Westerkirk Capital Inc. Invests $1.12 Million in Pembina Pipeline Corp. $PBA

Westerkirk Capital Inc. acquired a new stake in shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 29,800 shares of the pipeline company’s stock, valued at approximately $1,118,000.

Several other large investors also recently bought and sold shares of the business. Mediolanum International Funds Ltd lifted its stake in Pembina Pipeline by 2.0% during the 2nd quarter. Mediolanum International Funds Ltd now owns 14,760 shares of the pipeline company’s stock valued at $551,000 after acquiring an additional 293 shares during the period. MAI Capital Management grew its stake in shares of Pembina Pipeline by 2.9% in the second quarter. MAI Capital Management now owns 10,664 shares of the pipeline company’s stock worth $400,000 after acquiring an additional 302 shares during the period. Farther Finance Advisors LLC raised its holdings in shares of Pembina Pipeline by 8.9% during the second quarter. Farther Finance Advisors LLC now owns 3,774 shares of the pipeline company’s stock valued at $142,000 after purchasing an additional 307 shares during the last quarter. Midwest Professional Planners LTD. lifted its position in Pembina Pipeline by 1.9% during the second quarter. Midwest Professional Planners LTD. now owns 16,890 shares of the pipeline company’s stock valued at $634,000 after purchasing an additional 312 shares during the period. Finally, M&T Bank Corp grew its position in Pembina Pipeline by 0.3% in the 2nd quarter. M&T Bank Corp now owns 110,885 shares of the pipeline company’s stock worth $4,159,000 after purchasing an additional 351 shares during the period. 55.37% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PBA has been the topic of several research analyst reports. BMO Capital Markets reissued an “outperform” rating on shares of Pembina Pipeline in a report on Monday, August 11th. Wells Fargo & Company cut Pembina Pipeline from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Pembina Pipeline in a research report on Monday. Wall Street Zen cut shares of Pembina Pipeline from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Finally, Raymond James Financial reissued an “outperform” rating on shares of Pembina Pipeline in a report on Monday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Pembina Pipeline currently has a consensus rating of “Moderate Buy”.

Pembina Pipeline Stock Down 1.2%

NYSE PBA opened at $38.50 on Wednesday. Pembina Pipeline Corp. has a 52 week low of $34.13 and a 52 week high of $42.40. The company has a quick ratio of 0.62, a current ratio of 0.77 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $22.37 billion, a P/E ratio of 18.07 and a beta of 0.63. The stock’s 50-day moving average price is $38.72 and its 200-day moving average price is $37.93.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last announced its quarterly earnings data on Thursday, November 6th. The pipeline company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.14). The company had revenue of $911.47 million for the quarter, compared to the consensus estimate of $1.42 billion. Pembina Pipeline had a net margin of 23.24% and a return on equity of 12.27%. The company’s revenue was down 2.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.60 earnings per share. On average, equities research analysts predict that Pembina Pipeline Corp. will post 2.15 earnings per share for the current year.

Pembina Pipeline Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be paid a dividend of $0.71 per share. The ex-dividend date is Monday, December 15th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 7.4%. Pembina Pipeline’s payout ratio is 101.00%.

About Pembina Pipeline

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.