JPMorgan Chase & Co. increased its position in shares of Pembina Pipeline Corp. (NYSE:PBA) by 44.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 168,165 shares of the company’s stock after buying an additional 51,430 shares during the period. JPMorgan Chase & Co.’s holdings in Pembina Pipeline Corp. were worth $5,102,000 as of its most recent filing with the SEC.
Several other large investors also recently modified their holdings of PBA. Bank of Montreal Can bought a new stake in shares of Pembina Pipeline Corp. during the second quarter worth about $330,186,000. Legal & General Group Plc raised its stake in shares of Pembina Pipeline Corp. by 6.4% in the first quarter. Legal & General Group Plc now owns 1,577,210 shares of the company’s stock worth $42,810,000 after buying an additional 95,256 shares during the period. British Columbia Investment Management Corp bought a new stake in shares of Pembina Pipeline Corp. during the second quarter worth about $1,334,000. K.J. Harrison & Partners Inc raised its stake in shares of Pembina Pipeline Corp. by 0.7% in the second quarter. K.J. Harrison & Partners Inc now owns 8,270 shares of the company’s stock worth $250,000 after buying an additional 60 shares during the period. Finally, Franklin Resources Inc. raised its stake in shares of Pembina Pipeline Corp. by 6.9% in the first quarter. Franklin Resources Inc. now owns 17,403 shares of the company’s stock worth $471,000 after buying an additional 1,128 shares during the period. 46.58% of the stock is owned by institutional investors.
Pembina Pipeline Corp. (NYSE:PBA) traded up 0.62% on Friday, hitting $30.80. 26,828 shares of the stock traded hands. Pembina Pipeline Corp. has a 52 week low of $17.88 and a 52 week high of $32.31. The stock has a market cap of $12.07 billion, a price-to-earnings ratio of 37.65 and a beta of 0.68. The firm’s 50 day moving average is $30.24 and its 200 day moving average is $29.59.
Pembina Pipeline Corp. (NYSE:PBA) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.25 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by $0.05. Pembina Pipeline Corp. had a return on equity of 7.13% and a net margin of 10.63%. The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the prior year, the company earned $0.09 EPS. The firm’s revenue was down 15.3% on a year-over-year basis. Equities analysts anticipate that Pembina Pipeline Corp. will post $0.89 earnings per share for the current year.
The business also recently disclosed a oct 16 dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Tuesday, October 25th will be given a dividend of $0.16 per share. This represents a dividend yield of 4.78%. The ex-dividend date of this dividend is Friday, October 21st. Pembina Pipeline Corp.’s dividend payout ratio is 179.27%.
PBA has been the subject of a number of research reports. Zacks Investment Research raised shares of Pembina Pipeline Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday. Canaccord Genuity reaffirmed a “buy” rating on shares of Pembina Pipeline Corp. in a research note on Thursday, September 8th. TD Securities reaffirmed a “buy” rating and issued a $44.00 price objective (up previously from $41.00) on shares of Pembina Pipeline Corp. in a research note on Wednesday, August 10th. Credit Suisse Group AG lowered shares of Pembina Pipeline Corp. from an “outperform” rating to a “neutral” rating in a research note on Monday, June 20th. Finally, RBC Capital Markets reaffirmed an “outperform” rating and issued a $45.00 price objective (up previously from $42.00) on shares of Pembina Pipeline Corp. in a research note on Wednesday, August 10th. Three investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $41.75.
Pembina Pipeline Corp. Company Profile
Pembina Pipeline Corporation (Pembina) is a transportation and midstream service provider. The Company operates through four segments: Conventional Pipelines, Oil Sands & Heavy Oil, Gas Services and Midstream. Pembina owns and operates an integrated system of pipelines that transport various hydrocarbon liquids, including conventional and synthetic crude oil, heavy oil and oil sands products, condensate (diluent) and natural gas liquids (NGL) produced in western Canada and ethane produced in North Dakota.
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