Toronto Dominion Bank Has $331.44 Million Stock Holdings in Pembina Pipeline Co. (NYSE:PBA)

Toronto Dominion Bank raised its holdings in shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 97.2% in the 2nd quarter, Holdings Channel.com reports. The fund owned 8,938,488 shares of the pipeline company’s stock after buying an additional 4,405,792 shares during the period. Pembina Pipeline makes up approximately 0.5% of Toronto Dominion Bank’s portfolio, making the stock its 29th largest position. Toronto Dominion Bank’s holdings in Pembina Pipeline were worth $331,439,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Public Sector Pension Investment Board increased its position in shares of Pembina Pipeline by 0.6% during the 2nd quarter. Public Sector Pension Investment Board now owns 170,826 shares of the pipeline company’s stock worth $6,337,000 after purchasing an additional 1,100 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Pembina Pipeline by 30.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,668 shares of the pipeline company’s stock worth $65,000 after purchasing an additional 387 shares during the last quarter. 1832 Asset Management L.P. lifted its holdings in shares of Pembina Pipeline by 18.4% during the second quarter. 1832 Asset Management L.P. now owns 1,627,650 shares of the pipeline company’s stock worth $60,353,000 after buying an additional 253,291 shares in the last quarter. Canada Pension Plan Investment Board grew its stake in shares of Pembina Pipeline by 56.9% in the second quarter. Canada Pension Plan Investment Board now owns 8,387,525 shares of the pipeline company’s stock valued at $311,142,000 after acquiring an additional 3,043,200 shares in the last quarter. Finally, Intech Investment Management LLC boosted its holdings in Pembina Pipeline by 75.4% in the 2nd quarter. Intech Investment Management LLC now owns 68,848 shares of the pipeline company’s stock valued at $2,554,000 after purchasing an additional 29,587 shares during the period. Institutional investors own 55.37% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. UBS Group initiated coverage on shares of Pembina Pipeline in a report on Wednesday, September 11th. They set a “neutral” rating on the stock. Citigroup upped their target price on Pembina Pipeline from $53.00 to $56.00 and gave the company a “neutral” rating in a research report on Wednesday, August 28th. Four research analysts have rated the stock with a hold rating, According to MarketBeat.com, Pembina Pipeline presently has a consensus rating of “Hold” and an average target price of $56.50.

Pembina Pipeline Stock Up 0.6 %

Shares of PBA opened at $41.35 on Wednesday. The firm has a 50 day simple moving average of $39.32 and a two-hundred day simple moving average of $37.28. The company has a market cap of $24.00 billion, a P/E ratio of 17.98, a P/E/G ratio of 5.67 and a beta of 1.25. Pembina Pipeline Co. has a one year low of $28.15 and a one year high of $41.58. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.68 and a quick ratio of 0.55.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last posted its quarterly earnings results on Thursday, August 8th. The pipeline company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.21. The company 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%. Pembina Pipeline’s revenue was up 30.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.45 EPS. Research analysts forecast that Pembina Pipeline Co. will post 2.42 EPS for the current fiscal year.

Pembina Pipeline Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Monday, September 16th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.84%. The ex-dividend date is Monday, September 16th. Pembina Pipeline’s payout ratio is 88.70%.

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.