PNC Financial Services Group Inc. Boosts Stock Position in Pembina Pipeline Co. (NYSE:PBA)

PNC Financial Services Group Inc. raised its stake in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 5.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 26,973 shares of the pipeline company’s stock after purchasing an additional 1,437 shares during the period. PNC Financial Services Group Inc.’s holdings in Pembina Pipeline were worth $928,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. ICA Group Wealth Management LLC purchased a new stake in shares of Pembina Pipeline during the fourth quarter worth about $25,000. Baystate Wealth Management LLC purchased a new stake in shares of Pembina Pipeline during the fourth quarter worth about $34,000. EverSource Wealth Advisors LLC grew its stake in shares of Pembina Pipeline by 74.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,081 shares of the pipeline company’s stock worth $37,000 after acquiring an additional 462 shares during the last quarter. First Horizon Advisors Inc. grew its stake in shares of Pembina Pipeline by 303.7% during the fourth quarter. First Horizon Advisors Inc. now owns 1,518 shares of the pipeline company’s stock worth $52,000 after acquiring an additional 1,142 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV grew its stake in shares of Pembina Pipeline by 22.6% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,786 shares of the pipeline company’s stock worth $61,000 after acquiring an additional 329 shares during the last quarter. Hedge funds and other institutional investors own 55.37% of the company’s stock.

Pembina Pipeline Trading Up 1.9 %

Shares of NYSE:PBA opened at $36.63 on Tuesday. Pembina Pipeline Co. has a 12-month low of $28.15 and a 12-month high of $37.67. The company has a market capitalization of $21.24 billion, a PE ratio of 15.93, a PEG ratio of 5.18 and a beta of 1.24. The business has a 50 day moving average of $36.28 and a two-hundred day moving average of $35.11. The company has a current ratio of 1.03, a quick ratio of 0.93 and a debt-to-equity ratio of 0.78.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last announced its earnings results on Thursday, May 9th. The pipeline company reported $0.54 earnings per share for the quarter, hitting the consensus estimate of $0.54. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.83 billion. Pembina Pipeline had a return on equity of 13.33% and a net margin of 21.61%. As a group, analysts forecast that Pembina Pipeline Co. will post 2.33 EPS for the current year.

Pembina Pipeline Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 17th will be paid a dividend of $0.501 per share. This represents a $2.00 annualized dividend and a dividend yield of 5.47%. This is an increase from Pembina Pipeline’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Monday, June 17th. Pembina Pipeline’s dividend payout ratio is presently 86.96%.

Analyst Ratings Changes

PBA has been the topic of a number of recent research reports. TheStreet upgraded Pembina Pipeline from a “c” rating to a “b-” rating in a research report on Thursday, February 29th. StockNews.com lowered Pembina Pipeline from a “buy” rating to a “hold” rating in a research report on Monday, May 13th. Scotiabank lowered Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a research report on Sunday, May 19th. Finally, CIBC upped their target price on Pembina Pipeline from $56.00 to $57.00 and gave the company an “outperformer” rating in a research report on Friday, April 19th. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $52.00.

Pembina Pipeline Company Profile

Pembina Pipeline Corporation provides energy transportation and midstream services. It operates through three segments: Pipelines, Facilities, and Marketing & New Ventures. The Pipelines segment operates conventional, oil sands and heavy oil, and transmission assets with a transportation capacity of 2.9 millions of barrels of oil equivalent per day, the ground storage capacity of 10 millions of barrels, and rail terminalling capacity of approximately 105 thousands of barrels of oil equivalent per day serving markets and basins across North America.