61,864 Shares in Pembina Pipeline Corp. $PBA Purchased by Equitable Holdings Inc.

Equitable Holdings Inc. purchased a new position in Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) in the 2nd quarter, Holdings Channel.com reports. The firm purchased 61,864 shares of the pipeline company’s stock, valued at approximately $2,861,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PBA. The Manufacturers Life Insurance Company bought a new stake in shares of Pembina Pipeline in the 2nd quarter valued at approximately $285,738,000. Canada Pension Plan Investment Board acquired a new position in shares of Pembina Pipeline in the 2nd quarter worth approximately $264,907,000. Deutsche Bank AG bought a new position in shares of Pembina Pipeline during the 2nd quarter worth approximately $262,233,000. Norges Bank bought a new position in shares of Pembina Pipeline during the 4th quarter worth approximately $213,701,000. Finally, Legal & General Group Plc acquired a new stake in Pembina Pipeline in the 2nd quarter valued at $199,230,000. Institutional investors own 55.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. BMO Capital Markets reiterated a “market perform” rating on shares of Pembina Pipeline in a research report on Friday, July 31st. Scotiabank cut Pembina Pipeline from a “sector outperform” rating to a “sector perform” rating in a report on Monday, July 20th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Pembina Pipeline in a report on Friday, July 3rd. Weiss Ratings cut shares of Pembina Pipeline from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, August 18th. Finally, Wall Street Zen raised shares of 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 data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $64.00.

Pembina Pipeline Trading Down 0.5%

PBA opened at $48.41 on Friday. The company has a current ratio of 0.62, a quick ratio of 0.50 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $28.15 billion, a PE ratio of 23.73 and a beta of 0.57. Pembina Pipeline Corp. has a 1-year low of $36.20 and a 1-year high of $51.58. The firm has a 50-day moving average price of $48.56 and a two-hundred day moving average price of $46.58.

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

Pembina Pipeline Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be given a $0.735 dividend. This represents a $2.94 annualized dividend and a yield of 6.1%. The ex-dividend date is Tuesday, September 15th. Pembina Pipeline’s payout ratio is 104.41%.

About Pembina Pipeline

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.