Corient Private Wealth LP Takes Position in Pembina Pipeline Corp. $PBA

Corient Private Wealth LP purchased a new stake in Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) in the second quarter, HoldingsChannel reports. The fund purchased 38,239 shares of the pipeline company’s stock, valued at approximately $1,774,000.

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

Pembina Pipeline Stock Up 0.1%

Shares of NYSE PBA opened at $48.64 on Friday. 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 simple moving average of $48.75 and a two-hundred day simple moving average of $46.75. The company has a market cap of $28.29 billion, a P/E ratio of 23.84 and a beta of 0.58. 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 (NYSE:PBA) (TSE:PPL) last released its earnings results on Thursday, July 30th. The pipeline company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). Pembina Pipeline had a net margin of 22.41% and a return on equity of 11.41%. The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the prior year, the company posted $0.65 EPS. The company’s quarterly revenue was up 20.1% compared to the same quarter last year. Research analysts anticipate that Pembina Pipeline Corp. will post 2.23 earnings per share for the current year.

Pembina Pipeline Announces Dividend

The firm 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 dividend of $0.735 per share. The ex-dividend date is Tuesday, September 15th. This represents a $2.94 dividend on an annualized basis and a yield of 6.0%. Pembina Pipeline’s payout ratio is presently 104.41%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Royal Bank Of Canada boosted their target price on Pembina Pipeline from $64.00 to $68.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. Barclays restated an “overweight” rating on shares of Pembina Pipeline in a research report on Thursday, May 21st. Scotiabank lowered shares of Pembina Pipeline from a “sector outperform” rating to a “sector perform” rating in a research note on Monday, July 20th. Wall Street Zen upgraded shares of Pembina Pipeline from a “sell” rating to a “hold” rating in a research report on Saturday, July 25th. Finally, BMO Capital Markets reissued a “market perform” rating on shares of Pembina Pipeline in a research note on Friday, July 31st. Five analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.