Pembina Pipeline Corp (PBA) Holdings Increased by Commonwealth Bank of Australia
Commonwealth Bank of Australia grew its holdings in shares of Pembina Pipeline Corp (NYSE:PBA) (TSE:PPL) by 25.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,014 shares of the pipeline company’s stock after buying an additional 5,744 shares during the period. Commonwealth Bank of Australia’s holdings in Pembina Pipeline were worth $826,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also made changes to their positions in PBA. Deutsche Bank AG lifted its holdings in Pembina Pipeline by 149.2% during the 3rd quarter. Deutsche Bank AG now owns 11,846,235 shares of the pipeline company’s stock worth $402,650,000 after buying an additional 7,093,412 shares during the last quarter. Pictet Asset Management Ltd. purchased a new stake in shares of Pembina Pipeline in the 3rd quarter valued at about $65,866,000. JPMorgan Chase & Co. lifted its holdings in shares of Pembina Pipeline by 297.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 700,309 shares of the pipeline company’s stock valued at $23,805,000 after purchasing an additional 524,204 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Pembina Pipeline by 11.7% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,754,940 shares of the pipeline company’s stock valued at $141,033,000 after purchasing an additional 496,842 shares during the last quarter. Finally, PCJ Investment Counsel Ltd. purchased a new stake in shares of Pembina Pipeline in the 4th quarter valued at about $14,288,000. 51.92% of the stock is owned by institutional investors.
Several analysts have recently weighed in on PBA shares. AltaCorp Capital reissued an “outperform” rating on shares of Pembina Pipeline in a report on Wednesday, February 13th. Scotiabank reissued a “buy” rating on shares of Pembina Pipeline in a report on Tuesday, February 5th. Zacks Investment Research downgraded Pembina Pipeline from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Finally, Macquarie reissued a “buy” rating on shares of Pembina Pipeline in a report on Tuesday, February 5th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $40.00.
Pembina Pipeline (NYSE:PBA) (TSE:PPL) last posted its earnings results on Thursday, February 21st. The pipeline company reported $0.66 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.18. Pembina Pipeline had a return on equity of 10.86% and a net margin of 16.90%. The business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.93 billion. During the same period in the previous year, the business earned $0.83 EPS. The business’s quarterly revenue was up .6% on a year-over-year basis. On average, equities research analysts expect that Pembina Pipeline Corp will post 2.01 EPS for the current year.
The company also recently announced a monthly dividend, which will be paid on Monday, April 15th. Stockholders of record on Monday, March 25th will be issued a $0.1429 dividend. This represents a $1.71 annualized dividend and a dividend yield of 4.63%. The ex-dividend date is Friday, March 22nd. Pembina Pipeline’s payout ratio is currently 98.31%.
About Pembina Pipeline
Pembina Pipeline Corporation provides transportation and midstream services for the energy industry in North America. It operates through three divisions: Pipelines, Facilities, and Marketing & New Ventures. The company operates approximately 10,000 kilometers of pipeline network that transports hydrocarbon liquids and extends across Alberta and parts of British Columbia, Saskatchewan, and North Dakota; and owns and operates the Nipisi and Mitsue pipelines, which provide transportation for producers operating in the Pelican Lake and Peace River heavy oil regions of Alberta; transports synthetic crude oil for the Syncrude project and the Horizon project to delivery points near Edmonton, Alberta; and operates Cheecham Lateral, which transports synthetic crude to oil sands producers operating southeast of Fort McMurray, Alberta.
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