5,609,272 Shares in Pembina Pipeline Corp. $PBA Acquired by Norges Bank

Norges Bank purchased a new position in shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) during the fourth quarter, Holdings Channel reports. The firm purchased 5,609,272 shares of the pipeline company’s stock, valued at approximately $213,701,000.

A number of other hedge funds have also recently added to or reduced their stakes in PBA. MUFG Securities EMEA plc purchased a new position in Pembina Pipeline during the 2nd quarter worth approximately $52,514,000. Dimensional Fund Advisors LP grew its stake in Pembina Pipeline by 61.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,328,709 shares of the pipeline company’s stock worth $94,207,000 after buying an additional 887,413 shares during the last quarter. Scotia Capital Inc. grew its stake in Pembina Pipeline by 12.6% during the 3rd quarter. Scotia Capital Inc. now owns 6,425,487 shares of the pipeline company’s stock worth $258,724,000 after buying an additional 717,773 shares during the last quarter. Hillsdale Investment Management Inc. grew its stake in Pembina Pipeline by 187.4% during the 4th quarter. Hillsdale Investment Management Inc. now owns 917,125 shares of the pipeline company’s stock worth $35,002,000 after buying an additional 597,971 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in Pembina Pipeline by 2.2% during the 3rd quarter. Vanguard Group Inc. now owns 26,691,827 shares of the pipeline company’s stock worth $1,079,231,000 after buying an additional 576,845 shares during the last quarter. Hedge funds and other institutional investors own 55.37% of the company’s stock.

Analyst Ratings Changes

PBA has been the topic of a number of research reports. Royal Bank Of Canada raised their price target on Pembina Pipeline from $64.00 to $68.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Pembina Pipeline in a research note on Tuesday, May 26th. JPMorgan Chase & Co. raised their price target on Pembina Pipeline from $55.00 to $60.00 and gave the stock a “neutral” rating in a research note on Thursday, March 19th. TD Securities upgraded Pembina Pipeline from a “hold” rating to a “buy” rating in a research note on Tuesday, May 26th. Finally, Wall Street Zen upgraded Pembina Pipeline from a “sell” rating to a “hold” rating in a research note on Sunday, May 10th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Pembina Pipeline presently has a consensus rating of “Moderate Buy” and an average target price of $62.67.

Pembina Pipeline Trading Up 2.6%

Shares of PBA stock opened at $48.82 on Wednesday. The business’s 50 day moving average is $45.64 and its two-hundred day moving average is $42.30. Pembina Pipeline Corp. has a twelve month low of $35.45 and a twelve month high of $50.10. The company has a market capitalization of $28.38 billion, a P/E ratio of 25.43 and a beta of 0.57. The company has a current ratio of 0.83, a quick ratio of 0.68 and a debt-to-equity ratio of 0.84.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last announced its earnings results on Thursday, May 7th. The pipeline company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.07. Pembina Pipeline had a return on equity of 11.47% and a net margin of 22.22%.The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same period last year, the business posted $0.80 EPS. The company’s revenue was down 7.7% on a year-over-year basis. Equities analysts forecast that Pembina Pipeline Corp. will post 2.28 EPS for the current year.

Pembina Pipeline Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a $0.735 dividend. This is an increase from Pembina Pipeline’s previous quarterly dividend of $0.71. The ex-dividend date is Monday, June 15th. This represents a $2.94 annualized dividend and a dividend yield of 6.0%. Pembina Pipeline’s dividend payout ratio (DPR) is 108.33%.

Pembina Pipeline Profile

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.