Letko Brosseau & Associates Inc. Grows Position in Pembina Pipeline Co. (NYSE:PBA)

Letko Brosseau & Associates Inc. boosted its stake in shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 10.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,882 shares of the pipeline company’s stock after purchasing an additional 1,132 shares during the period. Letko Brosseau & Associates Inc.’s holdings in Pembina Pipeline were worth $441,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of PBA. Tortoise Capital Advisors L.L.C. raised its position in shares of Pembina Pipeline by 6.9% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 4,542,997 shares of the pipeline company’s stock worth $168,512,000 after buying an additional 291,486 shares during the period. ETF Store Inc. lifted its holdings in shares of Pembina Pipeline by 9.3% during the 2nd quarter. ETF Store Inc. now owns 6,502 shares of the pipeline company’s stock valued at $241,000 after acquiring an additional 551 shares in the last quarter. TD Asset Management Inc boosted its position in Pembina Pipeline by 0.9% during the 2nd quarter. TD Asset Management Inc now owns 4,759,869 shares of the pipeline company’s stock worth $176,571,000 after purchasing an additional 44,441 shares during the period. Fiera Capital Corp boosted its position in Pembina Pipeline by 28.4% during the 2nd quarter. Fiera Capital Corp now owns 1,035,444 shares of the pipeline company’s stock worth $38,434,000 after purchasing an additional 228,830 shares during the period. Finally, Versor Investments LP increased its holdings in Pembina Pipeline by 77.9% in the 2nd quarter. Versor Investments LP now owns 16,220 shares of the pipeline company’s stock valued at $602,000 after purchasing an additional 7,100 shares in the last quarter. Hedge funds and other institutional investors own 55.37% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PBA. Scotiabank downgraded Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a research report on Sunday, May 19th. Citigroup increased their price objective on shares of Pembina Pipeline from $53.00 to $56.00 and gave the company a “neutral” rating in a research report on Wednesday, August 28th. Finally, StockNews.com lowered shares of Pembina Pipeline from a “buy” rating to a “hold” rating in a research note on Monday, May 13th. Three investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $56.50.

Pembina Pipeline Stock Down 0.4 %

Shares of NYSE PBA traded down $0.18 during midday trading on Friday, reaching $40.46. 1,982,784 shares of the company’s stock were exchanged, compared to its average volume of 1,136,100. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.55 and a current ratio of 0.68. Pembina Pipeline Co. has a 52-week low of $28.15 and a 52-week high of $40.97. The business’s fifty day moving average price is $38.53 and its two-hundred day moving average price is $36.74. The stock has a market capitalization of $23.47 billion, a PE ratio of 17.59, a price-to-earnings-growth ratio of 5.76 and a beta of 1.25.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last posted its quarterly earnings data on Thursday, August 8th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.21. The company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.44 billion. Pembina Pipeline had a return on equity of 13.68% and a net margin of 23.50%. Pembina Pipeline’s revenue for the quarter was up 30.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.45 EPS. Analysts forecast that Pembina Pipeline Co. will post 2.33 EPS for the current year.

Pembina Pipeline Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Monday, September 16th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 4.94%. Pembina Pipeline’s dividend payout ratio is presently 87.83%.

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.