K.J. Harrison & Partners Inc Has $7.26 Million Position in Pembina Pipeline Corp. $PBA

K.J. Harrison & Partners Inc trimmed its holdings in Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 21.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 162,606 shares of the pipeline company’s stock after selling 44,954 shares during the quarter. Pembina Pipeline comprises 1.2% of K.J. Harrison & Partners Inc’s portfolio, making the stock its 16th biggest holding. K.J. Harrison & Partners Inc’s holdings in Pembina Pipeline were worth $7,264,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Tobam bought a new position in Pembina Pipeline in the fourth quarter valued at about $28,000. Caitong International Asset Management Co. Ltd acquired a new position in Pembina Pipeline in the third quarter valued at about $31,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Pembina Pipeline during the fourth quarter worth about $36,000. Larson Financial Group LLC grew its position in shares of Pembina Pipeline by 32.4% during the 3rd 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. Finally, IFP Advisors Inc grew its position in shares of Pembina Pipeline by 74.8% during the 4th quarter. IFP Advisors Inc now owns 1,199 shares of the pipeline company’s stock worth $46,000 after buying an additional 513 shares during the period. Institutional investors and hedge funds own 55.37% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on PBA shares. Wall Street Zen cut shares of Pembina Pipeline from a “hold” rating to a “sell” rating in a report on Saturday, June 27th. TD Securities upgraded shares of Pembina Pipeline from a “hold” rating to a “buy” rating in a report on Tuesday, May 26th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Pembina Pipeline in a research report on Friday. Barclays restated an “overweight” rating on shares of Pembina Pipeline in a research report on Thursday, May 21st. Finally, JPMorgan Chase & Co. raised their price objective on Pembina Pipeline from $55.00 to $60.00 and gave the stock a “neutral” rating in a research note on Thursday, March 19th. Six equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $64.00.

Pembina Pipeline Stock Performance

Shares of PBA stock opened at $46.40 on Friday. 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 52 week low of $35.45 and a 52 week high of $50.10. The company’s 50 day moving average price is $47.14 and its two-hundred day moving average price is $43.73. The company has a market capitalization of $26.98 billion, a P/E ratio of 24.17 and a beta of 0.57.

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

Pembina Pipeline Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were paid a $0.735 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $2.94 annualized dividend and a dividend yield of 6.3%. This is a positive change from Pembina Pipeline’s previous quarterly dividend of $0.71. Pembina Pipeline’s dividend payout ratio (DPR) is 110.94%.

About Pembina Pipeline

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.