Heronetta Management L.P. Purchases 4,000 Shares of Pembina Pipeline Co. (NYSE:PBA)

Heronetta Management L.P. grew its position in shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 2.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 195,698 shares of the pipeline company’s stock after acquiring an additional 4,000 shares during the quarter. Pembina Pipeline comprises 5.5% of Heronetta Management L.P.’s portfolio, making the stock its 7th biggest position. Heronetta Management L.P.’s holdings in Pembina Pipeline were worth $8,071,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Toronto Dominion Bank raised its holdings in Pembina Pipeline by 97.2% in the second quarter. Toronto Dominion Bank now owns 8,938,488 shares of the pipeline company’s stock valued at $331,439,000 after buying an additional 4,405,792 shares during the period. Canada Pension Plan Investment Board increased its holdings in Pembina Pipeline by 56.9% in the 2nd quarter. Canada Pension Plan Investment Board now owns 8,387,525 shares of the pipeline company’s stock valued at $311,142,000 after purchasing an additional 3,043,200 shares in the last quarter. Intact Investment Management Inc. raised its position in Pembina Pipeline by 83.2% in the third quarter. Intact Investment Management Inc. now owns 1,976,934 shares of the pipeline company’s stock valued at $81,498,000 after purchasing an additional 897,940 shares during the period. ClearBridge Investments Ltd lifted its stake in shares of Pembina Pipeline by 12.3% during the first quarter. ClearBridge Investments Ltd now owns 7,173,059 shares of the pipeline company’s stock worth $253,496,000 after purchasing an additional 784,814 shares in the last quarter. Finally, 1832 Asset Management L.P. boosted its position in shares of Pembina Pipeline by 93.7% in the first quarter. 1832 Asset Management L.P. now owns 1,374,359 shares of the pipeline company’s stock worth $48,570,000 after buying an additional 664,843 shares during the period. 55.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PBA has been the topic of several recent research reports. Citigroup boosted their price target on Pembina Pipeline from $53.00 to $56.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 28th. UBS Group began coverage on shares of Pembina Pipeline in a research report on Wednesday, September 11th. They set a “neutral” rating on the stock. Finally, Raymond James began coverage on shares of Pembina Pipeline in a report on Friday, October 11th. They set an “outperform” rating for the company. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Pembina Pipeline presently has an average rating of “Hold” and a consensus price target of $56.50.

Pembina Pipeline Stock Up 1.7 %

Shares of NYSE:PBA opened at $41.22 on Friday. The company has a fifty day simple moving average of $41.60 and a 200 day simple moving average of $38.80. Pembina Pipeline Co. has a 12-month low of $31.51 and a 12-month high of $43.44. The firm has a market cap of $23.93 billion, a PE ratio of 17.18 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 data on Thursday, August 8th. The pipeline company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.21. Pembina Pipeline had a net margin of 23.50% and a return on equity of 13.68%. The firm had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter in the previous year, the company posted $0.45 earnings per share. The firm’s revenue was up 30.5% on a year-over-year basis. On average, equities research analysts anticipate that Pembina Pipeline Co. will post 2.38 EPS for the current fiscal year.

Pembina Pipeline Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be paid a dividend of $0.69 per share. This is a positive change from Pembina Pipeline’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.76 annualized dividend and a yield of 6.70%. Pembina Pipeline’s dividend payout ratio is 85.00%.

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.