1832 Asset Management L.P. Raises Position in Pembina Pipeline Co. (NYSE:PBA)

1832 Asset Management L.P. raised its holdings in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 18.4% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 1,627,650 shares of the pipeline company’s stock after acquiring an additional 253,291 shares during the quarter. 1832 Asset Management L.P.’s holdings in Pembina Pipeline were worth $60,353,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PBA. Canada Pension Plan Investment Board lifted its position in shares of Pembina Pipeline by 56.9% during the 2nd quarter. Canada Pension Plan Investment Board now owns 8,387,525 shares of the pipeline company’s stock worth $311,142,000 after purchasing an additional 3,043,200 shares during the last quarter. Capital World Investors purchased a new stake in shares of Pembina Pipeline during the 4th quarter worth $32,541,000. ClearBridge Investments Ltd lifted its position in shares of Pembina Pipeline by 12.3% during the 1st quarter. ClearBridge Investments Ltd now owns 7,173,059 shares of the pipeline company’s stock worth $253,496,000 after purchasing an additional 784,814 shares during the last quarter. Kayne Anderson Capital Advisors LP lifted its position in shares of Pembina Pipeline by 31.1% during the 1st quarter. Kayne Anderson Capital Advisors LP now owns 2,969,440 shares of the pipeline company’s stock worth $104,940,000 after purchasing an additional 704,249 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Pembina Pipeline by 171.1% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,030,000 shares of the pipeline company’s stock worth $36,369,000 after purchasing an additional 650,000 shares during the last quarter. Hedge funds and other institutional investors own 55.37% of the company’s stock.

Pembina Pipeline Price Performance

Shares of PBA opened at $40.59 on Monday. Pembina Pipeline Co. has a 1-year low of $28.15 and a 1-year high of $41.40. The stock has a market cap of $23.54 billion, a PE ratio of 17.65, a price-to-earnings-growth ratio of 5.70 and a beta of 1.25. 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 firm has a fifty day moving average price of $39.17 and a 200 day moving average price of $37.20.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last announced its quarterly earnings results on Thursday, August 8th. The pipeline company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.21. Pembina Pipeline had a net margin of 23.50% and a return on equity of 13.68%. The firm had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.44 billion. During the same period in the previous year, the company earned $0.45 earnings per share. Pembina Pipeline’s quarterly revenue was up 30.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Pembina Pipeline Co. will post 2.38 EPS for the current year.

Pembina Pipeline Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Monday, September 16th will be paid a $0.50 dividend. The ex-dividend date is Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 4.93%. Pembina Pipeline’s dividend payout ratio is presently 88.70%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Citigroup lifted their price objective on shares of Pembina Pipeline from $53.00 to $56.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 28th. UBS Group began coverage on shares of Pembina Pipeline in a research report on Wednesday, September 11th. They issued a “neutral” rating for the company. Four equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Pembina Pipeline presently has a consensus rating of “Hold” and a consensus target price 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.