Axa S.A. Raises Stake in Pembina Pipeline Co. (NYSE:PBA)

Axa S.A. grew its position in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 9.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,145 shares of the pipeline company’s stock after purchasing an additional 1,287 shares during the quarter. Axa S.A.’s holdings in Pembina Pipeline were worth $562,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in Pembina Pipeline by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 22,053,531 shares of the pipeline company’s stock worth $779,372,000 after buying an additional 460,761 shares in the last quarter. Toronto Dominion Bank boosted its stake in shares of Pembina Pipeline by 97.2% in the second quarter. Toronto Dominion Bank now owns 8,938,488 shares of the pipeline company’s stock worth $331,439,000 after acquiring an additional 4,405,792 shares during the period. Canada Pension Plan Investment Board grew its position in shares of Pembina Pipeline by 56.9% during the second quarter. Canada Pension Plan Investment Board now owns 8,387,525 shares of the pipeline company’s stock worth $311,142,000 after purchasing an additional 3,043,200 shares in the last quarter. ClearBridge Investments Ltd raised its stake in Pembina Pipeline by 12.3% during the 1st quarter. ClearBridge Investments Ltd now owns 7,173,059 shares of the pipeline company’s stock valued at $253,496,000 after purchasing an additional 784,814 shares during the period. Finally, CIBC Asset Management Inc lifted its holdings in Pembina Pipeline by 7.5% in the 2nd quarter. CIBC Asset Management Inc now owns 5,924,706 shares of the pipeline company’s stock worth $219,689,000 after purchasing an additional 414,419 shares in the last quarter. 55.37% of the stock is owned by hedge funds and other institutional investors.

Pembina Pipeline Stock Performance

NYSE PBA opened at $41.94 on Wednesday. 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 Co. has a 1-year low of $28.15 and a 1-year high of $42.00. The business has a 50 day simple moving average of $39.65 and a two-hundred day simple moving average of $37.48. The stock has a market capitalization of $24.32 billion, a PE ratio of 18.23, a P/E/G ratio of 5.70 and a beta of 1.25.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last announced its quarterly earnings results on Thursday, August 8th. The pipeline company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.21. Pembina Pipeline had a net margin of 23.50% and a return on equity of 13.68%. The company had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.44 billion. During the same quarter in the previous year, the business posted $0.45 earnings per share. Pembina Pipeline’s quarterly revenue was up 30.5% on a year-over-year basis. On average, research analysts predict that Pembina Pipeline Co. will post 2.42 EPS for the current fiscal year.

Pembina Pipeline Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Monday, September 16th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 4.77%. The ex-dividend date of this dividend was Monday, September 16th. Pembina Pipeline’s dividend payout ratio is 88.70%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on PBA shares. UBS Group assumed coverage on shares of Pembina Pipeline in a report on Wednesday, September 11th. They set a “neutral” rating for the company. Citigroup raised their target price on shares of 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.com, the company currently has an average rating of “Hold” and an average price target of $56.50.

About Pembina Pipeline

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.