1832 Asset Management L.P. Raises Position in Pembina Pipeline Co. (NYSE:PBA)

1832 Asset Management L.P. boosted its stake in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 18.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,627,650 shares of the pipeline company’s stock after buying an additional 253,291 shares during the quarter. 1832 Asset Management L.P. owned approximately 0.28% of Pembina Pipeline worth $60,353,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PBA. Canada Pension Plan Investment Board lifted its stake in Pembina Pipeline by 56.9% in the 2nd quarter. Canada Pension Plan Investment Board now owns 8,387,525 shares of the pipeline company’s stock valued at $311,142,000 after buying an additional 3,043,200 shares in the last quarter. Capital World Investors purchased a new position in Pembina Pipeline in the 4th quarter valued at about $32,541,000. ClearBridge Investments Ltd lifted its stake in Pembina Pipeline by 12.3% in the 1st quarter. ClearBridge Investments Ltd now owns 7,173,059 shares of the pipeline company’s stock worth $253,496,000 after purchasing an additional 784,814 shares in the last quarter. Kayne Anderson Capital Advisors LP lifted its stake in Pembina Pipeline by 31.1% in the 1st quarter. Kayne Anderson Capital Advisors LP now owns 2,969,440 shares of the pipeline company’s stock worth $104,940,000 after purchasing an additional 704,249 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Pembina Pipeline by 171.1% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,030,000 shares of the pipeline company’s stock worth $36,369,000 after purchasing an additional 650,000 shares in the last quarter. 55.37% of the stock is owned by hedge funds and other institutional investors.

Pembina Pipeline Stock Up 0.6 %

Pembina Pipeline stock opened at $40.59 on Monday. Pembina Pipeline Co. has a fifty-two week low of $28.15 and a fifty-two week high of $41.40. 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 50 day moving average price of $39.17 and a 200 day moving average price of $37.20. The company has a market capitalization of $23.54 billion, a PE ratio of 17.65, a price-to-earnings-growth ratio of 5.70 and a beta of 1.25.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last posted its earnings results on Thursday, August 8th. The pipeline company reported $0.75 earnings per share for the quarter, beating 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 firm had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter last year, the firm earned $0.45 EPS. The firm’s revenue for the quarter was up 30.5% on a year-over-year basis. Research analysts expect that Pembina Pipeline Co. will post 2.38 earnings per share for the current year.

Pembina Pipeline Cuts Dividend

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

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Citigroup raised their target price on shares of Pembina Pipeline from $53.00 to $56.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 28th. UBS Group assumed coverage on shares of Pembina Pipeline in a research note on Wednesday, September 11th. They issued a “neutral” rating on the stock. Four analysts have rated the stock with a hold rating, According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price 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.