Walleye Capital LLC Acquires Shares of 17,765 Pembina Pipeline Corp. $PBA

Walleye Capital LLC bought a new stake in Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 17,765 shares of the pipeline company’s stock, valued at approximately $795,000.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Cardinal Capital Management Inc. raised its stake in Pembina Pipeline by 10.0% in the 4th quarter. Cardinal Capital Management Inc. now owns 3,274,336 shares of the pipeline company’s stock valued at $124,621,000 after purchasing an additional 298,412 shares during the last quarter. TD Waterhouse Canada Inc. boosted its stake 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 purchasing an additional 40,944 shares during the last quarter. Vanguard Group Inc. boosted its stake in Pembina Pipeline by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 27,233,442 shares of the pipeline company’s stock worth $1,037,512,000 after purchasing an additional 541,615 shares during the last quarter. K.J. Harrison & Partners Inc grew its holdings in shares of Pembina Pipeline by 27.3% during the fourth quarter. K.J. Harrison & Partners Inc now owns 207,560 shares of the pipeline company’s stock worth $7,919,000 after buying an additional 44,500 shares in the last quarter. Finally, Nicola Wealth Management LTD. grew its holdings in shares of Pembina Pipeline by 28.0% during the fourth quarter. Nicola Wealth Management LTD. now owns 987,800 shares of the pipeline company’s stock worth $37,638,000 after buying an additional 216,300 shares in the last quarter. Hedge funds and other institutional investors own 55.37% of the company’s stock.

Pembina Pipeline Stock Up 0.3%

Shares of NYSE:PBA opened at $51.37 on Friday. The company has a quick ratio of 0.68, a current ratio of 0.83 and a debt-to-equity ratio of 0.84. The business has a fifty day moving average of $48.33 and a two-hundred day moving average of $44.99. The stock has a market cap of $29.87 billion, a P/E ratio of 26.75 and a beta of 0.57. Pembina Pipeline Corp. has a 52-week low of $35.45 and a 52-week high of $51.58.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last issued its earnings results on Thursday, May 7th. The pipeline company reported $0.59 earnings per share (EPS) for the quarter, topping 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 last year, the company earned $0.80 EPS. The company’s revenue for the quarter was down 7.7% on a year-over-year basis. On average, research analysts expect that Pembina Pipeline Corp. will post 2.22 earnings per share for the current year.

Pembina Pipeline Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were issued a $0.735 dividend. This is an increase from Pembina Pipeline’s previous quarterly dividend of $0.71. This represents a $2.94 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date of this dividend was Monday, June 15th. Pembina Pipeline’s payout ratio is currently 110.94%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PBA. BMO Capital Markets reiterated a “market perform” rating and issued a $68.00 target price on shares of Pembina Pipeline in a research report on Friday, July 3rd. Weiss Ratings lowered shares of Pembina Pipeline from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, July 13th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Pembina Pipeline in a research note on Friday, July 3rd. Barclays reiterated an “overweight” rating on shares of Pembina Pipeline in a report on Thursday, May 21st. Finally, TD Securities reissued a “buy” rating on shares of Pembina Pipeline in a research note on Thursday, July 16th. Six analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Pembina Pipeline currently has an average rating of “Hold” and a consensus target price of $64.00.

About Pembina Pipeline

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.