Sheaff Brock Investment Advisors LLC bought a new position in shares of Pembina Pipeline Co. (NYSE:PBA – Get Rating) (TSE:PPL) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 5,495 shares of the pipeline company’s stock, valued at approximately $207,000.
Other large investors have also bought and sold shares of the company. Cyrus J. Lawrence LLC bought a new position in Pembina Pipeline during the 1st quarter worth $31,000. Tobam bought a new position in Pembina Pipeline during the 1st quarter worth $35,000. Bogart Wealth LLC bought a new position in Pembina Pipeline during the 1st quarter worth $45,000. Eaton Vance Management raised its position in Pembina Pipeline by 109.8% during the 4th quarter. Eaton Vance Management now owns 2,322 shares of the pipeline company’s stock worth $47,000 after purchasing an additional 1,215 shares during the last quarter. Finally, Rockefeller Capital Management L.P. raised its position in Pembina Pipeline by 76.4% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,764 shares of the pipeline company’s stock worth $53,000 after purchasing an additional 764 shares during the last quarter. 55.44% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of brokerages have weighed in on PBA. BMO Capital Markets increased their price target on Pembina Pipeline from C$54.00 to C$55.00 in a report on Friday, May 6th. Credit Suisse Group upgraded Pembina Pipeline from a “neutral” rating to an “outperform” rating in a report on Monday, April 11th. TheStreet upgraded Pembina Pipeline from a “c” rating to a “b-” rating in a report on Wednesday, May 25th. Raymond James increased their price target on Pembina Pipeline from C$49.50 to C$50.00 in a report on Friday, May 6th. Finally, Royal Bank of Canada increased their price target on Pembina Pipeline from C$49.00 to C$58.00 in a report on Monday, May 9th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Pembina Pipeline presently has an average rating of “Moderate Buy” and a consensus price target of $52.63.
Pembina Pipeline Stock Performance
Pembina Pipeline (NYSE:PBA – Get Rating) (TSE:PPL) last announced its quarterly earnings results on Thursday, August 4th. The pipeline company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.22. Pembina Pipeline had a net margin of 14.46% and a return on equity of 11.71%. The business had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $2.98 billion. During the same quarter last year, the firm earned $0.32 EPS. The firm’s revenue for the quarter was up 62.7% compared to the same quarter last year. On average, equities research analysts predict that Pembina Pipeline Co. will post 2.27 EPS for the current fiscal year.
Pembina Pipeline Cuts Dividend
The firm also recently declared a monthly dividend, which will be paid on Monday, August 15th. Investors of record on Monday, July 25th will be given a $0.163 dividend. The ex-dividend date of this dividend is Friday, July 22nd. This represents a $1.96 annualized dividend and a yield of 5.53%. Pembina Pipeline’s payout ratio is 107.69%.
Pembina Pipeline Company Profile
Pembina Pipeline Corporation provides transportation and midstream services for the energy industry. 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 3.1 millions of barrels of oil equivalent per day, ground storage of 11 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.
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