Entropy Technologies LP Takes Position in Pembina Pipeline Corp. $PBA

Entropy Technologies LP bought a new stake in shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 13,974 shares of the pipeline company’s stock, valued at approximately $625,000.

A number of other hedge funds have also recently bought and sold shares of the company. Tobam bought a new stake in Pembina Pipeline in the fourth quarter worth about $28,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Pembina Pipeline during the 3rd quarter valued at about $31,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Pembina Pipeline during the 4th quarter valued at about $36,000. Larson Financial Group LLC boosted its holdings in Pembina Pipeline by 32.4% during the third quarter. Larson Financial Group LLC now owns 1,059 shares of the pipeline company’s stock worth $43,000 after buying an additional 259 shares in the last quarter. Finally, IFP Advisors Inc grew its position in Pembina Pipeline by 74.8% in the fourth quarter. IFP Advisors Inc now owns 1,199 shares of the pipeline company’s stock worth $46,000 after buying an additional 513 shares during the last quarter. 55.37% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have issued reports on PBA shares. Weiss Ratings raised Pembina Pipeline from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday. Scotiabank lowered Pembina Pipeline from a “sector outperform” rating to a “sector perform” rating in a research note on Monday, July 20th. BMO Capital Markets restated a “market perform” rating and issued a $68.00 target price on shares of Pembina Pipeline in a report on Friday, July 3rd. Royal Bank Of Canada boosted their target price on Pembina Pipeline from $64.00 to $68.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Finally, Barclays reaffirmed an “overweight” rating on shares of Pembina Pipeline in a report on Thursday, May 21st. Six equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Pembina Pipeline presently has an average rating of “Hold” and a consensus target price of $64.00.

Pembina Pipeline Stock Up 1.1%

PBA stock opened at $50.43 on Thursday. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.83 and a quick ratio of 0.68. The firm has a market capitalization of $29.33 billion, a P/E ratio of 26.27 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. The company’s 50 day simple moving average is $48.37 and its 200-day simple moving average is $45.32.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last posted its quarterly earnings data on Thursday, May 7th. The pipeline company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.07. Pembina Pipeline had a net margin of 22.22% and a return on equity of 11.47%. The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same quarter last year, the business posted $0.80 EPS. The company’s revenue was down 7.7% on a year-over-year basis. As a group, equities research analysts anticipate that Pembina Pipeline Corp. will post 2.2 EPS for the current year.

Pembina Pipeline Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were issued a $0.735 dividend. The ex-dividend date was Monday, June 15th. 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 5.8%. Pembina Pipeline’s dividend payout ratio is currently 110.94%.

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.