Winslow Evans & Crocker Inc. raised its position in Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 31.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,000 shares of the pipeline company’s stock after buying an additional 2,174 shares during the period. Winslow Evans & Crocker Inc.’s holdings in Pembina Pipeline Corp. were worth $298,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Van ECK Associates Corp raised its stake in Pembina Pipeline Corp. by 18.0% in the first quarter. Van ECK Associates Corp now owns 3,405 shares of the pipeline company’s stock valued at $108,000 after buying an additional 520 shares during the period. Envestnet Asset Management Inc. raised its stake in Pembina Pipeline Corp. by 9.7% in the first quarter. Envestnet Asset Management Inc. now owns 3,801 shares of the pipeline company’s stock valued at $120,000 after buying an additional 335 shares during the period. Huntington National Bank raised its stake in Pembina Pipeline Corp. by 7.6% in the first quarter. Huntington National Bank now owns 4,803 shares of the pipeline company’s stock valued at $152,000 after buying an additional 341 shares during the period. Check Capital Management Inc. CA purchased a new stake in Pembina Pipeline Corp. during the first quarter valued at $219,000. Finally, Cornerstone Wealth Management LLC raised its stake in Pembina Pipeline Corp. by 2.4% in the first quarter. Cornerstone Wealth Management LLC now owns 7,129 shares of the pipeline company’s stock valued at $228,000 after buying an additional 164 shares during the period. 46.73% of the stock is currently owned by hedge funds and other institutional investors.
Pembina Pipeline Corp. (NYSE PBA) traded up 0.66% during trading on Friday, reaching $32.02. The company had a trading volume of 530,492 shares. Pembina Pipeline Corp. has a 12 month low of $27.44 and a 12 month high of $34.97. The stock has a 50 day moving average price of $33.51 and a 200 day moving average price of $32.45. The firm has a market capitalization of $12.90 billion, a price-to-earnings ratio of 31.39 and a beta of 0.71.
Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) last released its quarterly earnings data on Tuesday, August 1st. The pipeline company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by $0.08. The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.36 billion. Pembina Pipeline Corp. had a net margin of 12.12% and a return on equity of 8.59%. Pembina Pipeline Corp.’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.25 EPS. On average, equities research analysts predict that Pembina Pipeline Corp. will post $1.36 earnings per share for the current year.
The company also recently disclosed a aug 17 dividend, which will be paid on Friday, September 15th. Investors of record on Friday, August 25th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Wednesday, August 23rd. This represents a yield of 4.85%. Pembina Pipeline Corp.’s payout ratio is 161.86%.
PBA has been the topic of several research reports. BidaskClub raised Pembina Pipeline Corp. from a “hold” rating to a “buy” rating in a report on Tuesday, July 25th. Zacks Investment Research raised Pembina Pipeline Corp. from a “hold” rating to a “buy” rating and set a $39.00 target price on the stock in a report on Friday, July 21st. Finally, AltaCorp Capital raised Pembina Pipeline Corp. from a “sector perform” rating to an “outperform” rating in a report on Wednesday, July 19th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Pembina Pipeline Corp. currently has an average rating of “Buy” and an average target price of $43.00.
Pembina Pipeline Corp. Company Profile
Pembina Pipeline Corporation is an energy transportation and service provider. The Company operates through four segments. The Conventional Pipelines segment consists of the tariff-based operations of pipelines and related facilities to deliver crude oil, condensate and natural gas liquids (NGL) in Alberta, British Columbia, Saskatchewan, and North Dakota, United States.
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