TD Asset Management Inc Has $306.63 Million Stake in Pembina Pipeline Corp. $PBA

TD Asset Management Inc raised its holdings in Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 3.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,582,203 shares of the pipeline company’s stock after buying an additional 283,513 shares during the period. TD Asset Management Inc’s holdings in Pembina Pipeline were worth $306,634,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PBA. JARISLOWSKY FRASER Ltd boosted its stake in shares of Pembina Pipeline by 1,894.9% during the 3rd quarter. JARISLOWSKY FRASER Ltd now owns 8,814,455 shares of the pipeline company’s stock worth $356,468,000 after buying an additional 8,372,612 shares during the last quarter. Norges Bank bought a new stake in Pembina Pipeline during the second quarter worth $229,613,000. CIBC Asset Management Inc lifted its stake in Pembina Pipeline by 47.4% in the second quarter. CIBC Asset Management Inc now owns 7,547,536 shares of the pipeline company’s stock valued at $283,823,000 after acquiring an additional 2,427,939 shares during the last quarter. MUFG Securities EMEA plc bought a new position in Pembina Pipeline during the second quarter worth about $52,514,000. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Pembina Pipeline by 29.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,169,664 shares of the pipeline company’s stock worth $193,094,000 after acquiring an additional 1,174,204 shares during the period. 55.37% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PBA. TD Securities cut Pembina Pipeline from a “buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Weiss Ratings restated a “hold (c)” rating on shares of Pembina Pipeline in a research note on Monday, December 29th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Pembina Pipeline in a report 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 equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $60.00.

Pembina Pipeline Stock Performance

Shares of Pembina Pipeline stock opened at $44.25 on Wednesday. The company has a 50 day moving average of $40.08 and a 200-day moving average of $39.05. The company has a market cap of $25.71 billion, a PE ratio of 22.12 and a beta of 0.68. Pembina Pipeline Corp. has a 1-year low of $34.13 and a 1-year high of $44.60. 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 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.