TD Waterhouse Canada Inc. Boosts Holdings in Pembina Pipeline Corp. $PBA

TD Waterhouse Canada Inc. raised its stake in shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 12.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,662,469 shares of the pipeline company’s stock after acquiring an additional 189,778 shares during the quarter. TD Waterhouse Canada Inc. owned approximately 0.29% of Pembina Pipeline worth $65,975,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PBA. JARISLOWSKY FRASER Ltd raised its position in shares of Pembina Pipeline by 1,894.9% in the third quarter. JARISLOWSKY FRASER Ltd now owns 8,814,455 shares of the pipeline company’s stock worth $356,468,000 after acquiring an additional 8,372,612 shares during the period. Norges Bank acquired a new position in Pembina Pipeline during the 2nd quarter worth about $229,613,000. CIBC Asset Management Inc lifted its position in shares of Pembina Pipeline by 47.4% during the 2nd quarter. CIBC Asset Management Inc now owns 7,547,536 shares of the pipeline company’s stock worth $283,823,000 after purchasing an additional 2,427,939 shares during the last quarter. MUFG Securities EMEA plc purchased a new position in shares of Pembina Pipeline in the 2nd quarter valued at $52,514,000. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Pembina Pipeline by 29.4% in the second quarter. The Manufacturers Life Insurance Company now owns 5,169,664 shares of the pipeline company’s stock valued at $193,094,000 after acquiring an additional 1,174,204 shares during the period. 55.37% of the stock is currently owned by hedge funds and other institutional investors.

Pembina Pipeline Stock Performance

Shares of NYSE PBA opened at $41.68 on Thursday. Pembina Pipeline Corp. has a 52-week low of $34.13 and a 52-week high of $42.40. The company has a quick ratio of 0.41, a current ratio of 0.53 and a debt-to-equity ratio of 0.77. The firm’s 50-day moving average price is $38.42 and its two-hundred day moving average price is $38.24. The stock has a market capitalization of $24.22 billion, a P/E ratio of 20.84 and a beta of 0.66.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last released its quarterly earnings results on Thursday, November 6th. The pipeline company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.14). The company had revenue of $911.47 million for the quarter, compared to the consensus estimate of $1.42 billion. Pembina Pipeline had a return on equity of 11.59% and a net margin of 22.17%.The firm’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.60 earnings per share. As a group, sell-side analysts forecast that Pembina Pipeline Corp. will post 2.15 earnings per share for the current year.

Pembina Pipeline Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th were issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 6.8%. The ex-dividend date of this dividend was Monday, December 15th. Pembina Pipeline’s dividend payout ratio is presently 101.50%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on PBA shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Pembina Pipeline in a research report on Monday, December 29th. TD Securities dropped their price target on Pembina Pipeline from $65.00 to $60.00 and set a “buy” rating for the company in a research note on Tuesday, December 16th. BMO Capital Markets restated an “outperform” rating on shares of Pembina Pipeline in a research note on Tuesday, December 16th. Finally, Zacks Research upgraded shares of Pembina Pipeline from a “strong sell” rating to a “hold” rating in a research note on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Pembina Pipeline currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.00.

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.