Geode Capital Management LLC Purchases 385,201 Shares of Pembina Pipeline Corp. $PBA

Geode Capital Management LLC lifted its position in shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 7.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,781,068 shares of the pipeline company’s stock after purchasing an additional 385,201 shares during the period. Geode Capital Management LLC owned 0.99% of Pembina Pipeline worth $224,837,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd bought a new position in shares of Pembina Pipeline during the third quarter valued at about $31,000. Westside Investment Management Inc. lifted its position in shares of Pembina Pipeline by 100.0% during the third quarter. Westside Investment Management Inc. now owns 808 shares of the pipeline company’s stock valued at $32,000 after purchasing an additional 404 shares in the last quarter. Physician Wealth Advisors Inc. lifted its position in shares of Pembina Pipeline by 441.2% during the third quarter. Physician Wealth Advisors Inc. now owns 920 shares of the pipeline company’s stock valued at $37,000 after purchasing an additional 750 shares in the last quarter. Larson Financial Group LLC lifted its position in shares of Pembina Pipeline by 32.4% during the third quarter. Larson Financial Group LLC now owns 1,059 shares of the pipeline company’s stock valued at $43,000 after purchasing an additional 259 shares in the last quarter. Finally, Fulcrum Asset Management LLP bought a new position in shares of Pembina Pipeline during the third quarter valued at about $46,000. 55.37% of the stock is owned by institutional investors.

Pembina Pipeline Price Performance

PBA opened at $48.82 on Wednesday. The company has a market capitalization of $28.38 billion, a price-to-earnings ratio of 25.43 and a beta of 0.57. 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 firm has a 50-day moving average price of $45.64 and a 200-day moving average price of $42.30. Pembina Pipeline Corp. has a twelve month low of $35.45 and a twelve month high of $50.10.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last posted its earnings results on Thursday, May 7th. The pipeline company reported $0.59 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $1.06 billion. During the same quarter last year, the company earned $0.80 earnings per share. The company’s revenue was down 7.7% on a year-over-year basis. Equities analysts expect that Pembina Pipeline Corp. will post 2.28 EPS for the current year.

Pembina Pipeline Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a $0.735 dividend. The ex-dividend date is Monday, June 15th. This represents a $2.94 annualized dividend and a yield of 6.0%. This is a boost from Pembina Pipeline’s previous quarterly dividend of $0.71. Pembina Pipeline’s dividend payout ratio is currently 108.33%.

Analysts Set New Price Targets

PBA has been the topic of several research reports. Barclays reaffirmed an “overweight” rating on shares of Pembina Pipeline in a research report on Thursday, May 21st. TD Securities raised shares of Pembina Pipeline from a “hold” rating to a “buy” rating in a research report on Tuesday, May 26th. Weiss Ratings raised shares of Pembina Pipeline from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 2nd. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Pembina Pipeline in a research report on Tuesday, May 26th. Finally, BMO Capital Markets reaffirmed a “market perform” rating on shares of Pembina Pipeline in a research report on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $62.67.

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.