TD Asset Management Inc Increases Holdings in Pembina Pipeline Co. (NYSE:PBA)

TD Asset Management Inc lifted its position in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 0.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,759,869 shares of the pipeline company’s stock after purchasing an additional 44,441 shares during the quarter. TD Asset Management Inc owned about 0.82% of Pembina Pipeline worth $176,571,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of PBA. ICA Group Wealth Management LLC purchased a new position in shares of Pembina Pipeline in the fourth quarter worth about $25,000. EverSource Wealth Advisors LLC raised its position in Pembina Pipeline by 74.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,081 shares of the pipeline company’s stock valued at $37,000 after acquiring an additional 462 shares in the last quarter. Beacon Capital Management LLC purchased a new position in Pembina Pipeline during the first quarter valued at approximately $37,000. Creekmur Asset Management LLC purchased a new position in Pembina Pipeline during the fourth quarter valued at approximately $62,000. Finally, Mather Group LLC. purchased a new position in Pembina Pipeline during the first quarter valued at approximately $88,000. 55.37% of the stock is currently owned by hedge funds and other institutional investors.

Pembina Pipeline Stock Performance

Shares of NYSE:PBA opened at $40.63 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.68 and a quick ratio of 0.55. The business’s 50 day moving average price is $38.46 and its 200-day moving average price is $36.70. The firm has a market capitalization of $23.57 billion, a PE ratio of 17.66, a P/E/G ratio of 5.76 and a beta of 1.25. Pembina Pipeline Co. has a 1 year low of $28.15 and a 1 year high of $40.90.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last released its quarterly earnings results on Thursday, August 8th. The pipeline company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.21. The business had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.44 billion. Pembina Pipeline had a return on equity of 13.68% and a net margin of 23.50%. The company’s revenue was up 30.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.45 EPS. As a group, equities research analysts expect that Pembina Pipeline Co. will post 2.33 earnings per share for the current fiscal year.

Pembina Pipeline Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Monday, September 16th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.92%. The ex-dividend date of this dividend is Monday, September 16th. Pembina Pipeline’s dividend payout ratio is currently 87.83%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on PBA shares. StockNews.com cut Pembina Pipeline from a “buy” rating to a “hold” rating in a research report on Monday, May 13th. Scotiabank cut Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a research report on Sunday, May 19th. Finally, Citigroup lifted their price target on Pembina Pipeline from $53.00 to $56.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 28th. Three investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $56.50.

About Pembina Pipeline

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.