Vanguard Group Inc. increased its position in shares of Pembina Pipeline Corp. (NYSE:PBA) by 15.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,234,115 shares of the company’s stock after buying an additional 1,111,679 shares during the period. Vanguard Group Inc. owned about 2.12% of Pembina Pipeline Corp. worth $249,823,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Winslow Evans & Crocker Inc. acquired a new stake in Pembina Pipeline Corp. during the second quarter worth about $137,000. Linscomb & Williams Inc. acquired a new stake in Pembina Pipeline Corp. during the second quarter worth about $209,000. Capital Fund Management S.A. acquired a new stake in Pembina Pipeline Corp. during the second quarter worth about $215,000. Sheaff Brock Investment Advisors LLC acquired a new stake in Pembina Pipeline Corp. during the second quarter worth about $244,000. Finally, Cidel Asset Management Inc. increased its stake in Pembina Pipeline Corp. by 4.0% in the second quarter. Cidel Asset Management Inc. now owns 8,131 shares of the company’s stock worth $245,000 after buying an additional 316 shares during the period. 46.58% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Pembina Pipeline Corp. (NYSE:PBA) opened at 30.17 on Thursday. The company has a market cap of $11.83 billion, a PE ratio of 36.88 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. The stock has a 50 day moving average of $30.24 and a 200-day moving average of $29.59.
Pembina Pipeline Corp. (NYSE:PBA) last issued its earnings results on Thursday, August 4th. The company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $1.50 billion. During the same quarter in the prior year, the business earned $0.09 earnings per share. Pembina Pipeline Corp.’s revenue for the quarter was down 15.3% on a year-over-year basis. Equities analysts forecast that Pembina Pipeline Corp. will post $0.89 earnings per share for the current year.
The company also recently announced a oct 16 dividend, which will be paid on Tuesday, November 15th. Investors of record on Tuesday, October 25th will be issued a $0.16 dividend. This represents a dividend yield of 4.78%. The ex-dividend date is Friday, October 21st. Pembina Pipeline Corp.’s dividend payout ratio is currently 179.27%.
A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. assumed coverage on shares of Pembina Pipeline Corp. in a report on Thursday. They issued an “overweight” rating on the stock. Zacks Investment Research upgraded shares of Pembina Pipeline Corp. from a “sell” rating to a “hold” rating in a report on Tuesday. Canaccord Genuity reiterated a “buy” rating on shares of Pembina Pipeline Corp. in a report on Thursday, September 8th. Scotiabank reiterated an “outperform” rating and issued a $44.00 price objective on shares of Pembina Pipeline Corp. in a report on Wednesday, August 10th. Finally, TD Securities reiterated a “buy” rating and issued a $44.00 price objective (up from $41.00) on shares of Pembina Pipeline Corp. in a report on Wednesday, August 10th. Three analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $41.75.
About Pembina Pipeline Corp.
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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