Intact Investment Management Inc. Grows Stake in Pembina Pipeline Co. (NYSE:PBA)

Intact Investment Management Inc. increased its stake in shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 83.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,976,934 shares of the pipeline company’s stock after acquiring an additional 897,940 shares during the period. Pembina Pipeline comprises approximately 2.7% of Intact Investment Management Inc.’s investment portfolio, making the stock its 6th largest holding. Intact Investment Management Inc.’s holdings in Pembina Pipeline were worth $81,498,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Van ECK Associates Corp raised its stake in Pembina Pipeline by 14.1% in the third quarter. Van ECK Associates Corp now owns 208,922 shares of the pipeline company’s stock valued at $8,901,000 after buying an additional 25,841 shares during the period. AustralianSuper Pty Ltd acquired a new stake in Pembina Pipeline during the third quarter worth approximately $3,317,000. US Bancorp DE grew its position in Pembina Pipeline by 22.0% during the third quarter. US Bancorp DE now owns 11,161 shares of the pipeline company’s stock worth $460,000 after buying an additional 2,014 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Pembina Pipeline by 8.8% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 14,757 shares of the pipeline company’s stock valued at $609,000 after purchasing an additional 1,199 shares in the last quarter. Finally, Tectonic Advisors LLC acquired a new stake in shares of Pembina Pipeline in the 3rd quarter valued at $301,000. Institutional investors own 55.37% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on PBA. Raymond James began coverage on Pembina Pipeline in a report on Friday, October 11th. They set an “outperform” rating on the stock. Citigroup boosted their price objective on Pembina Pipeline from $53.00 to $56.00 and gave the company a “neutral” rating in a research note on Wednesday, August 28th. Finally, UBS Group initiated coverage on Pembina Pipeline in a research note on Wednesday, September 11th. They issued a “neutral” rating on the stock. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Pembina Pipeline currently has a consensus rating of “Hold” and a consensus price target of $56.50.

Pembina Pipeline Price Performance

Pembina Pipeline stock opened at $41.60 on Monday. The business’s 50 day simple moving average is $41.51 and its 200 day simple moving average is $38.68. Pembina Pipeline Co. has a 12 month low of $31.06 and a 12 month high of $43.44. The company has a market cap of $24.15 billion, a price-to-earnings ratio of 17.33, a PEG ratio of 5.84 and a beta of 1.25. The company has a current ratio of 0.68, a quick ratio of 0.55 and a debt-to-equity ratio of 0.77.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last released its quarterly earnings results on Thursday, August 8th. The pipeline company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.21. The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.44 billion. Pembina Pipeline had a net margin of 23.50% and a return on equity of 13.68%. The business’s revenue for the quarter was up 30.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.45 EPS. Sell-side analysts forecast that Pembina Pipeline Co. will post 2.38 EPS for the current year.

Pembina Pipeline Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Monday, September 16th were given a dividend of $0.50 per share. The ex-dividend date was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.81%. Pembina Pipeline’s dividend payout ratio (DPR) is currently 85.00%.

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.