Scotia Capital Inc. raised its position in Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 3.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,207,086 shares of the pipeline company’s stock after buying an additional 78,476 shares during the quarter. Pembina Pipeline Corp. comprises about 1.2% of Scotia Capital Inc.’s holdings, making the stock its 18th largest position. Scotia Capital Inc. owned about 0.55% of Pembina Pipeline Corp. worth $73,036,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Girard Partners LTD. raised its stake in shares of Pembina Pipeline Corp. by 0.9% in the second quarter. Girard Partners LTD. now owns 11,498 shares of the pipeline company’s stock valued at $381,000 after buying an additional 97 shares during the period. Fiera Capital Corp raised its stake in shares of Pembina Pipeline Corp. by 21.4% in the second quarter. Fiera Capital Corp now owns 1,884,414 shares of the pipeline company’s stock valued at $62,606,000 after buying an additional 332,531 shares during the period. Aviva PLC raised its stake in shares of Pembina Pipeline Corp. by 1.7% in the second quarter. Aviva PLC now owns 248,929 shares of the pipeline company’s stock valued at $8,233,000 after buying an additional 4,210 shares during the period. Creative Planning raised its stake in shares of Pembina Pipeline Corp. by 5.2% in the second quarter. Creative Planning now owns 50,515 shares of the pipeline company’s stock valued at $1,673,000 after buying an additional 2,495 shares during the period. Finally, Delta Lloyd Asset Management N.V. bought a new stake in shares of Pembina Pipeline Corp. in the second quarter valued at $3,738,000. Hedge funds and other institutional investors own 49.86% of the company’s stock.
PBA has been the topic of several research reports. BidaskClub upgraded Pembina Pipeline Corp. from a “hold” rating to a “buy” rating in a research note on Tuesday, July 25th. Zacks Investment Research cut Pembina Pipeline Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. Finally, AltaCorp Capital upgraded Pembina Pipeline Corp. from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, July 19th. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. Pembina Pipeline Corp. has a consensus rating of “Buy” and a consensus target price of $43.00.
Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) last announced its earnings results on Tuesday, August 1st. The pipeline company reported $0.19 EPS for the quarter, missing the Zacks’ consensus estimate of $0.27 by ($0.08). Pembina Pipeline Corp. had a return on equity of 8.60% and a net margin of 12.12%. The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same period in the prior year, the business posted $0.25 earnings per share. Pembina Pipeline Corp.’s revenue for the quarter was up 13.5% compared to the same quarter last year. On average, analysts anticipate that Pembina Pipeline Corp. will post $1.27 earnings per share for the current year.
The business also recently announced a monthly dividend, which will be paid on Wednesday, November 15th. Investors of record on Wednesday, October 25th will be issued a $0.144 dividend. This is a boost from Pembina Pipeline Corp.’s previous monthly dividend of $0.14. This represents a $1.73 dividend on an annualized basis and a yield of 5.09%. The ex-dividend date is Tuesday, October 24th. Pembina Pipeline Corp.’s dividend payout ratio (DPR) is currently 168.04%.
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Pembina Pipeline Corp. 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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