Overbrook Management Corp lessened its position in shares of Pembina Pipeline Corp (NYSE:PBA) (TSE:PPL) by 5.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 380,711 shares of the pipeline company’s stock after selling 21,042 shares during the quarter. Pembina Pipeline comprises 2.5% of Overbrook Management Corp’s portfolio, making the stock its 16th biggest holding. Overbrook Management Corp owned approximately 0.08% of Pembina Pipeline worth $11,885,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PBA. Mackenzie Financial Corp grew its holdings in Pembina Pipeline by 34.8% during the 4th quarter. Mackenzie Financial Corp now owns 8,894,527 shares of the pipeline company’s stock valued at $321,804,000 after buying an additional 2,294,315 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in Pembina Pipeline during the 1st quarter valued at approximately $63,426,000. The Manufacturers Life Insurance Company grew its holdings in Pembina Pipeline by 49.1% during the 4th quarter. The Manufacturers Life Insurance Company now owns 5,123,335 shares of the pipeline company’s stock valued at $185,362,000 after buying an additional 1,688,207 shares in the last quarter. Citadel Advisors LLC grew its holdings in Pembina Pipeline by 197.6% during the 1st quarter. Citadel Advisors LLC now owns 2,318,649 shares of the pipeline company’s stock valued at $72,295,000 after buying an additional 1,539,576 shares in the last quarter. Finally, AMP Capital Investors Ltd grew its holdings in Pembina Pipeline by 174.6% during the 4th quarter. AMP Capital Investors Ltd now owns 2,300,577 shares of the pipeline company’s stock valued at $83,563,000 after buying an additional 1,462,723 shares in the last quarter. Institutional investors and hedge funds own 45.53% of the company’s stock.
Several equities analysts have weighed in on the company. ValuEngine upgraded Pembina Pipeline from a “sell” rating to a “hold” rating in a report on Thursday, May 31st. Zacks Investment Research upgraded Pembina Pipeline from a “hold” rating to a “strong-buy” rating and set a $37.00 price target for the company in a report on Tuesday, May 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $37.00.
Shares of Pembina Pipeline stock opened at $34.37 on Thursday. The company has a market capitalization of $17.34 billion, a PE ratio of 25.84 and a beta of 0.67. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.95 and a quick ratio of 0.83. Pembina Pipeline Corp has a one year low of $29.28 and a one year high of $36.99.
Pembina Pipeline (NYSE:PBA) (TSE:PPL) last announced its earnings results on Thursday, May 3rd. The pipeline company reported $0.59 EPS for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.14. The firm had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.92 billion. Pembina Pipeline had a return on equity of 10.07% and a net margin of 17.53%. The company’s quarterly revenue was up 24.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.49 EPS. research analysts forecast that Pembina Pipeline Corp will post 1.95 earnings per share for the current year.
The business also recently announced a monthly dividend, which will be paid on Friday, June 15th. Stockholders of record on Friday, May 25th will be issued a $0.148 dividend. This is a boost from Pembina Pipeline’s previous monthly dividend of $0.14. The ex-dividend date is Thursday, May 24th. This represents a $1.78 dividend on an annualized basis and a dividend yield of 5.17%. Pembina Pipeline’s payout ratio is 133.83%.
Pembina Pipeline Profile
Pembina Pipeline Corporation provides transportation and midstream services for the energy industry in North America. It operates through three divisions: Pipelines, Facilities, and Marketing & New Ventures. The company operates approximately 10,000 kilometers of pipeline network that transports hydrocarbon liquids and extends across Alberta and parts of British Columbia, Saskatchewan, and North Dakota; and owns and operates the Nipisi and Mitsue pipelines, which provide transportation for producers operating in the Pelican Lake and Peace River heavy oil regions of Alberta; transports synthetic crude oil for the Syncrude project and the Horizon project to delivery points near Edmonton, Alberta; and operates Cheecham Lateral, which transports synthetic crude to oil sands producers operating southeast of Fort McMurray, Alberta.
Want to see what other hedge funds are holding PBA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pembina Pipeline Corp (NYSE:PBA) (TSE:PPL).
Receive News & Ratings for Pembina Pipeline Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pembina Pipeline and related companies with MarketBeat.com's FREE daily email newsletter.