Connor Clark & Lunn Investment Management Ltd. Makes New $7.85 Million Investment in Pembina Pipeline Corp. $PBA

Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) in the 2nd quarter, HoldingsChannel.com reports. The firm purchased 169,756 shares of the pipeline company’s stock, valued at approximately $7,847,000.

A number of other institutional investors have also modified their holdings of the company. Deutsche Bank AG purchased a new stake in shares of Pembina Pipeline in the 2nd quarter valued at $262,233,000. Norges Bank purchased a new position in Pembina Pipeline during the 4th quarter valued at about $213,701,000. Bank of Nova Scotia purchased a new position in Pembina Pipeline during the 2nd quarter valued at about $174,133,000. Ontario Teachers Pension Plan Board acquired a new position in Pembina Pipeline in the 2nd quarter valued at about $105,984,000. Finally, Kayne Anderson Capital Advisors LP acquired a new position in Pembina Pipeline in the 2nd quarter valued at about $97,704,000. 55.37% of the stock is owned by institutional investors and hedge funds.

Pembina Pipeline Stock Performance

Shares of Pembina Pipeline stock opened at $48.61 on Thursday. Pembina Pipeline Corp. has a one year low of $36.20 and a one year high of $51.58. The company has a market cap of $28.27 billion, a PE ratio of 23.83 and a beta of 0.57. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.50 and a current ratio of 0.62. The business has a 50-day simple moving average of $48.51 and a 200-day simple moving average of $46.54.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last posted its earnings results on Thursday, July 30th. The pipeline company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.01). Pembina Pipeline had a net margin of 22.41% and a return on equity of 11.41%. The business had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same period last year, the company earned $0.65 EPS. The business’s quarterly revenue was up 20.1% compared to the same quarter last year. On average, equities research analysts forecast that Pembina Pipeline Corp. will post 2.23 EPS for the current fiscal year.

Pembina Pipeline Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be given a dividend of $0.735 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $2.94 annualized dividend and a yield of 6.0%. Pembina Pipeline’s payout ratio is 104.41%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on PBA shares. Wall Street Zen raised shares of Pembina Pipeline from a “sell” rating to a “hold” rating in a research report on Saturday, July 25th. Weiss Ratings cut shares of Pembina Pipeline from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, August 18th. TD Securities reiterated a “buy” rating on shares of Pembina Pipeline in a report on Thursday, July 16th. BMO Capital Markets reissued a “market perform” rating on shares of Pembina Pipeline in a research report on Friday, July 31st. Finally, Barclays restated an “overweight” rating on shares of Pembina Pipeline in a research note on Thursday, May 21st. Five analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $64.00.

About Pembina Pipeline

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.