454,500 Shares in Pembina Pipeline Corp. $PBA Purchased by Alberta Investment Management Corp

Alberta Investment Management Corp acquired a new position in shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 454,500 shares of the pipeline company’s stock, valued at approximately $17,315,000. Alberta Investment Management Corp owned approximately 0.08% of Pembina Pipeline at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd purchased a new stake in Pembina Pipeline during the 3rd quarter worth about $31,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Pembina Pipeline during the 4th quarter worth about $36,000. Larson Financial Group LLC increased its position in Pembina Pipeline by 32.4% during the 3rd quarter. Larson Financial Group LLC now owns 1,059 shares of the pipeline company’s stock worth $43,000 after purchasing an additional 259 shares in the last quarter. IFP Advisors Inc increased its position in Pembina Pipeline by 74.8% during the 4th quarter. IFP Advisors Inc now owns 1,199 shares of the pipeline company’s stock worth $46,000 after purchasing an additional 513 shares in the last quarter. Finally, Fulcrum Asset Management LLP purchased a new stake in Pembina Pipeline during the 3rd quarter worth about $46,000. Hedge funds and other institutional investors own 55.37% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on PBA. Wall Street Zen upgraded Pembina Pipeline from a “sell” rating to a “hold” rating in a research report on Sunday, May 10th. Royal Bank Of Canada lifted their price target on Pembina Pipeline from $64.00 to $68.00 and gave the company an “outperform” rating in a report on Monday, May 11th. BMO Capital Markets restated a “market perform” rating on shares of Pembina Pipeline in a report on Tuesday, May 26th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Pembina Pipeline in a report on Tuesday, May 26th. Finally, TD Securities upgraded Pembina Pipeline from a “hold” rating to a “buy” rating in a report on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $62.67.

Pembina Pipeline Stock Down 1.2%

Shares of NYSE:PBA opened at $47.75 on Tuesday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.68 and a current ratio of 0.83. Pembina Pipeline Corp. has a 1 year low of $35.45 and a 1 year high of $50.10. The stock has a market capitalization of $27.77 billion, a P/E ratio of 24.87 and a beta of 0.57. The stock has a 50-day simple moving average of $46.34 and a 200-day simple moving average of $43.02.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last issued its earnings results on Thursday, May 7th. The pipeline company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.07. Pembina Pipeline had a return on equity of 11.47% and a net margin of 22.22%.The business had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter in the previous year, the business earned $0.80 EPS. The company’s revenue for the quarter was down 7.7% on a year-over-year basis. Equities analysts forecast that Pembina Pipeline Corp. will post 2.28 earnings per share for the current year.

Pembina Pipeline Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be issued a dividend of $0.735 per share. This represents a $2.94 dividend on an annualized basis and a dividend yield of 6.2%. The ex-dividend date is Monday, June 15th. This is an increase from Pembina Pipeline’s previous quarterly dividend of $0.71. Pembina Pipeline’s dividend payout ratio (DPR) is presently 108.33%.

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.