Equitable Holdings Inc. Acquires New Holdings in Pembina Pipeline Corp. $PBA

Equitable Holdings Inc. bought a new position in shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 61,864 shares of the pipeline company’s stock, valued at approximately $2,861,000.

A number of other institutional investors and hedge funds have also modified their holdings of PBA. Empowered Funds LLC grew its stake in Pembina Pipeline by 1.0% in the 4th quarter. Empowered Funds LLC now owns 24,449 shares of the pipeline company’s stock valued at $931,000 after buying an additional 248 shares during the last quarter. Larson Financial Group LLC boosted its holdings in Pembina Pipeline by 32.4% during the third quarter. Larson Financial Group LLC now owns 1,059 shares of the pipeline company’s stock valued at $43,000 after acquiring an additional 259 shares during the period. Ethic Inc. boosted its holdings in Pembina Pipeline by 2.0% during the fourth quarter. Ethic Inc. now owns 14,150 shares of the pipeline company’s stock valued at $539,000 after acquiring an additional 278 shares during the period. Broderick Brian C grew its position in shares of Pembina Pipeline by 0.9% in the first quarter. Broderick Brian C now owns 32,823 shares of the pipeline company’s stock valued at $1,469,000 after purchasing an additional 300 shares during the last quarter. Finally, Brown Brothers Harriman & Co. increased its stake in shares of Pembina Pipeline by 3.6% in the fourth quarter. Brown Brothers Harriman & Co. now owns 9,768 shares of the pipeline company’s stock worth $372,000 after purchasing an additional 341 shares during the period. 55.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Pembina Pipeline in a research note on Friday, July 3rd. Barclays reiterated an “overweight” rating on shares of Pembina Pipeline in a report on Thursday, May 21st. Wall Street Zen raised Pembina Pipeline from a “sell” rating to a “hold” rating in a research report on Saturday, July 25th. TD Securities restated a “buy” rating on shares of Pembina Pipeline in a research note on Thursday, July 16th. Finally, Scotiabank cut shares of Pembina Pipeline from a “sector outperform” rating to a “sector perform” rating in a research note on Monday, July 20th. Five analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $64.00.

Pembina Pipeline Price Performance

Shares of PBA stock opened at $48.41 on Friday. The stock has a 50 day moving average of $48.56 and a two-hundred day moving average of $46.58. The company has a current ratio of 0.62, a quick ratio of 0.50 and a debt-to-equity ratio of 0.78. Pembina Pipeline Corp. has a 12 month low of $36.20 and a 12 month high of $51.58. The company has a market capitalization of $28.15 billion, a P/E ratio of 23.73 and a beta of 0.57.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last released its quarterly earnings data on Thursday, July 30th. The pipeline company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.46 billion. Pembina Pipeline had a net margin of 22.41% and a return on equity of 11.41%. The business’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.65 earnings per share. As a group, equities analysts expect that Pembina Pipeline Corp. will post 2.23 EPS for the current year.

Pembina Pipeline Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be paid a dividend of $0.735 per share. The ex-dividend date is Tuesday, September 15th. This represents a $2.94 dividend on an annualized basis and a yield of 6.1%. Pembina Pipeline’s payout ratio is currently 104.41%.

Pembina Pipeline 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.