PNC Financial Services Group Inc. Buys 1,437 Shares of Pembina Pipeline Co. (NYSE:PBA)

PNC Financial Services Group Inc. raised its stake in shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 5.6% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 26,973 shares of the pipeline company’s stock after acquiring an additional 1,437 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Pembina Pipeline were worth $928,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Norges Bank bought a new position in shares of Pembina Pipeline in the fourth quarter worth about $133,917,000. Capital World Investors bought a new position in shares of Pembina Pipeline in the fourth quarter worth about $32,541,000. Mackenzie Financial Corp increased its stake in shares of Pembina Pipeline by 5.7% in the fourth quarter. Mackenzie Financial Corp now owns 12,652,115 shares of the pipeline company’s stock worth $435,812,000 after purchasing an additional 680,945 shares during the period. Toronto Dominion Bank increased its stake in shares of Pembina Pipeline by 8.3% in the third quarter. Toronto Dominion Bank now owns 7,699,608 shares of the pipeline company’s stock worth $231,450,000 after purchasing an additional 593,061 shares during the period. Finally, Triasima Portfolio Management inc. bought a new position in shares of Pembina Pipeline in the fourth quarter worth about $17,285,000. 55.37% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PBA has been the topic of a number of recent analyst reports. TheStreet upgraded Pembina Pipeline from a “c” rating to a “b-” rating in a research note on Thursday, February 29th. StockNews.com lowered Pembina Pipeline from a “buy” rating to a “hold” rating in a research note on Monday, May 13th. Scotiabank lowered Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a research note on Sunday, May 19th. Finally, CIBC lifted their price objective on Pembina Pipeline from $56.00 to $57.00 and gave the company an “outperformer” rating in a report on Friday, April 19th. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $52.00.

Pembina Pipeline Stock Up 1.9 %

NYSE PBA opened at $36.63 on Tuesday. The company has a current ratio of 1.03, a quick ratio of 0.93 and a debt-to-equity ratio of 0.78. The stock’s 50 day moving average is $36.28 and its two-hundred day moving average is $35.11. The company has a market capitalization of $21.24 billion, a price-to-earnings ratio of 15.93, a PEG ratio of 5.18 and a beta of 1.24. Pembina Pipeline Co. has a 1-year low of $28.15 and a 1-year high of $37.67.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last announced its earnings results on Thursday, May 9th. The pipeline company reported $0.54 EPS for the quarter, hitting the consensus estimate of $0.54. The business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.83 billion. Pembina Pipeline had a return on equity of 13.33% and a net margin of 21.61%. Equities analysts forecast that Pembina Pipeline Co. will post 2.33 earnings per share for the current fiscal year.

Pembina Pipeline Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 17th will be issued a $0.501 dividend. This is an increase from Pembina Pipeline’s previous quarterly dividend of $0.49. This represents a $2.00 annualized dividend and a dividend yield of 5.47%. The ex-dividend date is Monday, June 17th. Pembina Pipeline’s payout ratio is presently 86.96%.

Pembina Pipeline Company Profile

Pembina Pipeline Corporation provides energy transportation and midstream services. It operates through three segments: Pipelines, Facilities, and Marketing & New Ventures. The Pipelines segment operates conventional, oil sands and heavy oil, and transmission assets with a transportation capacity of 2.9 millions of barrels of oil equivalent per day, the ground storage capacity of 10 millions of barrels, and rail terminalling capacity of approximately 105 thousands of barrels of oil equivalent per day serving markets and basins across North America.