K.J. Harrison & Partners Inc raised its stake in shares of Pembina Pipeline Corp. (NYSE:PBA) by 0.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,270 shares of the company’s stock after buying an additional 60 shares during the period. K.J. Harrison & Partners Inc’s holdings in Pembina Pipeline Corp. were worth $250,000 as of its most recent filing with the SEC.
A number of other hedge funds have also bought and sold shares of PBA. Bank of Montreal Can purchased a new position in Pembina Pipeline Corp. during the second quarter valued at $330,186,000. Norges Bank purchased a new position in Pembina Pipeline Corp. during the fourth quarter valued at $56,847,000. 1832 Asset Management L.P. raised its position in Pembina Pipeline Corp. by 17.3% in the first quarter. 1832 Asset Management L.P. now owns 10,924,908 shares of the company’s stock valued at $489,370,000 after buying an additional 1,610,362 shares in the last quarter. Sentry Investments Corp. raised its position in Pembina Pipeline Corp. by 51.5% in the first quarter. Sentry Investments Corp. now owns 1,864,055 shares of the company’s stock valued at $65,447,000 after buying an additional 633,850 shares in the last quarter. Finally, Scotia Capital Inc. raised its position in Pembina Pipeline Corp. by 41.3% in the first quarter. Scotia Capital Inc. now owns 1,983,850 shares of the company’s stock valued at $53,570,000 after buying an additional 579,980 shares in the last quarter. Institutional investors own 46.58% of the company’s stock.
Shares of Pembina Pipeline Corp. (NYSE:PBA) traded down 0.86% during midday trading on Monday, hitting $30.01. The stock had a trading volume of 80,870 shares. The firm has a 50-day moving average of $30.31 and a 200 day moving average of $29.28. The firm has a market cap of $11.76 billion, a PE ratio of 36.64 and a beta of 0.68. Pembina Pipeline Corp. has a 12-month low of $17.88 and a 12-month high of $32.31.
Pembina Pipeline Corp. (NYSE:PBA) last issued its earnings results on Thursday, August 4th. The company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.30 by $0.05. Pembina Pipeline Corp. had a return on equity of 7.13% and a net margin of 10.63%. The firm earned $1.03 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same period in the previous year, the company earned $0.09 earnings per share. The business’s revenue for the quarter was down 15.3% on a year-over-year basis. On average, analysts expect that Pembina Pipeline Corp. will post $0.87 earnings per share for the current year.
The company also recently announced a sep 16 dividend, which will be paid on Saturday, October 15th. Shareholders of record on Sunday, September 25th will be given a $0.16 dividend. This represents a yield of 4.93%. The ex-dividend date of this dividend is Wednesday, September 21st. Pembina Pipeline Corp.’s payout ratio is currently 179.27%.
Several equities analysts have recently weighed in on PBA shares. Zacks Investment Research lowered Pembina Pipeline Corp. from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 10th. Credit Suisse Group AG lowered Pembina Pipeline Corp. from an “outperform” rating to a “neutral” rating in a research report on Monday, June 20th. RBC Capital Markets reissued an “outperform” rating and set a $45.00 price target (up from $42.00) on shares of Pembina Pipeline Corp. in a research report on Wednesday, August 10th. Canaccord Genuity reissued a “buy” rating on shares of Pembina Pipeline Corp. in a research report on Thursday, September 8th. Finally, National Bank Financial lowered Pembina Pipeline Corp. from an “outperform” rating to a “sector perform” rating in a research report on Monday, July 18th. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $41.75.
Pembina Pipeline Corp. Company Profile
Pembina Pipeline Corporation (Pembina) is a transportation and midstream service provider. The Company operates through four segments: Conventional Pipelines, Oil Sands & Heavy Oil, Gas Services and Midstream. Pembina owns and operates an integrated system of pipelines that transport various hydrocarbon liquids, including conventional and synthetic crude oil, heavy oil and oil sands products, condensate (diluent) and natural gas liquids (NGL) produced in western Canada and ethane produced in North Dakota.
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