Bridgewater Associates LP grew its position in Pembina Pipeline Corp (NYSE:PBA) (TSE:PPL) by 17.7% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 235,660 shares of the pipeline company’s stock after purchasing an additional 35,398 shares during the quarter. Bridgewater Associates LP’s holdings in Pembina Pipeline were worth $8,002,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of PBA. Tortoise Capital Advisors L.L.C. acquired a new position in shares of Pembina Pipeline in the 2nd quarter valued at approximately $203,334,000. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Pembina Pipeline by 105.7% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,554,569 shares of the pipeline company’s stock valued at $157,642,000 after buying an additional 2,340,323 shares in the last quarter. Pictet Asset Management Ltd. acquired a new position in shares of Pembina Pipeline in the 3rd quarter valued at approximately $65,866,000. Toronto Dominion Bank grew its holdings in shares of Pembina Pipeline by 53.8% during the 2nd quarter. Toronto Dominion Bank now owns 4,049,255 shares of the pipeline company’s stock valued at $140,371,000 after purchasing an additional 1,415,657 shares during the last quarter. Finally, Kayne Anderson Capital Advisors LP grew its holdings in shares of Pembina Pipeline by 33.0% during the 2nd quarter. Kayne Anderson Capital Advisors LP now owns 3,491,200 shares of the pipeline company’s stock valued at $120,786,000 after purchasing an additional 865,900 shares during the last quarter. Institutional investors own 47.63% of the company’s stock.
Several equities research analysts recently issued reports on the stock. Zacks Investment Research lowered shares of Pembina Pipeline from a “buy” rating to a “hold” rating in a report on Wednesday, November 7th. Credit Suisse Group raised shares of Pembina Pipeline from a “neutral” rating to an “outperform” rating in a report on Friday, November 16th. ValuEngine raised shares of Pembina Pipeline from a “sell” rating to a “hold” rating in a report on Saturday, October 6th. Raymond James reaffirmed a “buy” rating on shares of Pembina Pipeline in a report on Tuesday, November 6th. Finally, CIBC reaffirmed a “buy” rating on shares of Pembina Pipeline in a report on Friday, November 2nd. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Pembina Pipeline currently has an average rating of “Buy” and a consensus target price of $40.00.
Pembina Pipeline (NYSE:PBA) (TSE:PPL) last announced its quarterly earnings results on Thursday, November 1st. The pipeline company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.13. The company had revenue of $2.05 billion for the quarter, compared to analyst estimates of $1.64 billion. Pembina Pipeline had a net margin of 18.00% and a return on equity of 11.01%. The firm’s revenue was up 95.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.22 EPS. Equities research analysts forecast that Pembina Pipeline Corp will post 1.69 EPS for the current year.
The business also recently declared a monthly dividend, which will be paid on Friday, December 14th. Investors of record on Friday, November 23rd will be issued a dividend of $0.144 per share. The ex-dividend date of this dividend is Wednesday, November 21st. This is a positive change from Pembina Pipeline’s previous monthly dividend of $0.13. This represents a $1.73 annualized dividend and a dividend yield of 5.13%. Pembina Pipeline’s payout ratio is 130.08%.
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Pembina Pipeline Company Profile
Pembina Pipeline Corporation provides transportation and midstream services for the energy industry in North America. It operates through three divisions: Pipelines, Facilities, and Marketing & New Ventures. The company operates approximately 10,000 kilometers of pipeline network that transports hydrocarbon liquids and extends across Alberta and parts of British Columbia, Saskatchewan, and North Dakota; and owns and operates the Nipisi and Mitsue pipelines, which provide transportation for producers operating in the Pelican Lake and Peace River heavy oil regions of Alberta; transports synthetic crude oil for the Syncrude project and the Horizon project to delivery points near Edmonton, Alberta; and operates Cheecham Lateral, which transports synthetic crude to oil sands producers operating southeast of Fort McMurray, Alberta.
Further Reading: Fundamental Analysis and Choosing Stocks
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