Summerhill Capital Management lnc. Takes $610,000 Position in Pembina Pipeline Corp. $PBA

Summerhill Capital Management lnc. bought a new stake in shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 13,662 shares of the pipeline company’s stock, valued at approximately $610,000. Pembina Pipeline comprises about 0.5% of Summerhill Capital Management lnc.’s investment portfolio, making the stock its 26th largest holding.

A number of other large investors also recently added to or reduced their stakes in the business. Tobam purchased a new stake in Pembina Pipeline during the fourth quarter valued at about $28,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Pembina Pipeline during the third quarter valued at about $31,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of Pembina Pipeline in the fourth quarter worth about $36,000. Larson Financial Group LLC increased its holdings in shares of Pembina Pipeline by 32.4% in the third quarter. Larson Financial Group LLC now owns 1,059 shares of the pipeline company’s stock worth $43,000 after buying an additional 259 shares during the period. Finally, IFP Advisors Inc lifted its stake in shares of Pembina Pipeline by 74.8% in the 4th quarter. IFP Advisors Inc now owns 1,199 shares of the pipeline company’s stock valued at $46,000 after acquiring an additional 513 shares during the last quarter. Hedge funds and other institutional investors own 55.37% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Barclays restated an “overweight” rating on shares of Pembina Pipeline in a report on Thursday, May 21st. Royal Bank Of Canada boosted their price objective on Pembina Pipeline from $64.00 to $68.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. JPMorgan Chase & Co. boosted their price objective on Pembina Pipeline from $55.00 to $60.00 and gave the company a “neutral” rating in a research report on Thursday, March 19th. Weiss Ratings reissued a “buy (b)” rating on shares of Pembina Pipeline in a research note on Tuesday, June 16th. Finally, Wall Street Zen cut shares of Pembina Pipeline from a “hold” rating to a “sell” rating in a report on Saturday. Six analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $62.67.

Pembina Pipeline Stock Performance

Pembina Pipeline stock opened at $47.18 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.68 and a debt-to-equity ratio of 0.84. The firm has a 50-day moving average of $46.78 and a 200-day moving average of $43.49. The firm has a market cap of $27.43 billion, a P/E ratio of 24.57 and a beta of 0.57. Pembina Pipeline Corp. has a 1-year low of $35.45 and a 1-year high of $50.10.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last announced its quarterly earnings results on Thursday, May 7th. The pipeline company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.07. The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.06 billion. Pembina Pipeline had a return on equity of 11.47% and a net margin of 22.22%.Pembina Pipeline’s revenue was down 7.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.80 EPS. Sell-side analysts expect that Pembina Pipeline Corp. will post 2.28 EPS for the current year.

Pembina Pipeline Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a dividend of $0.735 per share. This represents a $2.94 annualized dividend and a dividend yield of 6.2%. This is a boost from Pembina Pipeline’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Monday, June 15th. Pembina Pipeline’s payout ratio is presently 110.94%.

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.