Acadian Asset Management LLC Takes $1.24 Million Position in Pembina Pipeline Co. (NYSE:PBA)

Acadian Asset Management LLC purchased a new stake in shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 33,534 shares of the pipeline company’s stock, valued at approximately $1,243,000.

Several other hedge funds have also modified their holdings of the stock. Granite Group Advisors LLC grew its stake in shares of Pembina Pipeline by 5.2% during the first quarter. Granite Group Advisors LLC now owns 6,719 shares of the pipeline company’s stock valued at $237,000 after purchasing an additional 330 shares during the last quarter. Gold Investment Management Ltd. boosted its stake in Pembina Pipeline by 4.4% in the second quarter. Gold Investment Management Ltd. now owns 10,562 shares of the pipeline company’s stock valued at $392,000 after acquiring an additional 444 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in Pembina Pipeline by 74.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,081 shares of the pipeline company’s stock valued at $37,000 after acquiring an additional 462 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Pembina Pipeline by 3.8% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 13,558 shares of the pipeline company’s stock valued at $503,000 after acquiring an additional 500 shares during the last quarter. Finally, Cigna Investments Inc. New boosted its stake in Pembina Pipeline by 4.8% in the second quarter. Cigna Investments Inc. New now owns 11,014 shares of the pipeline company’s stock valued at $409,000 after acquiring an additional 506 shares during the last quarter. 55.37% of the stock is owned by institutional investors.

Pembina Pipeline Trading Up 1.2 %

PBA opened at $41.28 on Monday. The firm’s fifty day moving average is $38.87 and its two-hundred day moving average is $37.00. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.55 and a current ratio of 0.68. The firm has a market cap of $23.95 billion, a PE ratio of 17.95, a price-to-earnings-growth ratio of 5.65 and a beta of 1.25. Pembina Pipeline Co. has a twelve month low of $28.15 and a twelve month high of $41.40.

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

Pembina Pipeline Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Monday, September 16th will be issued a dividend of $0.50 per share. The ex-dividend date is Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.84%. Pembina Pipeline’s payout ratio is 87.83%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Scotiabank cut shares of Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a research note on Sunday, May 19th. Citigroup raised their price objective 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. Finally, UBS Group assumed coverage on shares of Pembina Pipeline in a report on Wednesday, September 11th. They issued a “neutral” rating on the stock. Four analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $56.50.

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.