CIBC World Markets Inc. Has $216.81 Million Holdings in Pembina Pipeline Corp. (PBA)
CIBC World Markets Inc. raised its position in shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 2.9% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,546,034 shares of the pipeline company’s stock after acquiring an additional 186,547 shares during the period. Pembina Pipeline Corp. makes up about 0.9% of CIBC World Markets Inc.’s investment portfolio, making the stock its 23rd largest position. CIBC World Markets Inc. owned 1.62% of Pembina Pipeline Corp. worth $216,805,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of PBA. Janney Montgomery Scott LLC increased its position in Pembina Pipeline Corp. by 1.7% during the first quarter. Janney Montgomery Scott LLC now owns 7,578 shares of the pipeline company’s stock valued at $240,000 after acquiring an additional 128 shares during the last quarter. First Trust Advisors LP increased its position in Pembina Pipeline Corp. by 28.4% during the first quarter. First Trust Advisors LP now owns 9,675 shares of the pipeline company’s stock valued at $307,000 after acquiring an additional 2,138 shares during the last quarter. Capital Fund Management S.A. bought a new position in Pembina Pipeline Corp. during the first quarter valued at $419,000. Bank of New York Mellon Corp increased its position in Pembina Pipeline Corp. by 5.5% during the first quarter. Bank of New York Mellon Corp now owns 488,857 shares of the pipeline company’s stock valued at $15,501,000 after acquiring an additional 25,699 shares during the last quarter. Finally, UBS Asset Management Americas Inc. increased its position in Pembina Pipeline Corp. by 9.8% during the first quarter. UBS Asset Management Americas Inc. now owns 1,007,947 shares of the pipeline company’s stock valued at $31,849,000 after acquiring an additional 90,316 shares during the last quarter. Institutional investors and hedge funds own 49.96% of the company’s stock.
Pembina Pipeline Corp. (PBA) traded up 0.58% on Thursday, hitting $33.13. 50,492 shares of the stock were exchanged. The stock’s 50 day moving average price is $32.87 and its 200 day moving average price is $32.52. Pembina Pipeline Corp. has a 52-week low of $27.44 and a 52-week high of $34.97. The firm has a market cap of $13.35 billion, a PE ratio of 32.83 and a beta of 0.72.
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. The business had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.36 billion. Pembina Pipeline Corp. had a net margin of 12.12% and a return on equity of 8.60%. The business’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same period last year, the company earned $0.25 earnings per share. Equities research analysts forecast that Pembina Pipeline Corp. will post $1.40 earnings per share for the current year.
The firm also recently declared a sep 17 dividend, which will be paid on Sunday, October 15th. Investors of record on Monday, September 25th will be issued a $0.17 dividend. Pembina Pipeline Corp.’s dividend payout ratio (DPR) is 168.04%.
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A number of research firms have weighed in on PBA. Zacks Investment Research upgraded shares of Pembina Pipeline Corp. from a “hold” rating to a “buy” rating and set a $39.00 price objective on the stock in a research report on Friday, July 21st. BidaskClub upgraded shares of Pembina Pipeline Corp. from a “hold” rating to a “buy” rating in a research report on Tuesday, July 25th. Finally, AltaCorp Capital upgraded shares of Pembina Pipeline Corp. from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, July 19th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $43.00.
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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