Purpose Unlimited Inc. Buys Shares of 582,753 Pembina Pipeline Corp. $PBA

Purpose Unlimited Inc. purchased a new stake in Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 582,753 shares of the pipeline company’s stock, valued at approximately $22,201,000. Pembina Pipeline accounts for about 1.0% of Purpose Unlimited Inc.’s holdings, making the stock its 23rd largest position.

Other hedge funds have also modified their holdings of the company. Empowered Funds LLC raised its holdings in Pembina Pipeline by 1.0% in the 4th quarter. Empowered Funds LLC now owns 24,449 shares of the pipeline company’s stock valued at $931,000 after buying an additional 248 shares during the period. Larson Financial Group LLC boosted its stake in Pembina Pipeline by 32.4% during the third quarter. Larson Financial Group LLC now owns 1,059 shares of the pipeline company’s stock worth $43,000 after buying an additional 259 shares during the period. Ethic Inc. boosted its stake in Pembina Pipeline by 2.0% during the fourth quarter. Ethic Inc. now owns 14,150 shares of the pipeline company’s stock worth $539,000 after buying an additional 278 shares during the period. Public Sector Pension Investment Board increased its position in shares of Pembina Pipeline by 0.6% during the third quarter. Public Sector Pension Investment Board now owns 56,339 shares of the pipeline company’s stock valued at $2,278,000 after acquiring an additional 335 shares during the last quarter. Finally, Brown Brothers Harriman & Co. increased its position in shares of Pembina Pipeline by 3.6% during the fourth quarter. Brown Brothers Harriman & Co. now owns 9,768 shares of the pipeline company’s stock valued at $372,000 after acquiring an additional 341 shares during the last quarter. 55.37% of the stock is currently owned by hedge funds and other institutional investors.

Pembina Pipeline Stock Up 0.1%

Shares of PBA opened at $46.20 on Friday. The company’s 50-day simple moving average is $46.48 and its 200-day simple moving average is $43.21. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.68 and a current ratio of 0.83. Pembina Pipeline Corp. has a 1 year low of $35.45 and a 1 year high of $50.10. The stock has a market capitalization of $26.86 billion, a PE ratio of 24.06 and a beta of 0.57.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last announced its quarterly earnings data on Thursday, May 7th. The pipeline company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.07. The firm had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.06 billion. Pembina Pipeline had a net margin of 22.22% and a return on equity of 11.47%. The business’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.80 earnings per share. Analysts forecast that Pembina Pipeline Corp. will post 2.28 earnings per share for the current fiscal year.

Pembina Pipeline Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be given a $0.735 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $2.94 annualized dividend and a yield of 6.4%. This is a boost from Pembina Pipeline’s previous quarterly dividend of $0.71. Pembina Pipeline’s dividend payout ratio is 110.94%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. BMO Capital Markets reissued a “market perform” rating on shares of Pembina Pipeline in a research note on Tuesday, May 26th. Royal Bank Of Canada increased their price objective on shares of Pembina Pipeline from $64.00 to $68.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Weiss Ratings reiterated a “buy (b)” rating on shares of Pembina Pipeline in a report on Tuesday. TD Securities raised Pembina Pipeline from a “hold” rating to a “buy” rating in a research report on Tuesday, May 26th. Finally, Barclays restated an “overweight” rating on shares of Pembina Pipeline in a research note on Thursday, May 21st. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Pembina Pipeline presently has a consensus rating of “Moderate Buy” and a consensus target price of $62.67.

Pembina Pipeline Company Profile

Pembina Pipeline Corporation (NYSE: PBA) is a North American energy infrastructure company that develops, owns and operates midstream assets that transport, store and process hydrocarbons. Its core business focuses on the transportation of crude oil, natural gas liquids (NGLs) and condensate, along with gas processing, fractionation, storage and related marketing services. Pembina serves producers, refiners and other energy companies by providing pipeline capacity, terminal services and midstream solutions that link upstream production to downstream markets and export facilities.

The company’s asset base is concentrated in Western Canada, including major operations in Alberta and British Columbia, and it also has operations and commercial activities that extend into the United States.