Oppenheimer Asset Management Inc. Makes New $980,000 Investment in Pembina Pipeline Corp. $PBA

Oppenheimer Asset Management Inc. bought a new position in shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) in the second quarter, Holdings Channel.com reports. The fund bought 21,186 shares of the pipeline company’s stock, valued at approximately $980,000.

A number of other hedge funds have also modified their holdings of the business. Western Wealth Management LLC purchased a new position in shares of Pembina Pipeline in the first quarter worth about $25,000. Tobam acquired a new stake in Pembina Pipeline in the 4th quarter valued at about $28,000. Caitong International Asset Management Co. Ltd purchased a new position in Pembina Pipeline in the 3rd quarter worth approximately $31,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Pembina Pipeline in the 4th quarter worth approximately $36,000. Finally, Larson Financial Group LLC boosted its holdings 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 purchasing an additional 259 shares during the last quarter. 55.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PBA. Barclays reiterated an “overweight” rating on shares of Pembina Pipeline in a research report on Thursday, May 21st. BMO Capital Markets reaffirmed a “market perform” rating on shares of Pembina Pipeline in a research note on Friday, July 31st. Wall Street Zen raised shares of Pembina Pipeline from a “sell” rating to a “hold” rating in a research report on Saturday, July 25th. Scotiabank lowered shares of Pembina Pipeline from a “sector outperform” rating to a “sector perform” rating in a report on Monday, July 20th. Finally, TD Securities restated a “buy” rating on shares of Pembina Pipeline in a research report on Thursday, July 16th. Five equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Pembina Pipeline has a consensus rating of “Moderate Buy” and an average price target of $64.00.

Pembina Pipeline Stock Down 0.1%

Shares of NYSE PBA opened at $49.29 on Monday. The company has a quick ratio of 0.50, a current ratio of 0.62 and a debt-to-equity ratio of 0.78. The business’s 50 day moving average is $48.38 and its two-hundred day moving average is $46.14. Pembina Pipeline Corp. has a 52-week low of $36.20 and a 52-week high of $51.58. The firm has a market cap of $28.66 billion, a price-to-earnings ratio of 24.16 and a beta of 0.57.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last released its quarterly earnings results on Thursday, July 30th. The pipeline company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.01). Pembina Pipeline had a return on equity of 11.41% and a net margin of 22.41%.The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter in the prior year, the business earned $0.65 earnings per share. The company’s quarterly revenue was up 20.1% on a year-over-year basis. Research analysts predict that Pembina Pipeline Corp. will post 2.23 EPS for the current year.

Pembina Pipeline Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be issued a dividend of $0.735 per share. This represents a $2.94 dividend on an annualized basis and a yield of 6.0%. The ex-dividend date is Tuesday, September 15th. Pembina Pipeline’s dividend payout ratio (DPR) is 104.41%.

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.