Varma Mutual Pension Insurance Co Buys 24,400 Shares of Pembina Pipeline Corp. $PBA

Varma Mutual Pension Insurance Co grew its stake in shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 8.6% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 309,779 shares of the pipeline company’s stock after buying an additional 24,400 shares during the period. Varma Mutual Pension Insurance Co’s holdings in Pembina Pipeline were worth $12,528,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. JARISLOWSKY FRASER Ltd increased its stake in Pembina Pipeline by 1,894.9% during the third quarter. JARISLOWSKY FRASER Ltd now owns 8,814,455 shares of the pipeline company’s stock valued at $356,468,000 after acquiring an additional 8,372,612 shares during the period. Norges Bank acquired a new stake in shares of Pembina Pipeline during the 2nd quarter worth approximately $229,613,000. CIBC Asset Management Inc grew its holdings 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 in the last quarter. MUFG Securities EMEA plc bought a new stake in shares of Pembina Pipeline during the second quarter valued at approximately $52,514,000. Finally, The Manufacturers Life Insurance Company raised its stake 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 purchasing an additional 1,174,204 shares in the last quarter. Institutional investors own 55.37% of the company’s stock.

Pembina Pipeline Price Performance

Shares of Pembina Pipeline stock opened at $43.62 on Friday. The stock has a market capitalization of $25.34 billion, a price-to-earnings ratio of 21.81 and a beta of 0.68. The firm’s 50-day moving average price is $39.30 and its two-hundred day moving average price is $38.64. The company has a current ratio of 0.53, a quick ratio of 0.41 and a debt-to-equity ratio of 0.77. Pembina Pipeline Corp. has a 1-year low of $34.13 and a 1-year high of $44.34.

Wall Street Analyst Weigh In

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

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.