J. Goldman & Co LP Invests $2.12 Million in Pembina Pipeline Corp. $PBA

J. Goldman & Co LP bought a new position in Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 45,733 shares of the pipeline company’s stock, valued at approximately $2,115,000.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Pembina Pipeline by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 27,233,442 shares of the pipeline company’s stock valued at $1,037,512,000 after purchasing an additional 541,615 shares during the period. FIL Ltd lifted 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 valued at $532,541,000 after buying an additional 359,109 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of 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 buying an additional 94,655 shares during the period. CIBC Asset Management Inc boosted its holdings in shares of 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 worth $329,245,000 after buying an additional 1,304,227 shares during the period. Finally, Scotia Capital Inc. increased its position in shares of Pembina Pipeline by 12.6% in the third quarter. Scotia Capital Inc. now owns 6,425,487 shares of the pipeline company’s stock worth $258,724,000 after acquiring an additional 717,773 shares in the last quarter. 55.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PBA has been the subject of several research analyst reports. Wall Street Zen upgraded shares of Pembina Pipeline from a “sell” rating to a “hold” rating in a research report on Saturday, July 25th. BMO Capital Markets reissued a “market perform” rating on shares of Pembina Pipeline in a research note on Friday, July 31st. Weiss Ratings cut Pembina Pipeline from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, August 18th. Scotiabank downgraded Pembina Pipeline from a “sector outperform” rating to a “sector perform” rating in a report on Monday, July 20th. Finally, Barclays reissued an “overweight” rating on shares of Pembina Pipeline in a research report on Thursday, May 21st. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $64.00.

Pembina Pipeline Stock Down 1.2%

PBA stock opened at $48.14 on Wednesday. Pembina Pipeline Corp. has a 12-month low of $36.20 and a 12-month high of $51.58. The company has a quick ratio of 0.50, a current ratio of 0.62 and a debt-to-equity ratio of 0.78. The company has a market cap of $27.99 billion, a price-to-earnings ratio of 23.60 and a beta of 0.57. The company has a 50 day moving average of $48.47 and a two-hundred day moving average of $46.49.

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

Pembina Pipeline Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be paid a dividend of $0.735 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $2.94 dividend on an annualized basis and a dividend yield of 6.1%. Pembina Pipeline’s dividend payout ratio (DPR) is 104.41%.

Pembina Pipeline Company Profile

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.