Korea Investment CORP Purchases 96,511 Shares of Pembina Pipeline Corp. $PBA

Korea Investment CORP increased its position in shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 47.3% during the 3rd quarter, Holdings Channel reports. The firm owned 300,405 shares of the pipeline company’s stock after purchasing an additional 96,511 shares during the quarter. Korea Investment CORP’s holdings in Pembina Pipeline were worth $12,149,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in PBA. Mediolanum International Funds Ltd lifted its position in shares of Pembina Pipeline by 2.0% during the 2nd quarter. Mediolanum International Funds Ltd now owns 14,760 shares of the pipeline company’s stock worth $551,000 after buying an additional 293 shares in the last quarter. MAI Capital Management boosted its stake in shares of Pembina Pipeline by 2.9% in the 2nd quarter. MAI Capital Management now owns 10,664 shares of the pipeline company’s stock worth $400,000 after buying an additional 302 shares during the last quarter. Midwest Professional Planners LTD. grew its holdings in shares of Pembina Pipeline by 1.9% in the second quarter. Midwest Professional Planners LTD. now owns 16,890 shares of the pipeline company’s stock valued at $634,000 after acquiring an additional 312 shares in the last quarter. PFG Investments LLC increased its position in shares of Pembina Pipeline by 2.5% during the third quarter. PFG Investments LLC now owns 13,000 shares of the pipeline company’s stock valued at $526,000 after acquiring an additional 313 shares during the last quarter. Finally, Public Sector Pension Investment Board increased its position in shares of Pembina Pipeline by 0.6% during the third quarter. Public Sector Pension Investment Board now owns 56,339 shares of the pipeline company’s stock valued at $2,278,000 after acquiring an additional 335 shares during the last quarter. 55.37% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on PBA shares. TD Securities lowered Pembina Pipeline from a “buy” rating to a “hold” rating in a report on Tuesday, February 17th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Pembina Pipeline in a research report on Friday, February 27th. Weiss Ratings upgraded Pembina Pipeline from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 2nd. Finally, Zacks Research raised shares of Pembina Pipeline from a “strong sell” rating to a “hold” rating in a report on Friday, January 23rd. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $60.00.

Pembina Pipeline Price Performance

Shares of NYSE PBA opened at $44.52 on Thursday. The company has a current ratio of 0.61, a quick ratio of 0.47 and a debt-to-equity ratio of 0.80. The stock has a fifty day simple moving average of $41.59 and a two-hundred day simple moving average of $39.62. Pembina Pipeline Corp. has a 1-year low of $34.13 and a 1-year high of $45.09. The firm has a market cap of $25.87 billion, a price-to-earnings ratio of 23.43 and a beta of 0.68.

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

Pembina Pipeline Dividend Announcement

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

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.