Renaissance Technologies LLC Acquires 418,200 Shares of Pembina Pipeline Corp. $PBA

Renaissance Technologies LLC lifted its holdings in shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 1,517.2% during the first quarter, Holdings Channel.com reports. The firm owned 445,764 shares of the pipeline company’s stock after acquiring an additional 418,200 shares during the quarter. Renaissance Technologies LLC’s holdings in Pembina Pipeline were worth $19,952,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Tobam bought a new stake in Pembina Pipeline in the fourth quarter valued at approximately $28,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Pembina Pipeline in the 3rd quarter valued at about $31,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in Pembina Pipeline during the fourth quarter worth approximately $36,000. Larson Financial Group LLC boosted its holdings in shares of Pembina Pipeline by 32.4% during the 3rd quarter. Larson Financial Group LLC now owns 1,059 shares of the pipeline company’s stock worth $43,000 after buying an additional 259 shares in the last quarter. Finally, Fulcrum Asset Management LLP acquired a new stake in shares of Pembina Pipeline during the 3rd quarter worth approximately $46,000. 55.37% of the stock is owned by institutional investors and hedge funds.

Pembina Pipeline Stock Down 0.1%

PBA opened at $50.37 on Friday. The stock has a market cap of $29.29 billion, a PE ratio of 26.24 and a beta of 0.57. The company has a quick ratio of 0.68, a current ratio of 0.83 and a debt-to-equity ratio of 0.84. Pembina Pipeline Corp. has a 52 week low of $35.45 and a 52 week high of $51.58. The business’s fifty day simple moving average is $48.39 and its 200 day simple moving average is $45.41.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last issued its earnings results on Thursday, July 30th. The pipeline company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.01). Pembina Pipeline had a return on equity of 11.47% and a net margin of 22.22%.The firm had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.37 billion. As a group, research analysts expect that Pembina Pipeline Corp. will post 2.2 earnings per share for the current fiscal year.

Pembina Pipeline Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were given 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 yield of 5.8%. Pembina Pipeline’s dividend payout ratio is presently 110.94%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PBA. TD Securities reissued a “buy” rating on shares of Pembina Pipeline in a research report on Thursday, July 16th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Pembina Pipeline in a research note on Friday, July 3rd. Royal Bank Of Canada lifted their price objective on shares of Pembina Pipeline from $64.00 to $68.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. BMO Capital Markets reaffirmed a “market perform” rating and set a $68.00 price objective on shares of Pembina Pipeline in a report on Friday, July 3rd. Finally, Barclays reissued an “overweight” rating on shares of Pembina Pipeline in a report on Thursday, May 21st. Six equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Pembina Pipeline currently has a consensus rating of “Hold” and a consensus target price of $64.00.

Pembina Pipeline 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.