Healthcare of Ontario Pension Plan Trust Fund Makes New Investment in Pembina Pipeline Corp. $PBA

Healthcare of Ontario Pension Plan Trust Fund bought a new position in Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) in the 1st quarter, Holdings Channel.com reports. The fund bought 1,219,100 shares of the pipeline company’s stock, valued at approximately $54,551,000.

A number of other institutional investors have also modified their holdings of the stock. Tobam bought a new position in shares of Pembina Pipeline during the fourth quarter worth about $28,000. Caitong International Asset Management Co. Ltd acquired a new position in Pembina Pipeline in the third quarter worth about $31,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Pembina Pipeline in the fourth quarter valued at about $36,000. Larson Financial Group LLC increased its holdings in Pembina Pipeline by 32.4% in the third quarter. Larson Financial Group LLC now owns 1,059 shares of the pipeline company’s stock valued at $43,000 after buying an additional 259 shares during the last quarter. Finally, IFP Advisors Inc increased its holdings in Pembina Pipeline by 74.8% in the fourth quarter. IFP Advisors Inc now owns 1,199 shares of the pipeline company’s stock valued at $46,000 after buying an additional 513 shares during the last quarter. Institutional investors and hedge funds own 55.37% of the company’s stock.

Pembina Pipeline Stock Performance

Shares of PBA opened at $51.37 on Friday. The firm has a fifty day moving average of $48.33 and a 200-day moving average of $44.99. The company has a market cap of $29.87 billion, a price-to-earnings ratio of 26.75 and a beta of 0.57. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.68 and a current ratio of 0.83. Pembina Pipeline Corp. has a 1 year low of $35.45 and a 1 year high of $51.58.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last issued its quarterly earnings data on Thursday, May 7th. The pipeline company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.07. The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.06 billion. Pembina Pipeline had a net margin of 22.22% and a return on equity of 11.47%. Pembina Pipeline’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same period last year, the firm posted $0.80 EPS. As a group, equities analysts anticipate that Pembina Pipeline Corp. will post 2.2 earnings per share for the current year.

Pembina Pipeline Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were paid a $0.735 dividend. The ex-dividend date was Monday, June 15th. This is an increase from Pembina Pipeline’s previous quarterly dividend of $0.71. This represents a $2.94 annualized dividend and a dividend yield of 5.7%. Pembina Pipeline’s dividend payout ratio (DPR) is 110.94%.

Analyst Ratings Changes

PBA has been the topic of a number of research analyst reports. Royal Bank Of Canada increased their target price on Pembina Pipeline from $64.00 to $68.00 and gave the stock an “outperform” rating in a report on Monday, May 11th. TD Securities reiterated a “buy” rating on shares of Pembina Pipeline in a report on Thursday, July 16th. BMO Capital Markets reiterated a “market perform” rating and issued a $68.00 price target on shares of Pembina Pipeline in a report on Friday, July 3rd. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Pembina Pipeline in a research report on Friday, July 3rd. Finally, Scotiabank cut Pembina Pipeline from a “sector outperform” rating to a “sector perform” rating in a research note on Monday, July 20th. Six analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” 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.