454,500 Shares in Pembina Pipeline Corp. $PBA Acquired by Alberta Investment Management Corp

Alberta Investment Management Corp purchased a new position in shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 454,500 shares of the pipeline company’s stock, valued at approximately $17,315,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cardinal Capital Management Inc. lifted its position in Pembina Pipeline by 10.0% during the 4th quarter. Cardinal Capital Management Inc. now owns 3,274,336 shares of the pipeline company’s stock worth $124,621,000 after acquiring an additional 298,412 shares in the last quarter. TD Waterhouse Canada Inc. lifted its position in Pembina Pipeline by 2.5% during the 4th quarter. TD Waterhouse Canada Inc. now owns 1,703,413 shares of the pipeline company’s stock worth $64,798,000 after acquiring an additional 40,944 shares in the last quarter. Fiera Capital Corp lifted its position in Pembina Pipeline by 12.6% during the 3rd quarter. Fiera Capital Corp now owns 1,073,818 shares of the pipeline company’s stock worth $43,402,000 after acquiring an additional 120,272 shares in the last quarter. Citigroup Inc. lifted its position in Pembina Pipeline by 96.3% during the 3rd quarter. Citigroup Inc. now owns 216,975 shares of the pipeline company’s stock worth $8,775,000 after acquiring an additional 106,419 shares in the last quarter. Finally, Sienna Gestion lifted its position in Pembina Pipeline by 1,412,500.0% during the 3rd quarter. Sienna Gestion now owns 339,024 shares of the pipeline company’s stock worth $12,500,000 after acquiring an additional 339,000 shares in the last quarter. 55.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on PBA shares. BMO Capital Markets reissued a “market perform” rating on shares of Pembina Pipeline in a research report on Tuesday, May 26th. Weiss Ratings raised Pembina Pipeline from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 2nd. Barclays reaffirmed an “overweight” rating on shares of Pembina Pipeline in a research report on Thursday, May 21st. JPMorgan Chase & Co. upped their target price on Pembina Pipeline from $55.00 to $60.00 and gave the company a “neutral” rating in a research report on Thursday, March 19th. Finally, Wall Street Zen raised Pembina Pipeline from a “sell” rating to a “hold” rating in a research report on Sunday, May 10th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Pembina Pipeline presently has an average rating of “Moderate Buy” and a consensus price target of $62.67.

Pembina Pipeline Price Performance

Shares of NYSE PBA opened at $47.75 on Tuesday. Pembina Pipeline Corp. has a twelve month low of $35.45 and a twelve month high of $50.10. The company has a current ratio of 0.83, a quick ratio of 0.68 and a debt-to-equity ratio of 0.84. The company has a market capitalization of $27.77 billion, a price-to-earnings ratio of 24.87 and a beta of 0.57. The business has a 50 day simple moving average of $46.34 and a 200-day simple moving average of $43.02.

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

Pembina Pipeline Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be given a $0.735 dividend. This is a boost from Pembina Pipeline’s previous quarterly dividend of $0.71. This represents a $2.94 annualized dividend and a yield of 6.2%. The ex-dividend date of this dividend is Monday, June 15th. Pembina Pipeline’s dividend payout ratio is 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.