1,219,100 Shares in Pembina Pipeline Corp. $PBA Bought by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor purchased 1,219,100 shares of the pipeline company’s stock, valued at approximately $54,551,000. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.21% of Pembina Pipeline at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Tobam purchased a new stake in shares of Pembina Pipeline in the fourth quarter worth about $28,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Pembina Pipeline in the third quarter valued at about $31,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of Pembina Pipeline during the 4th quarter valued at about $36,000. Larson Financial Group LLC raised its holdings in shares of Pembina Pipeline by 32.4% during the 3rd quarter. Larson Financial Group LLC now owns 1,059 shares of the pipeline company’s stock valued at $43,000 after buying an additional 259 shares during the period. Finally, IFP Advisors Inc raised its holdings in shares of Pembina Pipeline by 74.8% during the 4th quarter. IFP Advisors Inc now owns 1,199 shares of the pipeline company’s stock valued at $46,000 after buying an additional 513 shares during the period. 55.37% of the stock is owned by hedge funds and other institutional investors.

Pembina Pipeline Stock Up 0.3%

Shares of NYSE PBA opened at $51.37 on Friday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.68 and a current ratio of 0.83. Pembina Pipeline Corp. has a 1 year low of $35.45 and a 1 year high of $51.58. The stock’s 50-day simple moving average is $48.33 and its 200-day simple moving average is $44.99. The firm has a market cap of $29.87 billion, a price-to-earnings ratio of 26.75 and a beta of 0.57.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last issued its quarterly earnings results on Thursday, May 7th. The pipeline company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.07. Pembina Pipeline had a return on equity of 11.47% and a net margin of 22.22%.The firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the prior year, the business posted $0.80 earnings per share. Pembina Pipeline’s revenue for the quarter was down 7.7% on a year-over-year basis. As a group, equities analysts anticipate that Pembina Pipeline Corp. will post 2.2 earnings per share for the current fiscal year.

Pembina Pipeline Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were given a $0.735 dividend. This represents a $2.94 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date of this dividend was Monday, June 15th. This is a positive change from Pembina Pipeline’s previous quarterly dividend of $0.71. Pembina Pipeline’s dividend payout ratio is currently 110.94%.

Wall Street Analysts Forecast Growth

PBA has been the subject of a number of analyst reports. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Pembina Pipeline in a report on Friday, July 3rd. Weiss Ratings downgraded shares of Pembina Pipeline from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, July 13th. Scotiabank lowered shares of Pembina Pipeline from a “sector outperform” rating to a “sector perform” rating in a research note on Monday, July 20th. TD Securities reissued a “buy” rating on shares of Pembina Pipeline in a research report on Thursday, July 16th. Finally, Royal Bank Of Canada upped their target price on shares of Pembina Pipeline from $64.00 to $68.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. Six analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Pembina Pipeline has a consensus rating of “Hold” and a consensus target price of $64.00.

About Pembina Pipeline

Pembina Pipeline Corporation (NYSE: PBA) is a North American energy infrastructure company that develops, owns and operates midstream assets that transport, store and process hydrocarbons. Its core business focuses on the transportation of crude oil, natural gas liquids (NGLs) and condensate, along with gas processing, fractionation, storage and related marketing services. Pembina serves producers, refiners and other energy companies by providing pipeline capacity, terminal services and midstream solutions that link upstream production to downstream markets and export facilities.

The company’s asset base is concentrated in Western Canada, including major operations in Alberta and British Columbia, and it also has operations and commercial activities that extend into the United States.