Pembina Pipeline Co. (NYSE:PBA) Shares Bought by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lifted its position in shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 16.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,697 shares of the pipeline company’s stock after acquiring an additional 3,399 shares during the period. Assenagon Asset Management S.A.’s holdings in Pembina Pipeline were worth $1,019,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in PBA. Godsey & Gibb Inc. acquired a new stake in shares of Pembina Pipeline during the 3rd quarter valued at approximately $25,000. Blue Trust Inc. raised its position in shares of Pembina Pipeline by 223.8% during the 3rd quarter. Blue Trust Inc. now owns 735 shares of the pipeline company’s stock valued at $30,000 after acquiring an additional 508 shares in the last quarter. CENTRAL TRUST Co raised its position in shares of Pembina Pipeline by 65.0% during the 3rd quarter. CENTRAL TRUST Co now owns 825 shares of the pipeline company’s stock valued at $34,000 after acquiring an additional 325 shares in the last quarter. Beacon Capital Management LLC acquired a new stake in shares of Pembina Pipeline during the 1st quarter valued at approximately $37,000. Finally, EverSource Wealth Advisors LLC raised its position in shares of Pembina Pipeline by 30.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,668 shares of the pipeline company’s stock valued at $65,000 after acquiring an additional 387 shares in the last quarter. 55.37% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PBA has been the subject of a number of recent research reports. UBS Group initiated coverage on Pembina Pipeline in a research note on Wednesday, September 11th. They set a “neutral” rating for the company. Raymond James initiated coverage on Pembina Pipeline in a research note on Friday, October 11th. They set an “outperform” rating for the company. Finally, Citigroup upped their price objective on Pembina Pipeline from $53.00 to $56.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 28th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Pembina Pipeline presently has a consensus rating of “Hold” and a consensus price target of $56.50.

Pembina Pipeline Price Performance

Shares of PBA opened at $41.60 on Friday. Pembina Pipeline Co. has a 12 month low of $31.06 and a 12 month high of $43.44. The company has a market cap of $24.15 billion, a P/E ratio of 17.33, a PEG ratio of 5.84 and a beta of 1.25. The stock has a fifty day moving average price of $41.51 and a 200 day moving average price of $38.64. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.68 and a quick ratio of 0.55.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last released its quarterly earnings results on Thursday, August 8th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.21. Pembina Pipeline had a return on equity of 13.68% and a net margin of 23.50%. The company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.44 billion. During the same quarter in the prior year, the business posted $0.45 earnings per share. The company’s revenue for the quarter was up 30.5% compared to the same quarter last year. On average, research analysts forecast that Pembina Pipeline Co. will post 2.38 earnings per share for the current year.

Pembina Pipeline Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Monday, September 16th were paid a $0.50 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 4.81%. Pembina Pipeline’s payout ratio is 85.00%.

About Pembina Pipeline

Pembina Pipeline Corporation provides energy transportation and midstream services. It operates through three segments: Pipelines, Facilities, and Marketing & New Ventures. The Pipelines segment operates conventional, oil sands and heavy oil, and transmission assets with a transportation capacity of 2.9 millions of barrels of oil equivalent per day, the ground storage capacity of 10 millions of barrels, and rail terminalling capacity of approximately 105 thousands of barrels of oil equivalent per day serving markets and basins across North America.