Neuberger Berman Group LLC Invests $4.11 Million in Pembina Pipeline Corp. (PBA) Stock

Neuberger Berman Group LLC acquired a new position in Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 123,939 shares of the pipeline company’s stock, valued at approximately $4,105,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Jarislowsky Fraser Ltd boosted its holdings in Pembina Pipeline Corp. by 10.0% in the 2nd quarter. Jarislowsky Fraser Ltd now owns 12,281,783 shares of the pipeline company’s stock worth $406,177,000 after buying an additional 1,118,498 shares during the period. Bank of Montreal Can boosted its holdings in Pembina Pipeline Corp. by 13.9% in the 2nd quarter. Bank of Montreal Can now owns 12,169,430 shares of the pipeline company’s stock valued at $403,051,000 after purchasing an additional 1,488,648 shares during the period. Vanguard Group Inc. boosted its holdings in Pembina Pipeline Corp. by 5.3% in the 1st quarter. Vanguard Group Inc. now owns 9,479,317 shares of the pipeline company’s stock valued at $300,589,000 after purchasing an additional 474,863 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its holdings in Pembina Pipeline Corp. by 0.8% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 8,687,484 shares of the pipeline company’s stock valued at $274,802,000 after purchasing an additional 71,888 shares during the period. Finally, TD Asset Management Inc. boosted its holdings in Pembina Pipeline Corp. by 0.5% in the 2nd quarter. TD Asset Management Inc. now owns 5,619,175 shares of the pipeline company’s stock valued at $185,835,000 after purchasing an additional 29,382 shares during the period. 49.96% of the stock is owned by institutional investors.

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PBA has been the subject of several analyst reports. Zacks Investment Research downgraded shares of Pembina Pipeline Corp. from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 18th. BidaskClub raised shares of Pembina Pipeline Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, June 27th. Finally, AltaCorp Capital raised shares of Pembina Pipeline Corp. from a “sector perform” rating to an “outperform” rating in a report on Wednesday, July 19th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $43.00.

Pembina Pipeline Corp. (NYSE PBA) opened at 33.99 on Thursday. Pembina Pipeline Corp. has a one year low of $27.44 and a one year high of $34.97. The company has a market capitalization of $13.70 billion, a P/E ratio of 33.23 and a beta of 0.72. The firm has a 50-day moving average of $32.74 and a 200 day moving average of $32.56.

Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) last posted its quarterly earnings results on Tuesday, August 1st. The pipeline company reported $0.19 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.27 by ($0.08). The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.36 billion. Pembina Pipeline Corp. had a return on equity of 8.60% and a net margin of 12.12%. The business’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.25 earnings per share. On average, equities analysts forecast that Pembina Pipeline Corp. will post $1.44 EPS for the current fiscal year.

The company also recently declared a monthly dividend, which will be paid on Friday, October 13th. Shareholders of record on Monday, September 25th will be given a $0.139 dividend. This is a positive change from Pembina Pipeline Corp.’s previous monthly dividend of $0.13. This represents a $1.67 dividend on an annualized basis and a dividend yield of 4.91%. The ex-dividend date of this dividend is Friday, September 22nd. Pembina Pipeline Corp.’s dividend payout ratio is presently 168.04%.

About Pembina Pipeline Corp.

Pembina Pipeline Corporation is an energy transportation and service provider. The Company operates through four segments. The Conventional Pipelines segment consists of the tariff-based operations of pipelines and related facilities to deliver crude oil, condensate and natural gas liquids (NGL) in Alberta, British Columbia, Saskatchewan, and North Dakota, United States.

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Institutional Ownership by Quarter for Pembina Pipeline Corp. (NYSE:PBA)

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