200,403 Shares in Pembina Pipeline Corp. $PBA Purchased by Man Group plc

Man Group plc acquired a new position in shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 200,403 shares of the pipeline company’s stock, valued at approximately $9,269,000.

A number of other hedge funds have also made changes to their positions in PBA. Cardinal Capital Management Inc. boosted its position in Pembina Pipeline by 2.2% during the second quarter. Cardinal Capital Management Inc. now owns 3,634,579 shares of the pipeline company’s stock valued at $167,835,000 after purchasing an additional 79,578 shares during the last quarter. Vanguard Group Inc. grew its stake in Pembina Pipeline by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 27,233,442 shares of the pipeline company’s stock valued at $1,037,512,000 after purchasing an additional 541,615 shares in the last quarter. K.J. Harrison & Partners Inc increased its position in shares of Pembina Pipeline by 27.3% during the 4th quarter. K.J. Harrison & Partners Inc now owns 207,560 shares of the pipeline company’s stock worth $7,919,000 after purchasing an additional 44,500 shares during the last quarter. Nicola Wealth Management LTD. increased its position in shares of Pembina Pipeline by 28.0% during the 4th quarter. Nicola Wealth Management LTD. now owns 987,800 shares of the pipeline company’s stock worth $37,638,000 after purchasing an additional 216,300 shares during the last quarter. Finally, Bank of Nova Scotia bought a new stake in shares of Pembina Pipeline during the 2nd quarter worth approximately $174,133,000. Institutional investors and hedge funds own 55.37% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on PBA. Scotiabank downgraded Pembina Pipeline from a “sector outperform” rating to a “sector perform” rating in a report on Monday, July 20th. Weiss Ratings downgraded shares of Pembina Pipeline from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, August 18th. Royal Bank Of Canada upped their price target on shares of Pembina Pipeline from $64.00 to $68.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Pembina Pipeline in a research note on Friday, July 3rd. Finally, TD Securities reissued a “buy” rating on shares of Pembina Pipeline in a research report on Thursday, July 16th. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $64.00.

Pembina Pipeline Stock Performance

PBA opened at $47.99 on Friday. Pembina Pipeline Corp. has a 12-month low of $36.20 and a 12-month high of $51.58. The stock has a market cap of $27.91 billion, a price-to-earnings ratio of 23.52 and a beta of 0.57. The business has a 50 day moving average of $48.59 and a 200-day moving average of $46.59. The company has a quick ratio of 0.50, a current ratio of 0.62 and a debt-to-equity ratio of 0.78.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last posted 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). Pembina Pipeline had a return on equity of 11.41% and a net margin of 22.41%.The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same period in the previous year, the firm posted $0.65 earnings per share. The firm’s revenue was up 20.1% compared to the same quarter last year. On average, equities research analysts expect that Pembina Pipeline Corp. will post 2.23 earnings per share for the current year.

Pembina Pipeline Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be given a dividend of $0.735 per share. This represents a $2.94 dividend on an annualized basis and a yield of 6.1%. The ex-dividend date of this dividend is Tuesday, September 15th. Pembina Pipeline’s payout ratio 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.