Nexus Investment Management ULC Boosts Stake in Pembina Pipeline Co. (NYSE:PBA)

Nexus Investment Management ULC lifted its holdings in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 16.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,500 shares of the pipeline company’s stock after buying an additional 5,000 shares during the period. Nexus Investment Management ULC’s holdings in Pembina Pipeline were worth $1,254,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the company. Cardinal Capital Management Inc. raised its stake in Pembina Pipeline by 1.1% during the first quarter. Cardinal Capital Management Inc. now owns 2,666,186 shares of the pipeline company’s stock worth $94,175,000 after purchasing an additional 30,102 shares during the period. Mather Group LLC. purchased a new position in Pembina Pipeline during the first quarter worth about $88,000. HighPoint Advisor Group LLC purchased a new position in Pembina Pipeline during the fourth quarter worth about $665,000. PNC Financial Services Group Inc. raised its stake in Pembina Pipeline by 5.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 26,973 shares of the pipeline company’s stock worth $928,000 after purchasing an additional 1,437 shares during the period. Finally, Vanguard Group Inc. raised its stake in Pembina Pipeline by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 21,592,770 shares of the pipeline company’s stock worth $743,223,000 after purchasing an additional 370,234 shares during the period. 55.37% of the stock is owned by hedge funds and other institutional investors.

Pembina Pipeline Trading Down 0.7 %

Shares of PBA traded down $0.27 during trading on Friday, reaching $35.95. 1,887,117 shares of the company traded hands, compared to its average volume of 1,091,274. The company has a quick ratio of 0.93, a current ratio of 1.03 and a debt-to-equity ratio of 0.78. The stock has a market cap of $20.84 billion, a PE ratio of 15.63, a price-to-earnings-growth ratio of 5.18 and a beta of 1.24. The stock has a 50-day simple moving average of $36.23 and a 200-day simple moving average of $35.07. Pembina Pipeline Co. has a twelve month low of $28.15 and a twelve month high of $37.67.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last announced its quarterly earnings data on Thursday, May 9th. The pipeline company reported $0.54 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.54. The firm had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.83 billion. Pembina Pipeline had a net margin of 21.61% and a return on equity of 13.33%. On average, analysts anticipate that Pembina Pipeline Co. will post 2.33 earnings per share for the current year.

Pembina Pipeline Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 17th will be issued a $0.501 dividend. The ex-dividend date is Monday, June 17th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.58%. This is a boost from Pembina Pipeline’s previous quarterly dividend of $0.49. Pembina Pipeline’s payout ratio is 86.96%.

Analysts Set New Price Targets

PBA has been the topic of a number of analyst reports. StockNews.com downgraded shares of Pembina Pipeline from a “buy” rating to a “hold” rating in a research note on Monday, May 13th. TheStreet upgraded shares of Pembina Pipeline from a “c” rating to a “b-” rating in a research report on Thursday, February 29th. Scotiabank cut shares of Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a research report on Sunday, May 19th. Finally, CIBC lifted their price target on shares of Pembina Pipeline from $56.00 to $57.00 and gave the company an “outperformer” rating in a research report on Friday, April 19th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Pembina Pipeline has an average rating of “Hold” and an average target price of $52.00.

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.