CIBC Asset Management Inc Has $329.25 Million Stock Position in Pembina Pipeline Corp. $PBA

CIBC Asset Management Inc increased its holdings in shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 17.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 8,620,307 shares of the pipeline company’s stock after purchasing an additional 1,304,227 shares during the period. CIBC Asset Management Inc’s holdings in Pembina Pipeline were worth $329,245,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of PBA. Caitong International Asset Management Co. Ltd bought a new position in Pembina Pipeline in the third quarter valued at about $31,000. Westside Investment Management Inc. lifted its holdings in shares of Pembina Pipeline by 100.0% in the third quarter. Westside Investment Management Inc. now owns 808 shares of the pipeline company’s stock worth $32,000 after acquiring an additional 404 shares during the last quarter. Physician Wealth Advisors Inc. boosted its stake in shares of Pembina Pipeline by 441.2% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 920 shares of the pipeline company’s stock valued at $37,000 after purchasing an additional 750 shares in the last quarter. Larson Financial Group LLC boosted its stake in shares of Pembina Pipeline by 32.4% in the 3rd quarter. Larson Financial Group LLC now owns 1,059 shares of the pipeline company’s stock valued at $43,000 after purchasing an additional 259 shares in the last quarter. Finally, IFP Advisors Inc grew 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 purchasing an additional 513 shares during the last quarter. 55.37% of the stock is owned by institutional investors and hedge funds.

Pembina Pipeline Trading Up 2.6%

Shares of NYSE PBA opened at $48.82 on Wednesday. The firm has a 50 day moving average price of $45.64 and a two-hundred day moving average price of $42.30. The stock has a market cap of $28.38 billion, a P/E ratio of 25.43 and a beta of 0.57. Pembina Pipeline Corp. has a 52-week low of $35.45 and a 52-week high of $50.10. 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 (NYSE:PBA) (TSE:PPL) last issued its quarterly earnings data on Thursday, May 7th. The pipeline company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.07. The company had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.06 billion. Pembina Pipeline had a net margin of 22.22% and a return on equity of 11.47%. Pembina Pipeline’s revenue for the quarter was down 7.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.80 earnings per share. As a group, equities analysts forecast that Pembina Pipeline Corp. will post 2.28 EPS for the current year.

Pembina Pipeline Increases Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PBA. Wall Street Zen raised shares of Pembina Pipeline from a “sell” rating to a “hold” rating in a research note on Sunday, May 10th. JPMorgan Chase & Co. boosted their target price on shares of 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 shares of Pembina Pipeline from a “hold” rating to a “buy” rating in a report on Tuesday, May 26th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Pembina Pipeline in a research note on Tuesday, May 26th. Finally, BMO Capital Markets restated a “market perform” rating on shares of Pembina Pipeline in a research report on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $62.67.

Pembina Pipeline Company 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.