Wellington Management Group LLP Takes $3.73 Million Position in Pembina Pipeline Corp. $PBA

Wellington Management Group LLP bought a new stake in Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) in the second quarter, Holdings Channel reports. The institutional investor bought 80,758 shares of the pipeline company’s stock, valued at approximately $3,735,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Cardinal Capital Management Inc. grew its holdings in shares of Pembina Pipeline by 2.2% during the second quarter. Cardinal Capital Management Inc. now owns 3,634,579 shares of the pipeline company’s stock worth $167,835,000 after purchasing an additional 79,578 shares during the last quarter. Bank of Nova Scotia bought a new position in shares of Pembina Pipeline in the second quarter valued at about $174,133,000. Nicola Wealth Management LTD. raised its holdings in shares of Pembina Pipeline by 28.0% in the fourth quarter. Nicola Wealth Management LTD. now owns 987,800 shares of the pipeline company’s stock valued at $37,638,000 after buying an additional 216,300 shares during the last quarter. Deutsche Bank AG bought a new position in shares of Pembina Pipeline in the second quarter valued at about $262,233,000. Finally, J. Goldman & Co LP acquired a new position in Pembina Pipeline during the 2nd quarter worth about $2,115,000. 55.37% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Weiss Ratings raised shares of Pembina Pipeline from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, September 3rd. Barclays reiterated an “overweight” rating on shares of Pembina Pipeline in a research report on Thursday, May 21st. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Pembina Pipeline in a research note on Friday, July 3rd. BMO Capital Markets reissued a “market perform” rating on shares of Pembina Pipeline in a report on Friday, July 31st. Finally, Wall Street Zen raised shares of Pembina Pipeline from a “sell” rating to a “hold” rating in a report on Saturday, July 25th. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Pembina Pipeline currently has a consensus rating of “Moderate Buy” and an average price target of $64.00.

Pembina Pipeline Price Performance

Pembina Pipeline stock opened at $49.24 on Thursday. The business’s 50-day simple moving average is $48.94 and its 200 day simple moving average is $46.90. The company has a quick ratio of 0.50, a current ratio of 0.62 and a debt-to-equity ratio of 0.78. The stock has a market cap of $28.63 billion, a price-to-earnings ratio of 24.14 and a beta of 0.58. Pembina Pipeline Corp. has a 12-month low of $36.20 and a 12-month high of $51.58.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last announced its quarterly earnings data on Thursday, July 30th. The pipeline company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.01). The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.65 earnings per share. As a group, research analysts anticipate that Pembina Pipeline Corp. will post 2.23 earnings per share for the current year.

Pembina Pipeline Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be paid a $0.735 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $2.94 dividend on an annualized basis and a yield of 6.0%. Pembina Pipeline’s dividend payout ratio (DPR) is presently 104.41%.

About Pembina Pipeline

Pembina Pipeline Corporation is a Canadian energy transportation and midstream services company headquartered in Calgary, Alberta. Founded in 1954, the company develops and operates infrastructure that transports and processes hydrocarbons produced primarily in Western Canada.

Pembina’s operations include conventional and oil sands pipelines, natural gas gathering and processing facilities, fractionation and storage assets, and terminals for hydrocarbon liquids. Its infrastructure supports the movement of crude oil, condensate, natural gas, propane, butane and other natural gas liquids from producing regions to domestic and international markets.

The company also provides marketing, logistics and related midstream services and is pursuing opportunities tied to liquefied natural gas and other energy exports.