The Manufacturers Life Insurance Company Acquires Shares of 6,187,904 Pembina Pipeline Corp. $PBA

The Manufacturers Life Insurance Company acquired a new stake in shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) during the second quarter, Holdings Channel.com reports. The fund acquired 6,187,904 shares of the pipeline company’s stock, valued at approximately $285,738,000.

Other institutional investors have also made changes to their positions in the company. Group One Trading LLC purchased a new position in shares of Pembina Pipeline in the second quarter valued at $488,000. OMERS ADMINISTRATION Corp purchased a new stake in Pembina Pipeline during the 2nd quarter worth $2,599,000. Sanctuary Advisors LLC purchased a new stake in Pembina Pipeline during the 2nd quarter worth $317,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Pembina Pipeline in the 2nd quarter worth $7,847,000. Finally, Bank of Nova Scotia acquired a new position in Pembina Pipeline in the 2nd quarter worth $174,133,000. 55.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Barclays reissued an “overweight” rating on shares of Pembina Pipeline in a research report on Thursday, May 21st. Scotiabank cut Pembina Pipeline from a “sector outperform” rating to a “sector perform” rating in a research note on Monday, July 20th. Royal Bank Of Canada increased their price target on Pembina Pipeline from $64.00 to $68.00 and gave the company an “outperform” rating in a report on Monday, May 11th. TD Securities restated a “buy” rating on shares of Pembina Pipeline in a research note on Thursday, July 16th. Finally, Wall Street Zen upgraded Pembina Pipeline from a “sell” rating to a “hold” rating in a report on Saturday, July 25th. Five research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $64.00.

Pembina Pipeline Trading Down 0.0%

NYSE PBA opened at $48.71 on Tuesday. The company has a market capitalization of $28.33 billion, a price-to-earnings ratio of 23.88 and a beta of 0.57. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.62 and a quick ratio of 0.50. Pembina Pipeline Corp. has a 12 month low of $36.20 and a 12 month high of $51.58. The company’s fifty day moving average price is $48.45 and its two-hundred day moving average price is $46.45.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last released its earnings results on Thursday, July 30th. The pipeline company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.01). The company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.46 billion. Pembina Pipeline had a return on equity of 11.41% and a net margin of 22.41%.Pembina Pipeline’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.65 EPS. As a group, research analysts predict that Pembina Pipeline Corp. will post 2.23 earnings per share for the current fiscal year.

Pembina Pipeline Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be issued a $0.735 dividend. This represents a $2.94 annualized dividend and a yield of 6.0%. The ex-dividend date of this dividend is Tuesday, September 15th. Pembina Pipeline’s payout ratio is currently 102.45%.

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.