Intact Investment Management Inc. Increases Holdings in Pembina Pipeline Co. (NYSE:PBA)

Intact Investment Management Inc. increased its stake in shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 48.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 925,064 shares of the pipeline company’s stock after buying an additional 301,700 shares during the quarter. Pembina Pipeline comprises 1.3% of Intact Investment Management Inc.’s holdings, making the stock its 24th largest position. Intact Investment Management Inc. owned 0.17% of Pembina Pipeline worth $31,850,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. lifted its position in Pembina Pipeline by 6.0% during the fourth quarter. Russell Investments Group Ltd. now owns 764,136 shares of the pipeline company’s stock worth $26,434,000 after buying an additional 43,044 shares in the last quarter. K.J. Harrison & Partners Inc increased its stake in Pembina Pipeline by 39.0% during the fourth quarter. K.J. Harrison & Partners Inc now owns 43,935 shares of the pipeline company’s stock worth $1,515,000 after acquiring an additional 12,335 shares during the last quarter. Jennison Associates LLC increased its stake in Pembina Pipeline by 31.5% during the fourth quarter. Jennison Associates LLC now owns 629,049 shares of the pipeline company’s stock worth $21,653,000 after acquiring an additional 150,550 shares during the last quarter. Duality Advisers LP acquired a new stake in Pembina Pipeline during the fourth quarter worth $441,000. Finally, Signaturefd LLC increased its stake in Pembina Pipeline by 50.6% during the fourth quarter. Signaturefd LLC now owns 10,972 shares of the pipeline company’s stock worth $378,000 after acquiring an additional 3,688 shares during the last quarter. Hedge funds and other institutional investors own 55.37% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. TheStreet raised Pembina Pipeline from a “c” rating to a “b-” rating in a research note on Thursday, February 29th. CIBC raised their target price on Pembina Pipeline from $56.00 to $57.00 and gave the stock an “outperformer” rating in a research note on Friday, April 19th. Finally, StockNews.com raised Pembina Pipeline from a “hold” rating to a “buy” rating in a research note on Friday, April 12th. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $52.00.

Pembina Pipeline Stock Up 0.3 %

Shares of PBA traded up $0.11 during mid-day trading on Friday, hitting $35.82. 724,959 shares of the company’s stock were exchanged, compared to its average volume of 1,113,872. The company has a market cap of $20.76 billion, a price-to-earnings ratio of 16.21, a P/E/G ratio of 5.31 and a beta of 1.20. Pembina Pipeline Co. has a fifty-two week low of $28.15 and a fifty-two week high of $36.17. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.71 and a current ratio of 0.82. The stock’s 50-day moving average is $35.04 and its 200-day moving average is $33.73.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last issued its quarterly earnings results on Thursday, February 22nd. The pipeline company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.34. The business had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.83 billion. Pembina Pipeline had a net margin of 19.43% and a return on equity of 13.11%. On average, sell-side analysts anticipate that Pembina Pipeline Co. will post 2.24 earnings per share for the current fiscal year.

Pembina Pipeline Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were issued a $0.4944 dividend. This is a boost from Pembina Pipeline’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.98 annualized dividend and a yield of 5.52%. Pembina Pipeline’s dividend payout ratio (DPR) is 89.14%.

Pembina Pipeline 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.