Point72 Europe London LLP Invests $11.85 Million in Pembina Pipeline Co. (NYSE:PBA)

Point72 Europe London LLP purchased a new position in shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 319,600 shares of the pipeline company’s stock, valued at approximately $11,853,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Toronto Dominion Bank boosted its stake in shares of Pembina Pipeline by 97.2% during the 2nd quarter. Toronto Dominion Bank now owns 8,938,488 shares of the pipeline company’s stock valued at $331,439,000 after buying an additional 4,405,792 shares during the period. Public Sector Pension Investment Board raised its holdings in shares of Pembina Pipeline by 0.6% during the second quarter. Public Sector Pension Investment Board now owns 170,826 shares of the pipeline company’s stock worth $6,337,000 after acquiring an additional 1,100 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in Pembina Pipeline by 30.2% during the second quarter. EverSource Wealth Advisors LLC now owns 1,668 shares of the pipeline company’s stock valued at $65,000 after purchasing an additional 387 shares during the last quarter. 1832 Asset Management L.P. grew its stake in Pembina Pipeline by 18.4% in the second quarter. 1832 Asset Management L.P. now owns 1,627,650 shares of the pipeline company’s stock valued at $60,353,000 after purchasing an additional 253,291 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its position in Pembina Pipeline by 56.9% in 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. 55.37% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on PBA shares. Citigroup lifted their price target on Pembina Pipeline from $53.00 to $56.00 and gave the company a “neutral” rating in a report on Wednesday, August 28th. UBS Group started coverage on shares of Pembina Pipeline in a research report on Wednesday, September 11th. They issued a “neutral” rating for the company. Four analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $56.50.

Pembina Pipeline Stock Up 0.6 %

PBA opened at $41.35 on Wednesday. Pembina Pipeline Co. has a twelve month low of $28.15 and a twelve month high of $41.58. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.55 and a current ratio of 0.68. The business has a 50 day moving average price of $39.32 and a 200 day moving average price of $37.28. The firm has a market cap of $24.00 billion, a P/E ratio of 17.98, a price-to-earnings-growth ratio of 5.67 and a beta of 1.25.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last posted its earnings results on Thursday, August 8th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.21. The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.44 billion. Pembina Pipeline had a net margin of 23.50% and a return on equity of 13.68%. Pembina Pipeline’s revenue was up 30.5% compared to the same quarter last year. During the same period last year, the business posted $0.45 EPS. Research analysts forecast that Pembina Pipeline Co. will post 2.42 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. Investors of record on Monday, September 16th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 4.84%. Pembina Pipeline’s dividend payout ratio is presently 88.70%.

Pembina Pipeline 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.