Ingalls & Snyder LLC increased its position in shares of Pembina Pipeline Corp (NYSE:PBA) (TSE:PPL) by 3.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 74,813 shares of the pipeline company’s stock after purchasing an additional 2,580 shares during the period. Ingalls & Snyder LLC’s holdings in Pembina Pipeline were worth $2,773,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its holdings in Pembina Pipeline by 2.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 587,547 shares of the pipeline company’s stock valued at $21,862,000 after buying an additional 15,553 shares in the last quarter. Northern Trust Corp lifted its holdings in Pembina Pipeline by 0.4% during the 2nd quarter. Northern Trust Corp now owns 456,707 shares of the pipeline company’s stock valued at $16,994,000 after buying an additional 1,614 shares in the last quarter. Parametric Portfolio Associates LLC lifted its holdings in Pembina Pipeline by 5.7% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 317,245 shares of the pipeline company’s stock valued at $11,805,000 after buying an additional 17,132 shares in the last quarter. United Capital Financial Advisers LLC bought a new stake in Pembina Pipeline during the 2nd quarter valued at about $395,000. Finally, Pinebridge Investments L.P. bought a new stake in Pembina Pipeline during the 2nd quarter valued at about $44,000. 49.68% of the stock is owned by hedge funds and other institutional investors.
NYSE:PBA opened at $38.41 on Thursday. Pembina Pipeline Corp has a one year low of $32.79 and a one year high of $39.32. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.82 and a current ratio of 0.90. The firm has a market cap of $21.07 billion, a P/E ratio of 21.70, a P/E/G ratio of 4.05 and a beta of 0.79. The firm has a 50-day simple moving average of $36.44 and a 200-day simple moving average of $36.54.
Pembina Pipeline (NYSE:PBA) (TSE:PPL) last posted its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.43 by $0.07. Pembina Pipeline had a net margin of 23.79% and a return on equity of 14.01%. The business had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.78 billion. During the same quarter in the previous year, the business posted $0.39 EPS. The company’s quarterly revenue was down 16.9% compared to the same quarter last year. On average, research analysts predict that Pembina Pipeline Corp will post 2.12 EPS for the current fiscal year.
The firm also recently declared a jan 20 dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 24th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Thursday, January 23rd. This represents a dividend yield of 4.7%. Pembina Pipeline’s dividend payout ratio is currently 107.34%.
PBA has been the subject of a number of research analyst reports. ValuEngine upgraded shares of Pembina Pipeline from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Wells Fargo & Co initiated coverage on shares of Pembina Pipeline in a report on Thursday, December 19th. They set an “equal weight” rating and a $50.00 price objective for the company. JPMorgan Chase & Co. initiated coverage on shares of Pembina Pipeline in a report on Tuesday. They set an “overweight” rating and a $58.00 price objective for the company. UBS Group initiated coverage on shares of Pembina Pipeline in a report on Monday, November 25th. They set a “neutral” rating and a $50.00 price objective for the company. Finally, Credit Suisse Group set a $58.00 price objective on shares of Pembina Pipeline and gave the company a “buy” rating in a report on Monday, October 21st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $52.00.
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 Pipelines division operates conventional, transmission, and oil sands and heavy oil pipeline assets with a total capacity of 3 million barrels of oil serving markets and basins across North America through conventional, transmission, and oil sand pipelines assets.
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