Renaissance Technologies LLC Grows Stake in Pembina Pipeline Corp. $PBA

Renaissance Technologies LLC raised its position in shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 1,517.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 445,764 shares of the pipeline company’s stock after purchasing an additional 418,200 shares during the quarter. Renaissance Technologies LLC owned 0.08% of Pembina Pipeline worth $19,952,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cardinal Capital Management Inc. boosted its stake in shares of Pembina Pipeline by 10.0% in the 4th quarter. Cardinal Capital Management Inc. now owns 3,274,336 shares of the pipeline company’s stock valued at $124,621,000 after purchasing an additional 298,412 shares during the last quarter. TD Waterhouse Canada Inc. grew its position in shares of Pembina Pipeline by 2.5% during the 4th quarter. TD Waterhouse Canada Inc. now owns 1,703,413 shares of the pipeline company’s stock worth $64,798,000 after buying an additional 40,944 shares during the period. Vanguard Group Inc. increased its stake in Pembina Pipeline by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 27,233,442 shares of the pipeline company’s stock valued at $1,037,512,000 after purchasing an additional 541,615 shares in the last quarter. K.J. Harrison & Partners Inc raised its stake in Pembina Pipeline by 27.3% during the 4th quarter. K.J. Harrison & Partners Inc now owns 207,560 shares of the pipeline company’s stock worth $7,919,000 after buying an additional 44,500 shares during the period. Finally, Nicola Wealth Management LTD. grew its position in shares of Pembina Pipeline by 28.0% in the 4th quarter. Nicola Wealth Management LTD. now owns 987,800 shares of the pipeline company’s stock valued at $37,638,000 after purchasing an additional 216,300 shares during the period. 55.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. TD Securities reiterated a “buy” rating on shares of Pembina Pipeline in a report on Thursday, July 16th. BMO Capital Markets restated a “market perform” rating and issued a $68.00 target price on shares of Pembina Pipeline in a research note on Friday, July 3rd. Wall Street Zen upgraded shares of Pembina Pipeline from a “sell” rating to a “hold” rating in a report on Saturday, July 25th. Scotiabank cut shares of Pembina Pipeline from a “sector outperform” rating to a “sector perform” rating in a research report on Monday, July 20th. Finally, Weiss Ratings raised Pembina Pipeline from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday. Six research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Pembina Pipeline has an average rating of “Hold” and a consensus price target of $64.00.

Pembina Pipeline Trading Down 0.1%

PBA stock opened at $50.37 on Friday. Pembina Pipeline Corp. has a 52 week low of $35.45 and a 52 week high of $51.58. The company’s 50-day simple moving average is $48.39 and its 200 day simple moving average is $45.41. The company has a market capitalization of $29.29 billion, a PE ratio of 26.24 and a beta of 0.57. 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 released its quarterly earnings results on Thursday, July 30th. The pipeline company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.37 billion. Pembina Pipeline had a net margin of 22.22% and a return on equity of 11.47%. As a group, sell-side analysts anticipate that Pembina Pipeline Corp. will post 2.2 earnings per share for the current 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 issued a $0.735 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $2.94 dividend on an annualized basis and a dividend yield of 5.8%. This is a boost from Pembina Pipeline’s previous quarterly dividend of $0.71. Pembina Pipeline’s dividend payout ratio (DPR) is 110.94%.

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.