Summerhill Capital Management lnc. Makes New Investment in Pembina Pipeline Corp. $PBA

Summerhill Capital Management lnc. bought a new position in Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) in the 1st quarter, according to its most recent disclosure with the SEC. The firm bought 13,662 shares of the pipeline company’s stock, valued at approximately $610,000. Pembina Pipeline accounts for approximately 0.5% of Summerhill Capital Management lnc.’s investment portfolio, making the stock its 26th largest holding.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Empowered Funds LLC boosted its stake in shares of Pembina Pipeline by 1.0% during the 4th quarter. Empowered Funds LLC now owns 24,449 shares of the pipeline company’s stock valued at $931,000 after purchasing an additional 248 shares in the last quarter. Larson Financial Group LLC raised its stake in Pembina Pipeline by 32.4% in the third quarter. Larson Financial Group LLC now owns 1,059 shares of the pipeline company’s stock worth $43,000 after buying an additional 259 shares in the last quarter. Ethic Inc. raised its stake in Pembina Pipeline by 2.0% in the fourth quarter. Ethic Inc. now owns 14,150 shares of the pipeline company’s stock worth $539,000 after buying an additional 278 shares in the last quarter. Brown Brothers Harriman & Co. lifted its holdings in 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 buying an additional 341 shares during the period. Finally, Oppenheimer Asset Management Inc. lifted its holdings in Pembina Pipeline by 1.9% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 21,014 shares of the pipeline company’s stock worth $800,000 after buying an additional 386 shares during the period. 55.37% of the stock is owned by hedge funds and other institutional investors.

Pembina Pipeline Price Performance

Shares of NYSE PBA opened at $47.18 on Friday. The company has a 50 day simple moving average of $46.78 and a two-hundred day simple moving average of $43.49. Pembina Pipeline Corp. has a fifty-two week low of $35.45 and a fifty-two week high of $50.10. The company has a market capitalization of $27.43 billion, a price-to-earnings ratio of 24.57 and a beta of 0.57. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.68 and a current ratio of 0.83.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last issued its quarterly earnings results on Thursday, May 7th. The pipeline company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.07. The firm had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.06 billion. Pembina Pipeline had a return on equity of 11.47% and a net margin of 22.22%.The business’s revenue for the quarter was down 7.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.80 EPS. Analysts expect that Pembina Pipeline Corp. will post 2.28 EPS for the current fiscal year.

Pembina Pipeline Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a dividend of $0.735 per share. The ex-dividend date is Monday, June 15th. This is a positive change from Pembina Pipeline’s previous quarterly dividend of $0.71. This represents a $2.94 dividend on an annualized basis and a yield of 6.2%. Pembina Pipeline’s dividend payout ratio (DPR) is presently 110.94%.

Analysts Set New Price Targets

PBA has been the topic of a number of research analyst reports. Royal Bank Of Canada upped their target price on Pembina Pipeline from $64.00 to $68.00 and gave the stock an “outperform” rating in a report on Monday, May 11th. Barclays restated an “overweight” rating on shares of Pembina Pipeline in a research note on Thursday, May 21st. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Pembina Pipeline in a research report on Tuesday, May 26th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Pembina Pipeline in a research note on Tuesday, May 26th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Pembina Pipeline in a report on Tuesday, June 16th. Six research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Pembina Pipeline currently has a consensus rating of “Hold” and an average target price of $62.67.

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.