the pipeline company’s stock worth $5,765,000 after purchasing an additional 3,700 shares during the last quarter. 55.37% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PBA. Weiss Ratings reiterated a “hold (c)” rating on shares of Pembina Pipeline in a research report on Wednesday. Raymond James Financial reaffirmed an “outperform” rating on shares of Pembina Pipeline in a research note on Monday, August 11th. Wells Fargo & Company downgraded shares of Pembina Pipeline from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 6th. Wall Street Zen lowered shares of Pembina Pipeline from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Finally, BMO Capital Markets restated an “outperform” rating on shares of Pembina Pipeline in a research report on Monday, August 11th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Pembina Pipeline presently has an average rating of “Moderate Buy”.

Pembina Pipeline Stock Performance

NYSE:PBA opened at $38.56 on Friday. The company’s 50-day moving average is $38.92 and its two-hundred day moving average is $37.92. Pembina Pipeline Corp. has a 1-year low of $34.13 and a 1-year high of $43.44. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.77 and a quick ratio of 0.62. The firm has a market capitalization of $22.40 billion, a price-to-earnings ratio of 18.10 and a beta of 0.75.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last announced its quarterly earnings results on Thursday, November 6th. The pipeline company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.14). The firm had revenue of $911.47 million for the quarter, compared to analyst estimates of $1.42 billion. Pembina Pipeline had a return on equity of 12.27% and a net margin of 23.24%.The firm’s quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.60 EPS. Analysts forecast that Pembina Pipeline Corp. will post 2.15 EPS for the current year.

Pembina Pipeline Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be given a $0.71 dividend. The ex-dividend date is Monday, December 15th. This represents a $2.84 dividend on an annualized basis and a yield of 7.4%. Pembina Pipeline’s payout ratio is currently 101.00%.

Pembina Pipeline Company Profile

Pembina Pipeline Corporation provides energy transportation and midstream services. It operates through three segments: Pipelines, Facilities, and Marketing & New Ventures. The Pipelines segment operates conventional, oil sands and heavy oil, and transmission assets with a transportation capacity of 2.9 millions of barrels of oil equivalent per day, the ground storage capacity of 10 millions of barrels, and rail terminalling capacity of approximately 105 thousands of barrels of oil equivalent per day serving markets and basins across North America.