Russell Investments Group Ltd. increased its stake in Pembina Pipeline Corp (NYSE:PBA) (TSE:PPL) by 13.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,343,184 shares of the pipeline company’s stock after purchasing an additional 154,971 shares during the period. Russell Investments Group Ltd.’s holdings in Pembina Pipeline were worth $45,287,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. SG Americas Securities LLC acquired a new position in shares of Pembina Pipeline during the 2nd quarter worth about $178,000. Cubist Systematic Strategies LLC boosted its stake in shares of Pembina Pipeline by 73.9% during the 1st quarter. Cubist Systematic Strategies LLC now owns 6,085 shares of the pipeline company’s stock worth $190,000 after buying an additional 2,585 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new position in shares of Pembina Pipeline during the 2nd quarter worth about $232,000. Natixis acquired a new position in shares of Pembina Pipeline during the 2nd quarter worth about $245,000. Finally, Viking Fund Management LLC boosted its stake in shares of Pembina Pipeline by 21.4% during the 3rd quarter. Viking Fund Management LLC now owns 8,500 shares of the pipeline company’s stock worth $289,000 after buying an additional 1,500 shares during the last quarter. 47.10% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have recently commented on the stock. ValuEngine upgraded shares of Pembina Pipeline from a “sell” rating to a “hold” rating in a research note on Saturday, October 6th. Zacks Investment Research upgraded shares of Pembina Pipeline from a “strong sell” rating to a “hold” rating in a research note on Friday, September 28th.
Pembina Pipeline (NYSE:PBA) (TSE:PPL) last issued its earnings results on Thursday, August 2nd. The pipeline company reported $0.33 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.07). Pembina Pipeline had a net margin of 17.40% and a return on equity of 10.09%. The firm had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.21 billion. On average, sell-side analysts expect that Pembina Pipeline Corp will post 1.72 EPS for the current year.
The company also recently announced a monthly dividend, which will be paid on Thursday, November 15th. Investors of record on Thursday, October 25th will be paid a $0.1472 dividend. This is an increase from Pembina Pipeline’s previous monthly dividend of $0.15. This represents a $1.77 annualized dividend and a yield of 5.46%. The ex-dividend date is Wednesday, October 24th. Pembina Pipeline’s dividend payout ratio (DPR) is 133.08%.
About Pembina Pipeline
Pembina Pipeline Corporation provides transportation and midstream services for the energy industry in North America. It operates through three divisions: Pipelines, Facilities, and Marketing & New Ventures. The company operates approximately 10,000 kilometers of pipeline network that transports hydrocarbon liquids and extends across Alberta and parts of British Columbia, Saskatchewan, and North Dakota; and owns and operates the Nipisi and Mitsue pipelines, which provide transportation for producers operating in the Pelican Lake and Peace River heavy oil regions of Alberta; transports synthetic crude oil for the Syncrude project and the Horizon project to delivery points near Edmonton, Alberta; and operates Cheecham Lateral, which transports synthetic crude to oil sands producers operating southeast of Fort McMurray, Alberta.
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