UniSuper Management Pty Ltd Boosts Stake in Pembina Pipeline Corp. $PBA

UniSuper Management Pty Ltd raised its position in Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 71.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,500,100 shares of the pipeline company’s stock after buying an additional 623,758 shares during the period. UniSuper Management Pty Ltd’s holdings in Pembina Pipeline were worth $57,094,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AQR Capital Management LLC acquired a new position in Pembina Pipeline in the first quarter worth about $374,000. Focus Partners Wealth acquired a new position in Pembina Pipeline in the first quarter worth about $312,000. Marshall Wace LLP acquired a new position in Pembina Pipeline in the second quarter worth about $253,000. Cresset Asset Management LLC grew its stake in Pembina Pipeline by 4.1% in the second quarter. Cresset Asset Management LLC now owns 13,684 shares of the pipeline company’s stock worth $513,000 after purchasing an additional 534 shares in the last quarter. Finally, AXA S.A. grew its stake in Pembina Pipeline by 17.5% in the second quarter. AXA S.A. now owns 23,418 shares of the pipeline company’s stock worth $878,000 after purchasing an additional 3,488 shares in the last quarter. 55.37% of the stock is owned by hedge funds and other institutional investors.

Pembina Pipeline Stock Performance

PBA opened at $48.63 on Friday. The business’s 50 day moving average is $46.18 and its 200-day moving average is $42.88. The stock has a market cap of $28.28 billion, a PE ratio of 25.33 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 Corp. has a twelve month low of $35.45 and a twelve month high of $50.10.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last released its quarterly earnings results on Thursday, May 7th. The pipeline company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates 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 return on equity of 11.47% and a net margin of 22.22%.The business’s revenue for the quarter was down 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.80 earnings per share. On average, analysts predict that Pembina Pipeline Corp. will post 2.28 earnings per share for the current year.

Pembina Pipeline Increases Dividend

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

Analyst Upgrades and Downgrades

PBA has been the subject of a number of research reports. Barclays reiterated an “overweight” rating on shares of Pembina Pipeline in a research note on Thursday, May 21st. Royal Bank Of Canada lifted 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. Weiss Ratings upgraded Pembina Pipeline from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 2nd. 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 reiterated a “market perform” rating on shares of Pembina Pipeline in a research note on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.