Oppenheimer Asset Management Inc. bought a new position in shares of Pembina Pipeline Corp (NYSE:PBA) (TSE:PPL) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 7,124 shares of the pipeline company’s stock, valued at approximately $222,000.
A number of other hedge funds have also made changes to their positions in the stock. Mackenzie Financial Corp grew its stake in Pembina Pipeline by 34.8% during the 4th quarter. Mackenzie Financial Corp now owns 8,894,527 shares of the pipeline company’s stock worth $321,804,000 after buying an additional 2,294,315 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec grew its stake in Pembina Pipeline by 0.5% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 8,542,990 shares of the pipeline company’s stock worth $310,301,000 after buying an additional 45,977 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in Pembina Pipeline by 49.1% during the 4th quarter. The Manufacturers Life Insurance Company now owns 5,123,335 shares of the pipeline company’s stock valued at $185,362,000 after purchasing an additional 1,688,207 shares during the last quarter. Scotia Capital Inc. grew its stake in Pembina Pipeline by 20.3% during the 4th quarter. Scotia Capital Inc. now owns 3,052,010 shares of the pipeline company’s stock valued at $110,475,000 after purchasing an additional 514,234 shares during the last quarter. Finally, Kayne Anderson Capital Advisors LP grew its stake in Pembina Pipeline by 16.7% during the 1st quarter. Kayne Anderson Capital Advisors LP now owns 2,625,300 shares of the pipeline company’s stock valued at $81,975,000 after purchasing an additional 375,600 shares during the last quarter. Hedge funds and other institutional investors own 45.52% of the company’s stock.
Pembina Pipeline opened at $34.67 on Friday, MarketBeat Ratings reports. The company has a current ratio of 0.95, a quick ratio of 0.83 and a debt-to-equity ratio of 0.65. The stock has a market cap of $17.40 billion, a price-to-earnings ratio of 26.07 and a beta of 0.67. Pembina Pipeline Corp has a fifty-two week low of $29.28 and a fifty-two week high of $36.99.
Pembina Pipeline (NYSE:PBA) (TSE:PPL) last posted its quarterly earnings results on Thursday, May 3rd. The pipeline company reported $0.59 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.14. The business had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.92 billion. Pembina Pipeline had a return on equity of 10.07% and a net margin of 17.53%. The company’s quarterly revenue was up 24.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.49 EPS. research analysts forecast that Pembina Pipeline Corp will post 1.95 earnings per share for the current year.
The business also recently announced a jun 18 dividend, which will be paid on Sunday, July 15th. Stockholders of record on Monday, June 25th will be paid a $0.19 dividend. The ex-dividend date of this dividend is Friday, June 22nd. This represents a dividend yield of 5.08%. Pembina Pipeline’s payout ratio is 133.83%.
PBA has been the topic of several research analyst reports. Zacks Investment Research upgraded Pembina Pipeline from a “hold” rating to a “strong-buy” rating and set a $37.00 price target on the stock in a research note on Tuesday, May 1st. ValuEngine downgraded Pembina Pipeline from a “hold” rating to a “sell” rating in a research note on Tuesday, May 22nd. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. Pembina Pipeline presently has a consensus rating of “Hold” and an average target price of $37.00.
About Pembina Pipeline
Pembina Pipeline Corporation provides transportation and midstream services for the energy industry in North America. It operates through three divisions: Pipelines, Facilities, and Marketing & New Ventures. The company operates approximately 10,000 kilometers of pipeline network that transports hydrocarbon liquids and extends across Alberta and parts of British Columbia, Saskatchewan, and North Dakota; and owns and operates the Nipisi and Mitsue pipelines, which provide transportation for producers operating in the Pelican Lake and Peace River heavy oil regions of Alberta; transports synthetic crude oil for the Syncrude project and the Horizon project to delivery points near Edmonton, Alberta; and operates Cheecham Lateral, which transports synthetic crude to oil sands producers operating southeast of Fort McMurray, Alberta.
Receive News & Ratings for Pembina Pipeline Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pembina Pipeline and related companies with MarketBeat.com's FREE daily email newsletter.