NEOS Investment Management LLC Acquires 45,253 Shares of Pembina Pipeline Corp. $PBA

NEOS Investment Management LLC grew its holdings in Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 7.4% during the second quarter, Holdings Channel reports. The firm owned 653,163 shares of the pipeline company’s stock after acquiring an additional 45,253 shares during the quarter. NEOS Investment Management LLC’s holdings in Pembina Pipeline were worth $30,210,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. FIL Ltd grew its stake in Pembina Pipeline by 2.6% during the fourth quarter. FIL Ltd now owns 13,978,558 shares of the pipeline company’s stock worth $532,541,000 after purchasing an additional 359,109 shares during the period. The Manufacturers Life Insurance Company increased its holdings in Pembina Pipeline by 1.0% in the fourth quarter. The Manufacturers Life Insurance Company now owns 9,828,960 shares of the pipeline company’s stock worth $375,236,000 after purchasing an additional 94,655 shares in the last quarter. CIBC Asset Management Inc lifted its stake in Pembina Pipeline by 17.8% in the fourth quarter. CIBC Asset Management Inc now owns 8,620,307 shares of the pipeline company’s stock valued at $329,245,000 after buying an additional 1,304,227 shares during the period. Scotia Capital Inc. lifted its stake in Pembina Pipeline by 12.6% in the third quarter. Scotia Capital Inc. now owns 6,425,487 shares of the pipeline company’s stock valued at $258,724,000 after buying an additional 717,773 shares during the period. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Pembina Pipeline during the 2nd quarter worth approximately $285,738,000. Institutional investors own 55.37% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on PBA. Royal Bank Of Canada raised their price objective on shares of Pembina Pipeline from $64.00 to $68.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. BMO Capital Markets reiterated a “market perform” rating on shares of Pembina Pipeline in a research report on Friday, July 31st. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Pembina Pipeline in a research note on Friday, July 3rd. Scotiabank cut shares of Pembina Pipeline from a “sector outperform” rating to a “sector perform” rating in a report on Monday, July 20th. Finally, Wall Street Zen raised shares of Pembina Pipeline from a “sell” rating to a “hold” rating in a research note on Saturday, July 25th. Five investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $64.00.

Pembina Pipeline Price Performance

Shares of NYSE PBA opened at $48.42 on Friday. Pembina Pipeline Corp. has a fifty-two week low of $36.20 and a fifty-two week high of $51.58. The stock has a market cap of $28.16 billion, a price-to-earnings ratio of 23.74 and a beta of 0.58. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.50 and a current ratio of 0.62. The firm’s 50-day simple moving average is $48.77 and its 200 day simple moving average is $46.77.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last released its quarterly earnings results on Thursday, July 30th. The pipeline company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.46 billion. Pembina Pipeline had a net margin of 22.41% and a return on equity of 11.41%. Pembina Pipeline’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.65 EPS. As a group, research analysts anticipate that Pembina Pipeline Corp. will post 2.23 earnings per share for the current fiscal year.

Pembina Pipeline Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be given a dividend of $0.735 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $2.94 annualized dividend and a dividend yield of 6.1%. Pembina Pipeline’s payout ratio is presently 104.41%.

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.