CIBC Asset Management Inc Raises Position in Pembina Pipeline Corp. $PBA

CIBC Asset Management Inc increased its stake in Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 47.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,547,536 shares of the pipeline company’s stock after buying an additional 2,427,939 shares during the quarter. Pembina Pipeline comprises 0.9% of CIBC Asset Management Inc’s portfolio, making the stock its 28th largest position. CIBC Asset Management Inc owned about 1.30% of Pembina Pipeline worth $283,823,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ameritas Advisory Services LLC acquired a new stake in Pembina Pipeline in the second quarter valued at approximately $66,000. First Horizon Advisors Inc. boosted its stake in shares of Pembina Pipeline by 172.2% in the second quarter. First Horizon Advisors Inc. now owns 1,832 shares of the pipeline company’s stock valued at $69,000 after purchasing an additional 1,159 shares during the period. MassMutual Private Wealth & Trust FSB grew its holdings in Pembina Pipeline by 11.4% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 3,436 shares of the pipeline company’s stock valued at $129,000 after purchasing an additional 352 shares in the last quarter. Farther Finance Advisors LLC increased its stake in Pembina Pipeline by 8.9% during the 2nd quarter. Farther Finance Advisors LLC now owns 3,774 shares of the pipeline company’s stock worth $142,000 after buying an additional 307 shares during the period. Finally, Ewing Morris & Co. Investment Partners Ltd. acquired a new position in Pembina Pipeline in the 1st quarter worth $160,000. 55.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Pembina Pipeline in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy”.

Pembina Pipeline Trading Down 0.5%

NYSE PBA opened at $39.12 on Thursday. The company has a market capitalization of $22.73 billion, a price-to-earnings ratio of 19.56 and a beta of 0.63. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.53 and a quick ratio of 0.41. Pembina Pipeline Corp. has a 12 month low of $34.13 and a 12 month high of $42.40. The company’s fifty day moving average price is $38.60 and its two-hundred day moving average price is $38.01.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last released its earnings results on Thursday, November 6th. The pipeline company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.14). Pembina Pipeline had a return on equity of 11.59% and a net margin of 22.17%.The company had revenue of $911.47 million during the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the previous year, the firm posted $0.60 EPS. Pembina Pipeline’s revenue for the quarter was down 2.9% on a year-over-year basis. As a group, research analysts predict that Pembina Pipeline Corp. will post 2.15 earnings per share for the current fiscal year.

Pembina Pipeline Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be paid a dividend of $0.71 per share. The ex-dividend date is Monday, December 15th. This represents a $2.84 annualized dividend and a yield of 7.3%. Pembina Pipeline’s dividend payout ratio is presently 103.50%.

About Pembina Pipeline

Pembina Pipeline Corporation provides energy transportation and midstream services. It operates through three segments: Pipelines, Facilities, and Marketing & New Ventures. The Pipelines segment operates conventional, oil sands and heavy oil, and transmission assets with a transportation capacity of 2.9 millions of barrels of oil equivalent per day, the ground storage capacity of 10 millions of barrels, and rail terminalling capacity of approximately 105 thousands of barrels of oil equivalent per day serving markets and basins across North America.