Jennison Associates LLC Has $78.49 Million Position in Pembina Pipeline Corp (NYSE:PBA)

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Jennison Associates LLC raised its holdings in Pembina Pipeline Corp (NYSE:PBA) (TSE:PPL) by 0.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,109,408 shares of the pipeline company’s stock after buying an additional 11,662 shares during the period. Jennison Associates LLC owned 0.41% of Pembina Pipeline worth $78,491,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Beach Investment Counsel Inc. PA increased its stake in Pembina Pipeline by 14.7% in the 2nd quarter. Beach Investment Counsel Inc. PA now owns 17,130 shares of the pipeline company’s stock valued at $637,000 after buying an additional 2,200 shares during the last quarter. TD Asset Management Inc. increased its stake in shares of Pembina Pipeline by 15.9% during the 2nd quarter. TD Asset Management Inc. now owns 7,704,425 shares of the pipeline company’s stock worth $287,422,000 after purchasing an additional 1,058,770 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Pembina Pipeline by 72.3% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 1,104,023 shares of the pipeline company’s stock worth $40,584,000 after purchasing an additional 463,431 shares during the last quarter. Gradient Investments LLC increased its stake in shares of Pembina Pipeline by 37.2% during the 2nd quarter. Gradient Investments LLC now owns 1,229 shares of the pipeline company’s stock worth $46,000 after purchasing an additional 333 shares during the last quarter. Finally, Kayne Anderson Capital Advisors LP increased its stake in shares of Pembina Pipeline by 4.6% during the 2nd quarter. Kayne Anderson Capital Advisors LP now owns 4,386,330 shares of the pipeline company’s stock worth $163,204,000 after purchasing an additional 193,700 shares during the last quarter. Hedge funds and other institutional investors own 50.90% of the company’s stock.

Separately, Zacks Investment Research upgraded shares of Pembina Pipeline from a “hold” rating to a “buy” rating and set a $41.00 price objective on the stock in a research note on Tuesday, August 20th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Pembina Pipeline has a consensus rating of “Buy” and a consensus price target of $41.00.

Shares of Pembina Pipeline stock traded down $0.77 during trading on Friday, hitting $35.74. 554,194 shares of the stock were exchanged, compared to its average volume of 569,390. The stock has a market capitalization of $18.66 billion, a price-to-earnings ratio of 20.19, a price-to-earnings-growth ratio of 3.58 and a beta of 0.80. The company has a fifty day moving average price of $37.24 and a 200-day moving average price of $36.71. Pembina Pipeline Corp has a 1-year low of $28.30 and a 1-year high of $38.56. The company has a current ratio of 0.68, a quick ratio of 0.62 and a debt-to-equity ratio of 0.64.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last released its quarterly earnings data on Thursday, August 1st. The pipeline company reported $1.23 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.81. The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.68 billion. Pembina Pipeline had a net margin of 22.20% and a return on equity of 13.92%. Pembina Pipeline’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.43 EPS. Equities research analysts forecast that Pembina Pipeline Corp will post 2.02 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 23rd will be paid a $0.20 dividend. The ex-dividend date is Thursday, August 22nd. This represents a $0.80 dividend on an annualized basis and a yield of 2.24%. Pembina Pipeline’s dividend payout ratio (DPR) is currently 102.82%.

Pembina Pipeline Profile

Pembina Pipeline Corporation provides transportation and midstream services for the energy industry in North America. It operates through three divisions: Pipelines, Facilities, and Marketing & New Ventures. The Pipelines division operates conventional, transmission, and oil sands and heavy oil pipeline assets with a total capacity of 3 million barrels of oil serving markets and basins across North America through conventional, transmission, and oil sand pipelines assets.

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Institutional Ownership by Quarter for Pembina Pipeline (NYSE:PBA)

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