Forsta AP Fonden Has $4.86 Million Holdings in Pembina Pipeline Corp (PBA)
Forsta AP Fonden raised its stake in Pembina Pipeline Corp (NYSE:PBA) (TSE:PPL) by 24.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 143,195 shares of the pipeline company’s stock after purchasing an additional 28,300 shares during the quarter. Forsta AP Fonden’s holdings in Pembina Pipeline were worth $4,862,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of PBA. Stratos Wealth Partners LTD. bought a new position in Pembina Pipeline in the third quarter valued at approximately $100,000. SG Americas Securities LLC bought a new position in shares of Pembina Pipeline during the 2nd quarter worth approximately $178,000. Massachusetts Financial Services Co. MA bought a new position in shares of Pembina Pipeline during the 2nd quarter worth approximately $232,000. Natixis bought a new position in shares of Pembina Pipeline during the 2nd quarter worth approximately $245,000. Finally, Viking Fund Management LLC boosted its stake in shares of Pembina Pipeline by 21.4% during the 3rd quarter. Viking Fund Management LLC now owns 8,500 shares of the pipeline company’s stock worth $289,000 after acquiring an additional 1,500 shares during the period. Hedge funds and other institutional investors own 46.69% of the company’s stock.
PBA has been the subject of several research analyst reports. Zacks Investment Research upgraded Pembina Pipeline from a “strong sell” rating to a “hold” rating in a research note on Friday, September 28th. ValuEngine downgraded Pembina Pipeline from a “hold” rating to a “sell” rating in a research note on Tuesday, September 4th. CIBC reiterated a “buy” rating on shares of Pembina Pipeline in a research note on Friday, November 2nd. National Bank Financial reiterated a “buy” rating on shares of Pembina Pipeline in a research note on Friday, November 2nd. Finally, Raymond James reiterated a “buy” rating on shares of Pembina Pipeline in a research note on Tuesday, November 6th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $40.00.
Pembina Pipeline (NYSE:PBA) (TSE:PPL) last issued its earnings results on Thursday, November 1st. The pipeline company reported $0.60 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.13. Pembina Pipeline had a return on equity of 11.01% and a net margin of 18.00%. The company had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $1.64 billion. During the same period in the previous year, the company posted $0.22 EPS. The firm’s revenue for the quarter was up 95.7% compared to the same quarter last year. On average, research analysts expect that Pembina Pipeline Corp will post 1.69 EPS for the current year.
The company also recently declared a monthly dividend, which will be paid on Friday, December 14th. Investors of record on Friday, November 23rd will be paid a $0.144 dividend. The ex-dividend date of this dividend is Wednesday, November 21st. This is an increase from Pembina Pipeline’s previous monthly dividend of $0.13. This represents a $1.73 annualized dividend and a yield of 5.16%. Pembina Pipeline’s payout ratio is 133.08%.
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Pembina Pipeline Profile
Pembina Pipeline Corporation provides transportation and midstream services for the energy industry in North America. It operates through three divisions: Pipelines, Facilities, and Marketing & New Ventures. The company operates approximately 10,000 kilometers of pipeline network that transports hydrocarbon liquids and extends across Alberta and parts of British Columbia, Saskatchewan, and North Dakota; and owns and operates the Nipisi and Mitsue pipelines, which provide transportation for producers operating in the Pelican Lake and Peace River heavy oil regions of Alberta; transports synthetic crude oil for the Syncrude project and the Horizon project to delivery points near Edmonton, Alberta; and operates Cheecham Lateral, which transports synthetic crude to oil sands producers operating southeast of Fort McMurray, Alberta.
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