Hillsdale Investment Management Inc. Purchases 597,971 Shares of Pembina Pipeline Corp. $PBA

Hillsdale Investment Management Inc. raised its position in shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 187.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 917,125 shares of the pipeline company’s stock after purchasing an additional 597,971 shares during the quarter. Pembina Pipeline accounts for approximately 1.0% of Hillsdale Investment Management Inc.’s holdings, making the stock its 24th biggest position. Hillsdale Investment Management Inc.’s holdings in Pembina Pipeline were worth $35,002,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PBA. Larson Financial Group LLC lifted its stake in shares of Pembina Pipeline by 32.4% in the 3rd quarter. Larson Financial Group LLC now owns 1,059 shares of the pipeline company’s stock worth $43,000 after purchasing an additional 259 shares during the period. Ethic Inc. grew its position in Pembina Pipeline by 2.0% during the fourth quarter. Ethic Inc. now owns 14,150 shares of the pipeline company’s stock valued at $539,000 after buying an additional 278 shares during the period. Public Sector Pension Investment Board increased its holdings in Pembina Pipeline by 0.6% during the third quarter. Public Sector Pension Investment Board now owns 56,339 shares of the pipeline company’s stock valued at $2,278,000 after buying an additional 335 shares during the last quarter. Oppenheimer Asset Management Inc. increased its holdings in Pembina Pipeline by 1.9% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 21,014 shares of the pipeline company’s stock valued at $800,000 after buying an additional 386 shares during the last quarter. Finally, Westside Investment Management Inc. raised its position in Pembina Pipeline by 100.0% in the third quarter. Westside Investment Management Inc. now owns 808 shares of the pipeline company’s stock worth $32,000 after acquiring an additional 404 shares during the period. Hedge funds and other institutional investors own 55.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on PBA shares. Weiss Ratings raised shares of Pembina Pipeline from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 2nd. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Pembina Pipeline in a research report on Tuesday. Wall Street Zen upgraded Pembina Pipeline from a “sell” rating to a “hold” rating in a research report on Sunday, May 10th. Barclays reaffirmed an “overweight” rating on shares of Pembina Pipeline in a research note on Thursday, May 21st. Finally, TD Securities raised Pembina Pipeline from a “hold” rating to a “buy” rating in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $62.67.

Pembina Pipeline Stock Down 1.4%

Shares of PBA stock opened at $46.58 on Friday. The company has a market capitalization of $27.08 billion, a price-to-earnings ratio of 24.26 and a beta of 0.58. Pembina Pipeline Corp. has a one year low of $35.45 and a one year high of $50.10. The company’s fifty day moving average price is $45.58 and its 200-day moving average price is $42.20. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.83 and a quick ratio of 0.68.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last issued its earnings results on Thursday, May 7th. The pipeline company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.07. Pembina Pipeline had a net margin of 22.22% and a return on equity of 11.47%. The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the prior year, the firm posted $0.80 EPS. Pembina Pipeline’s quarterly revenue was down 7.7% compared to the same quarter last year. Sell-side analysts expect that Pembina Pipeline Corp. will post 2.28 EPS for the current fiscal year.

Pembina Pipeline Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a $0.735 dividend. This represents a $2.94 dividend on an annualized basis and a dividend yield of 6.3%. This is a positive change from Pembina Pipeline’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Monday, June 15th. Pembina Pipeline’s dividend payout ratio is currently 108.33%.

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.