Oppenheimer Asset Management Inc. Purchases 478 Shares of Pembina Pipeline Co. (NYSE:PBA)

Oppenheimer Asset Management Inc. increased its holdings in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 2.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 18,341 shares of the pipeline company’s stock after purchasing an additional 478 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Pembina Pipeline were worth $680,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Mediolanum International Funds Ltd bought a new stake in shares of Pembina Pipeline in the 1st quarter valued at approximately $1,745,000. Quantbot Technologies LP lifted its position in Pembina Pipeline by 10,862.7% in the first quarter. Quantbot Technologies LP now owns 32,340 shares of the pipeline company’s stock worth $1,143,000 after buying an additional 32,045 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Pembina Pipeline by 2.4% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,284,326 shares of the pipeline company’s stock worth $45,360,000 after buying an additional 29,743 shares during the period. UBS Group AG increased its position in Pembina Pipeline by 24.2% during the fourth quarter. UBS Group AG now owns 378,415 shares of the pipeline company’s stock valued at $13,025,000 after acquiring an additional 73,776 shares during the last quarter. Finally, Cetera Advisors LLC raised its stake in shares of Pembina Pipeline by 248.9% in the first quarter. Cetera Advisors LLC now owns 31,948 shares of the pipeline company’s stock valued at $1,129,000 after acquiring an additional 22,790 shares during the period. Hedge funds and other institutional investors own 55.37% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on PBA. UBS Group began coverage on shares of Pembina Pipeline in a research note on Wednesday, September 11th. They set a “neutral” rating for the company. Citigroup upped their target price on Pembina Pipeline from $53.00 to $56.00 and gave the company a “neutral” rating in a research note on Wednesday, August 28th. Four equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, Pembina Pipeline has a consensus rating of “Hold” and an average price target of $56.50.

Pembina Pipeline Trading Up 0.6 %

PBA stock opened at $40.59 on Friday. Pembina Pipeline Co. has a 12 month low of $28.15 and a 12 month high of $41.40. The firm’s 50-day moving average is $39.17 and its 200 day moving average is $37.16. The company has a market capitalization of $23.55 billion, a PE ratio of 17.65, a P/E/G ratio of 5.70 and a beta of 1.25. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.68 and a quick ratio of 0.55.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last issued its earnings results on Thursday, August 8th. The pipeline company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.21. The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.44 billion. Pembina Pipeline had a net margin of 23.50% and a return on equity of 13.68%. The company’s quarterly revenue was up 30.5% compared to the same quarter last year. During the same period last year, the company posted $0.45 earnings per share. On average, research analysts anticipate that Pembina Pipeline Co. will post 2.38 EPS for the current year.

Pembina Pipeline Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Monday, September 16th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.93%. The ex-dividend date of this dividend is Monday, September 16th. Pembina Pipeline’s dividend payout ratio is 88.70%.

Pembina Pipeline 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.