Pembina Pipeline Corp. $PBA Shares Bought by Sienna Gestion

Sienna Gestion raised its stake in Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 1,412,500.0% in the 3rd quarter, Holdings Channel.com reports. The firm owned 339,024 shares of the pipeline company’s stock after acquiring an additional 339,000 shares during the period. Pembina Pipeline makes up 0.9% of Sienna Gestion’s holdings, making the stock its 27th biggest holding. Sienna Gestion’s holdings in Pembina Pipeline were worth $12,500,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PBA. JARISLOWSKY FRASER Ltd increased its holdings in Pembina Pipeline by 1,894.9% in the third quarter. JARISLOWSKY FRASER Ltd now owns 8,814,455 shares of the pipeline company’s stock valued at $356,468,000 after buying an additional 8,372,612 shares during the last quarter. Norges Bank bought a new position in Pembina Pipeline during the 2nd quarter worth approximately $229,613,000. CIBC Asset Management Inc grew its position in shares of Pembina Pipeline by 47.4% in the 2nd quarter. CIBC Asset Management Inc now owns 7,547,536 shares of the pipeline company’s stock worth $283,823,000 after acquiring an additional 2,427,939 shares in the last quarter. MUFG Securities EMEA plc acquired a new position in shares of Pembina Pipeline in the 2nd quarter worth approximately $52,514,000. Finally, The Manufacturers Life Insurance Company raised its position in shares of Pembina Pipeline by 29.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,169,664 shares of the pipeline company’s stock valued at $193,094,000 after acquiring an additional 1,174,204 shares in the last quarter. 55.37% of the stock is owned by institutional investors.

Pembina Pipeline Stock Up 0.7%

PBA opened at $44.61 on Monday. The stock’s 50 day moving average price is $41.20 and its 200 day moving average price is $39.49. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.61 and a quick ratio of 0.47. The stock has a market cap of $25.92 billion, a P/E ratio of 23.48 and a beta of 0.68. Pembina Pipeline Corp. has a 12 month low of $34.13 and a 12 month high of $45.09.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last released its quarterly earnings results on Thursday, February 26th. The pipeline company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.06. Pembina Pipeline had a return on equity of 11.17% and a net margin of 21.76%.The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter in the prior year, the business posted $0.92 earnings per share. The company’s revenue for the quarter was down 10.8% compared to the same quarter last year. As a group, research analysts predict that Pembina Pipeline Corp. will post 2.15 earnings per share for the current year.

Pembina Pipeline Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 6.4%. The ex-dividend date is Monday, March 16th. Pembina Pipeline’s payout ratio is 106.84%.

Analysts Set New Price Targets

Several brokerages recently issued reports on PBA. Zacks Research upgraded Pembina Pipeline from a “strong sell” rating to a “hold” rating in a research note on Friday, January 23rd. Weiss Ratings raised shares of Pembina Pipeline from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 2nd. TD Securities lowered shares of Pembina Pipeline from a “buy” rating to a “hold” rating in a report on Tuesday, February 17th. Finally, BMO Capital Markets reiterated a “market perform” rating on shares of Pembina Pipeline in a research note on Friday, February 27th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Pembina Pipeline currently has an average rating of “Moderate Buy” and an average price target of $60.00.

About Pembina Pipeline

Pembina Pipeline Corporation (NYSE: PBA) is a North American energy infrastructure company that develops, owns and operates midstream assets that transport, store and process hydrocarbons. Its core business focuses on the transportation of crude oil, natural gas liquids (NGLs) and condensate, along with gas processing, fractionation, storage and related marketing services. Pembina serves producers, refiners and other energy companies by providing pipeline capacity, terminal services and midstream solutions that link upstream production to downstream markets and export facilities.

The company’s asset base is concentrated in Western Canada, including major operations in Alberta and British Columbia, and it also has operations and commercial activities that extend into the United States.