The Manufacturers Life Insurance Company Takes $285.74 Million Position in Pembina Pipeline Corp. $PBA

The Manufacturers Life Insurance Company acquired a new position in shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 6,187,904 shares of the pipeline company’s stock, valued at approximately $285,738,000. The Manufacturers Life Insurance Company owned 1.06% of Pembina Pipeline at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Western Wealth Management LLC purchased a new stake in Pembina Pipeline in the first quarter valued at approximately $25,000. Tobam purchased a new position in Pembina Pipeline during the fourth quarter worth approximately $28,000. Dunhill Financial LLC acquired a new position in shares of Pembina Pipeline in the 2nd quarter valued at $31,000. N.E.W. Advisory Services LLC acquired a new position in shares of Pembina Pipeline in the 2nd quarter valued at $31,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of Pembina Pipeline in the 3rd quarter valued at $31,000. 55.37% of the stock is owned by institutional investors and hedge funds.

Pembina Pipeline Price Performance

PBA opened at $48.71 on Tuesday. Pembina Pipeline Corp. has a 52-week low of $36.20 and a 52-week high of $51.58. The company has a 50 day moving average of $48.45 and a two-hundred day moving average of $46.45. The company has a market cap of $28.33 billion, a P/E ratio of 23.88 and a beta of 0.57. The company has a quick ratio of 0.50, a current ratio of 0.62 and a debt-to-equity ratio of 0.78.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last posted its earnings results on Thursday, July 30th. The pipeline company reported $0.48 earnings per share 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 for the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the previous year, the firm posted $0.65 EPS. The business’s revenue was up 20.1% compared to the same quarter last year. On average, analysts expect that Pembina Pipeline Corp. will post 2.23 earnings per share for the current year.

Pembina Pipeline Announces Dividend

The business also recently disclosed 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. This represents a $2.94 dividend on an annualized basis and a dividend yield of 6.0%. The ex-dividend date is Tuesday, September 15th. Pembina Pipeline’s payout ratio is currently 102.45%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PBA. TD Securities restated a “buy” rating on shares of Pembina Pipeline in a report on Thursday, July 16th. Wall Street Zen upgraded Pembina Pipeline from a “sell” rating to a “hold” rating in a report on Saturday, July 25th. Barclays reissued an “overweight” rating on shares of Pembina Pipeline in a research report on Thursday, May 21st. Scotiabank lowered Pembina Pipeline from a “sector outperform” rating to a “sector perform” rating in a research note on Monday, July 20th. Finally, Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Pembina Pipeline in a report on Friday, July 3rd. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $64.00.

Pembina Pipeline Company 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.