Castleton Investment Management LLC Acquires 64,000 Shares of Pembina Pipeline Corp. (PBA)
Castleton Investment Management LLC raised its holdings in shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 142.2% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 109,000 shares of the pipeline company’s stock after purchasing an additional 64,000 shares during the period. Pembina Pipeline Corp. accounts for 1.6% of Castleton Investment Management LLC’s portfolio, making the stock its 15th largest position. Castleton Investment Management LLC’s holdings in Pembina Pipeline Corp. were worth $4,681,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. Girard Partners LTD. lifted its holdings in shares of Pembina Pipeline Corp. by 0.9% during the second quarter. Girard Partners LTD. now owns 11,498 shares of the pipeline company’s stock valued at $381,000 after purchasing an additional 97 shares during the last quarter. Fiera Capital Corp boosted its position in shares of Pembina Pipeline Corp. by 21.4% in the 2nd quarter. Fiera Capital Corp now owns 1,884,414 shares of the pipeline company’s stock worth $62,606,000 after purchasing an additional 332,531 shares in the last quarter. Aviva PLC boosted its position in shares of Pembina Pipeline Corp. by 1.7% in the 2nd quarter. Aviva PLC now owns 248,929 shares of the pipeline company’s stock worth $8,233,000 after purchasing an additional 4,210 shares in the last quarter. Creative Planning boosted its position in shares of Pembina Pipeline Corp. by 5.2% in the 2nd quarter. Creative Planning now owns 50,515 shares of the pipeline company’s stock worth $1,673,000 after purchasing an additional 2,495 shares in the last quarter. Finally, Jennison Associates LLC boosted its position in shares of Pembina Pipeline Corp. by 502.2% in the 2nd quarter. Jennison Associates LLC now owns 1,271,009 shares of the pipeline company’s stock worth $42,096,000 after purchasing an additional 1,059,961 shares in the last quarter. 49.86% of the stock is owned by institutional investors and hedge funds.
Several analysts recently weighed in on PBA shares. BidaskClub downgraded Pembina Pipeline Corp. from a “sell” rating to a “strong sell” rating in a research note on Monday, August 14th. Zacks Investment Research lowered Pembina Pipeline Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. Finally, AltaCorp Capital upgraded Pembina Pipeline Corp. from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, July 19th. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company. Pembina Pipeline Corp. has a consensus rating of “Buy” and an average price target of $43.00.
Pembina Pipeline Corp. (NYSE:PBA) traded down 1.81% during mid-day trading on Wednesday, reaching $34.73. 273,014 shares of the company’s stock were exchanged. The firm has a market capitalization of $14.00 billion, a P/E ratio of 32.98 and a beta of 0.73. The company’s 50-day moving average is $33.24 and its 200 day moving average is $32.83. Pembina Pipeline Corp. has a one year low of $27.44 and a one year high of $35.63.
Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) last announced its quarterly earnings results on Tuesday, August 1st. The pipeline company reported $0.19 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.27 by ($0.08). Pembina Pipeline Corp. had a net margin of 12.12% and a return on equity of 8.60%. The company had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.36 billion. During the same quarter in the prior year, the business posted $0.25 earnings per share. The company’s revenue was up 13.5% compared to the same quarter last year. Equities analysts predict that Pembina Pipeline Corp. will post $1.29 earnings per share for the current fiscal year.
The business also recently disclosed a monthly dividend, which will be paid on Wednesday, November 15th. Investors of record on Wednesday, October 25th will be paid a dividend of $0.144 per share. This is a boost from Pembina Pipeline Corp.’s previous monthly dividend of $0.14. This represents a $1.73 dividend on an annualized basis and a dividend yield of 4.89%. The ex-dividend date of this dividend is Tuesday, October 24th. Pembina Pipeline Corp.’s dividend payout ratio is 168.04%.
Pembina Pipeline Corp. Company Profile
Pembina Pipeline Corporation is an energy transportation and service provider. The Company operates through four segments. The Conventional Pipelines segment consists of the tariff-based operations of pipelines and related facilities to deliver crude oil, condensate and natural gas liquids (NGL) in Alberta, British Columbia, Saskatchewan, and North Dakota, United States.
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