Mn Services Vermogensbeheer B.V. boosted its holdings in Pembina Pipeline Corp (NYSE:PBA) (TSE:PPL) by 3.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 80,666 shares of the pipeline company’s stock after acquiring an additional 2,800 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Pembina Pipeline were worth $3,540,000 as of its most recent filing with the SEC.
A number of other large investors have also added to or reduced their stakes in the business. Tortoise Capital Advisors L.L.C. purchased a new position in Pembina Pipeline in the second quarter worth $203,334,000. Connor Clark & Lunn Investment Management Ltd. raised its position in Pembina Pipeline by 105.7% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,554,569 shares of the pipeline company’s stock worth $157,642,000 after acquiring an additional 2,340,323 shares in the last quarter. Toronto Dominion Bank raised its position in Pembina Pipeline by 53.8% in the second quarter. Toronto Dominion Bank now owns 4,049,255 shares of the pipeline company’s stock worth $140,371,000 after acquiring an additional 1,415,657 shares in the last quarter. NN Investment Partners Holdings N.V. raised its position in Pembina Pipeline by 1,383.0% in the second quarter. NN Investment Partners Holdings N.V. now owns 3,721,470 shares of the pipeline company’s stock worth $128,762,000 after acquiring an additional 3,470,534 shares in the last quarter. Finally, Great West Life Assurance Co. Can raised its position in Pembina Pipeline by 1.7% in the second quarter. Great West Life Assurance Co. Can now owns 3,645,448 shares of the pipeline company’s stock worth $126,640,000 after acquiring an additional 62,411 shares in the last quarter. Hedge funds and other institutional investors own 46.98% of the company’s stock.
Several research analysts have issued reports on the company. Zacks Investment Research cut Pembina Pipeline from a “buy” rating to a “hold” rating in a research report on Wednesday. ValuEngine cut Pembina Pipeline from a “hold” rating to a “sell” rating in a research report on Tuesday, September 4th. Raymond James restated a “buy” rating on shares of Pembina Pipeline in a research report on Tuesday. CIBC restated a “buy” rating on shares of Pembina Pipeline in a research report on Friday, November 2nd. Finally, National Bank Financial restated a “buy” rating on shares of Pembina Pipeline in a research report on Friday, November 2nd. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Pembina Pipeline presently has an average rating of “Buy” and an average target price of $40.00.
Pembina Pipeline (NYSE:PBA) (TSE:PPL) last announced its quarterly earnings results on Thursday, November 1st. The pipeline company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.13. Pembina Pipeline had a return on equity of 11.01% and a net margin of 18.00%. The business had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $1.64 billion. During the same quarter last year, the business posted $0.22 earnings per share. The business’s revenue for the quarter was up 95.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Pembina Pipeline Corp will post 1.69 earnings per share for the current fiscal year.
The company also recently declared a monthly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Thursday, October 25th will be given a $0.1472 dividend. The ex-dividend date of this dividend is Wednesday, October 24th. This represents a $1.77 dividend on an annualized basis and a dividend yield of 5.05%. This is a boost from Pembina Pipeline’s previous monthly dividend of $0.15. Pembina Pipeline’s dividend payout ratio (DPR) is currently 133.08%.
Pembina Pipeline Company Profile
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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