Walleye Capital LLC Buys New Stake in Pembina Pipeline Corp. $PBA

Walleye Capital LLC purchased a new stake in Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 17,765 shares of the pipeline company’s stock, valued at approximately $795,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Pembina Pipeline during the 4th quarter valued at about $213,701,000. BCV Asset Management Inc. acquired a new position in shares of Pembina Pipeline in the 4th quarter valued at about $61,412,000. Morgan Stanley boosted its stake in shares of Pembina Pipeline by 45.4% in the fourth quarter. Morgan Stanley now owns 4,723,159 shares of the pipeline company’s stock worth $179,763,000 after buying an additional 1,475,320 shares during the last quarter. MUFG Securities EMEA plc purchased a new stake in shares of Pembina Pipeline in the second quarter worth about $52,514,000. Finally, CIBC Asset Management Inc grew its holdings in Pembina Pipeline by 17.8% during the fourth quarter. CIBC Asset Management Inc now owns 8,620,307 shares of the pipeline company’s stock worth $329,245,000 after acquiring an additional 1,304,227 shares during the period. 55.37% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PBA. Wall Street Zen upgraded Pembina Pipeline from a “sell” rating to a “hold” rating in a research report on Saturday. Weiss Ratings lowered Pembina Pipeline from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, July 13th. BMO Capital Markets reaffirmed a “market perform” rating and set a $68.00 price objective on shares of Pembina Pipeline in a research note on Friday, July 3rd. TD Securities reaffirmed a “buy” rating on shares of Pembina Pipeline in a report on Thursday, July 16th. Finally, Scotiabank cut shares of Pembina Pipeline from a “sector outperform” rating to a “sector perform” rating in a research note on Monday. Six research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Pembina Pipeline currently has a consensus rating of “Hold” and an average target price of $64.00.

Pembina Pipeline Price Performance

NYSE:PBA opened at $51.37 on Friday. The company has a quick ratio of 0.68, a current ratio of 0.83 and a debt-to-equity ratio of 0.84. Pembina Pipeline Corp. has a 52 week low of $35.45 and a 52 week high of $51.58. The stock’s 50-day moving average price is $48.33 and its 200-day moving average price is $44.99. The stock has a market capitalization of $29.87 billion, a PE ratio of 26.75 and a beta of 0.57.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last released its quarterly earnings results on Thursday, May 7th. The pipeline company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.07. The company had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.06 billion. Pembina Pipeline had a return on equity of 11.47% and a net margin of 22.22%.Pembina Pipeline’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.80 EPS. As a group, equities analysts expect that Pembina Pipeline Corp. will post 2.22 EPS for the current fiscal year.

Pembina Pipeline Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were paid a dividend of $0.735 per share. This represents a $2.94 annualized dividend and a dividend yield of 5.7%. The ex-dividend date of this dividend was Monday, June 15th. This is a positive change from Pembina Pipeline’s previous quarterly dividend of $0.71. Pembina Pipeline’s dividend payout ratio is currently 110.94%.

Pembina Pipeline 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.