Korea Investment CORP Invests $6.86 Million in Pembina Pipeline Corp. $PBA

Korea Investment CORP purchased a new position in shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) during the 2nd quarter, HoldingsChannel.com reports. The firm purchased 148,255 shares of the pipeline company’s stock, valued at approximately $6,857,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Western Wealth Management LLC acquired a new position in Pembina Pipeline in the 1st quarter valued at approximately $25,000. Tobam acquired a new position in shares of Pembina Pipeline during the fourth quarter worth $28,000. Dunhill Financial LLC bought a new stake in shares of Pembina Pipeline in the second quarter worth $31,000. N.E.W. Advisory Services LLC bought a new stake in shares of Pembina Pipeline in the second quarter worth $31,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in Pembina Pipeline in the third quarter valued at $31,000. Institutional investors and hedge funds own 55.37% of the company’s stock.

Pembina Pipeline Stock Performance

NYSE PBA opened at $48.71 on Tuesday. Pembina Pipeline Corp. has a 1 year low of $36.20 and a 1 year high of $51.58. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.62 and a quick ratio of 0.50. The firm has a market cap of $28.33 billion, a price-to-earnings ratio of 23.88 and a beta of 0.57. The company has a fifty day moving average price of $48.45 and a 200-day moving average price of $46.45.

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

Pembina Pipeline Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be paid a $0.735 dividend. 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 payout ratio is currently 102.45%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on PBA shares. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Pembina Pipeline in a research report on Friday, July 3rd. BMO Capital Markets reissued a “market perform” rating on shares of Pembina Pipeline in a research report on Friday, July 31st. Barclays reaffirmed an “overweight” rating on shares of Pembina Pipeline in a research note on Thursday, May 21st. Royal Bank Of Canada upped their price target on shares of Pembina Pipeline from $64.00 to $68.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. Finally, Scotiabank downgraded Pembina Pipeline from a “sector outperform” rating to a “sector perform” rating in a research note on Monday, July 20th. Five investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $64.00.

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.