Man Group plc Makes New $9.27 Million Investment in Pembina Pipeline Corp. $PBA

Man Group plc acquired a new position in shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 200,403 shares of the pipeline company’s stock, valued at approximately $9,269,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cardinal Capital Management Inc. lifted its position in shares of Pembina Pipeline by 2.2% in the second quarter. Cardinal Capital Management Inc. now owns 3,634,579 shares of the pipeline company’s stock valued at $167,835,000 after acquiring an additional 79,578 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Pembina Pipeline by 2.0% during the fourth 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 in the last quarter. K.J. Harrison & Partners Inc raised its stake in Pembina Pipeline by 27.3% in the 4th quarter. K.J. Harrison & Partners Inc now owns 207,560 shares of the pipeline company’s stock valued at $7,919,000 after purchasing an additional 44,500 shares during the last quarter. Nicola Wealth Management LTD. raised its stake in Pembina Pipeline by 28.0% in the 4th quarter. Nicola Wealth Management LTD. now owns 987,800 shares of the pipeline company’s stock valued at $37,638,000 after purchasing an additional 216,300 shares during the last quarter. Finally, Bank of Nova Scotia purchased a new position in Pembina Pipeline in the 2nd quarter valued at $174,133,000. Institutional investors and hedge funds own 55.37% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Scotiabank cut shares of Pembina Pipeline from a “sector outperform” rating to a “sector perform” rating in a research note on Monday, July 20th. Weiss Ratings downgraded shares of Pembina Pipeline from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, August 18th. Wall Street Zen upgraded shares of Pembina Pipeline from a “sell” rating to a “hold” rating in a research report on Saturday, July 25th. TD Securities reaffirmed a “buy” rating on shares of Pembina Pipeline in a research note on Thursday, July 16th. Finally, BMO Capital Markets reaffirmed 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. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $64.00.

Pembina Pipeline Trading Down 0.8%

PBA opened at $47.99 on Friday. The company has a quick ratio of 0.50, a current ratio of 0.62 and a debt-to-equity ratio of 0.78. Pembina Pipeline Corp. has a 52 week low of $36.20 and a 52 week high of $51.58. The business’s 50 day moving average is $48.59 and its two-hundred day moving average is $46.59. The firm has a market cap of $27.91 billion, a price-to-earnings ratio of 23.52 and a beta of 0.57.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last released 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). The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.46 billion. Pembina Pipeline had a return on equity of 11.41% and a net margin of 22.41%.The business’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.65 EPS. On average, research analysts predict that Pembina Pipeline Corp. will post 2.23 EPS for the current year.

Pembina Pipeline Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be paid a $0.735 dividend. This represents a $2.94 dividend on an annualized basis and a dividend yield of 6.1%. The ex-dividend date is Tuesday, September 15th. Pembina Pipeline’s payout ratio is 104.41%.

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.