Harvest Portfolios Group Inc. Has $10.78 Million Stake in Pembina Pipeline Co. (NYSE:PBA)

Harvest Portfolios Group Inc. raised its position in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 1.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 261,407 shares of the pipeline company’s stock after purchasing an additional 2,630 shares during the quarter. Harvest Portfolios Group Inc.’s holdings in Pembina Pipeline were worth $10,776,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in PBA. Godsey & Gibb Inc. acquired a new position in Pembina Pipeline in the third quarter valued at $25,000. Blue Trust Inc. lifted its stake in shares of Pembina Pipeline by 223.8% in the 3rd quarter. Blue Trust Inc. now owns 735 shares of the pipeline company’s stock valued at $30,000 after purchasing an additional 508 shares during the period. CENTRAL TRUST Co boosted its position in shares of Pembina Pipeline by 65.0% during the 3rd quarter. CENTRAL TRUST Co now owns 825 shares of the pipeline company’s stock valued at $34,000 after purchasing an additional 325 shares in the last quarter. Beacon Capital Management LLC acquired a new stake in Pembina Pipeline during the first quarter worth approximately $37,000. Finally, EverSource Wealth Advisors LLC increased its holdings in Pembina Pipeline by 30.2% in the second quarter. EverSource Wealth Advisors LLC now owns 1,668 shares of the pipeline company’s stock worth $65,000 after purchasing an additional 387 shares in the last quarter. 55.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Raymond James began coverage on shares of Pembina Pipeline in a report on Friday, October 11th. They issued an “outperform” rating for the company. UBS Group began coverage on shares of Pembina Pipeline in a research report on Wednesday, September 11th. They issued a “neutral” rating on the stock. Finally, Citigroup boosted their price objective on Pembina Pipeline from $53.00 to $56.00 and gave the stock a “neutral” rating in a report on Wednesday, August 28th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $56.50.

Pembina Pipeline Stock Performance

NYSE PBA opened at $42.41 on Wednesday. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.68 and a quick ratio of 0.55. The firm has a market cap of $24.62 billion, a price-to-earnings ratio of 17.60 and a beta of 1.25. Pembina Pipeline Co. has a 1 year low of $31.51 and a 1 year high of $43.44. The company has a fifty day moving average price of $41.58 and a 200-day moving average price of $38.78.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last posted its quarterly earnings data on Thursday, August 8th. The pipeline company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.54 by $0.21. The business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.44 billion. Pembina Pipeline had a return on equity of 13.68% and a net margin of 23.50%. Pembina Pipeline’s revenue for the quarter was up 30.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.45 earnings per share. As a group, equities research analysts predict that Pembina Pipeline Co. will post 2.38 EPS for the current fiscal year.

Pembina Pipeline Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be paid a $0.69 dividend. This is a boost from Pembina Pipeline’s previous quarterly dividend of $0.50. This represents a $2.76 dividend on an annualized basis and a yield of 6.51%. Pembina Pipeline’s payout ratio is currently 85.00%.

Pembina Pipeline Profile

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.