Royal Bank of Canada Has $918.32 Million Holdings in Pembina Pipeline Corp. (PBA)
Royal Bank of Canada trimmed its holdings in Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 0.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,726,939 shares of the pipeline company’s stock after selling 138,147 shares during the period. Royal Bank of Canada owned about 6.88% of Pembina Pipeline Corp. worth $918,317,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in PBA. Goldman Sachs Group Inc. increased its holdings in shares of Pembina Pipeline Corp. by 43.6% during the 2nd quarter. Goldman Sachs Group Inc. now owns 2,901,307 shares of the pipeline company’s stock valued at $96,091,000 after acquiring an additional 880,831 shares during the last quarter. Bank of Nova Scotia Trust Co. raised its stake in shares of Pembina Pipeline Corp. by 6.9% in the 2nd quarter. Bank of Nova Scotia Trust Co. now owns 401,619 shares of the pipeline company’s stock valued at $13,301,000 after acquiring an additional 26,091 shares in the last quarter. HighTower Advisors LLC raised its stake in shares of Pembina Pipeline Corp. by 7.5% in the 2nd quarter. HighTower Advisors LLC now owns 8,313 shares of the pipeline company’s stock valued at $276,000 after acquiring an additional 583 shares in the last quarter. QS Investors LLC raised its stake in shares of Pembina Pipeline Corp. by 158.2% in the 2nd quarter. QS Investors LLC now owns 34,598 shares of the pipeline company’s stock valued at $1,146,000 after acquiring an additional 21,200 shares in the last quarter. Finally, Stifel Financial Corp raised its stake in shares of Pembina Pipeline Corp. by 5.4% in the 2nd quarter. Stifel Financial Corp now owns 17,661 shares of the pipeline company’s stock valued at $584,000 after acquiring an additional 909 shares in the last quarter. 49.86% of the stock is currently owned by institutional investors.
A number of brokerages have issued reports on PBA. BidaskClub raised Pembina Pipeline Corp. from a “hold” rating to a “buy” rating in a research report on Tuesday, July 25th. Zacks Investment Research upgraded Pembina Pipeline Corp. from a “hold” rating to a “buy” rating and set a $39.00 price target on the stock in a report on Friday, July 21st. Finally, AltaCorp Capital raised shares of Pembina Pipeline Corp. from a “sector perform” rating to an “outperform” rating in a research report 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 stock. The company presently has an average rating of “Buy” and an average price target of $43.00.
Pembina Pipeline Corp. (NYSE:PBA) traded down 0.242% during trading on Monday, hitting $35.015. The stock had a trading volume of 158,466 shares. The company has a market capitalization of $14.11 billion, a price-to-earnings ratio of 33.253 and a beta of 0.73. Pembina Pipeline Corp. has a 12-month low of $27.44 and a 12-month high of $35.59. The stock has a 50 day moving average price of $32.71 and a 200 day moving average price of $32.62.
Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) last announced its quarterly earnings results on Tuesday, August 1st. The pipeline company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.08). The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.36 billion. Pembina Pipeline Corp. had a return on equity of 8.60% and a net margin of 12.12%. Pembina Pipeline Corp.’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same period last year, the firm earned $0.25 EPS. Equities research analysts forecast that Pembina Pipeline Corp. will post $1.38 earnings per share for the current 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 paid a dividend of $0.139 per share. This is an increase from Pembina Pipeline Corp.’s previous monthly dividend of $0.13. This represents a $1.67 annualized dividend and a dividend yield of 4.75%. The ex-dividend date is Friday, September 22nd. Pembina Pipeline Corp.’s payout ratio is currently 168.04%.
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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.
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