Comerica Bank acquired a new position in Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 45,043 shares of the pipeline company’s stock, valued at approximately $1,555,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PBA. Bank of Montreal Can boosted its stake in shares of Pembina Pipeline Corp. by 13.9% in the second quarter. Bank of Montreal Can now owns 12,169,430 shares of the pipeline company’s stock worth $403,051,000 after acquiring an additional 1,488,648 shares during the period. Jarislowsky Fraser Ltd boosted its stake in shares of Pembina Pipeline Corp. by 10.0% in the second quarter. Jarislowsky Fraser Ltd now owns 12,281,783 shares of the pipeline company’s stock worth $406,177,000 after acquiring an additional 1,118,498 shares during the period. Vanguard Group Inc. boosted its stake in shares of Pembina Pipeline Corp. by 5.3% in the first quarter. Vanguard Group Inc. now owns 9,479,317 shares of the pipeline company’s stock worth $300,589,000 after acquiring an additional 474,863 shares during the period. CIBC Asset Management Inc boosted its stake in shares of Pembina Pipeline Corp. by 11.9% in the second quarter. CIBC Asset Management Inc now owns 4,313,743 shares of the pipeline company’s stock worth $142,706,000 after acquiring an additional 459,634 shares during the period. Finally, Forsta AP Fonden boosted its stake in shares of Pembina Pipeline Corp. by 237.5% in the second quarter. Forsta AP Fonden now owns 453,295 shares of the pipeline company’s stock worth $14,991,000 after acquiring an additional 319,000 shares during the period. 49.96% of the stock is owned by hedge funds and other institutional investors.

A number of research firms have recently weighed in on PBA. BidaskClub lowered Pembina Pipeline Corp. from a “sell” rating to a “strong sell” rating in a research note on Monday, August 14th. Zacks Investment Research lowered Pembina Pipeline Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. Finally, AltaCorp Capital raised Pembina Pipeline Corp. from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, July 19th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company. Pembina Pipeline Corp. presently has an average rating of “Buy” and a consensus target price of $43.00.

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Shares of Pembina Pipeline Corp. (NYSE:PBA) opened at 33.99 on Thursday. The stock has a market capitalization of $13.70 billion, a P/E ratio of 33.23 and a beta of 0.72. The company has a 50 day moving average price of $32.74 and a 200-day moving average price of $32.56. Pembina Pipeline Corp. has a 52-week low of $27.44 and a 52-week high of $34.97.

Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) last posted its earnings results on Tuesday, August 1st. The pipeline company reported $0.19 EPS for the quarter, missing the Zacks’ consensus estimate of $0.27 by ($0.08). Pembina Pipeline Corp. had a net margin of 12.12% and a return on equity of 8.60%. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same quarter last year, the business earned $0.25 earnings per share. Pembina Pipeline Corp.’s revenue was up 13.5% on a year-over-year basis. On average, analysts predict that Pembina Pipeline Corp. will post $1.44 earnings per share for the current fiscal year.

The firm also recently announced a monthly dividend, which will be paid on Friday, October 13th. Stockholders of record on Monday, September 25th will be given a dividend of $0.139 per share. The ex-dividend date of this dividend is Friday, September 22nd. This is a boost from Pembina Pipeline Corp.’s previous monthly dividend of $0.13. This represents a $1.67 dividend on an annualized basis and a dividend yield of 4.91%. Pembina Pipeline Corp.’s dividend payout ratio (DPR) is 168.04%.

Pembina Pipeline Corp. Company Profile

Pembina Pipeline Corporation is an energy transportation and service provider. The Company operates through four segments. The Conventional Pipelines segment consists of the tariff-based operations of pipelines and related facilities to deliver crude oil, condensate and natural gas liquids (NGL) in Alberta, British Columbia, Saskatchewan, and North Dakota, United States.

Institutional Ownership by Quarter for Pembina Pipeline Corp. (NYSE:PBA)

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