Citadel Advisors LLC raised its stake in shares of Pembina Pipeline Corp (NYSE:PBA) (TSE:PPL) by 60.4% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,032,588 shares of the pipeline company’s stock after purchasing an additional 765,477 shares during the period. Citadel Advisors LLC owned 0.40% of Pembina Pipeline worth $75,727,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in PBA. Cetera Advisor Networks LLC bought a new position in shares of Pembina Pipeline during the 1st quarter valued at about $224,000. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Pembina Pipeline by 4.2% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 42,558 shares of the pipeline company’s stock valued at $1,565,000 after acquiring an additional 1,724 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Pembina Pipeline by 1.9% in the 1st quarter. JPMorgan Chase & Co. now owns 1,077,796 shares of the pipeline company’s stock valued at $39,620,000 after acquiring an additional 20,270 shares during the last quarter. Shell Asset Management Co. lifted its holdings in shares of Pembina Pipeline by 1.4% in the 1st quarter. Shell Asset Management Co. now owns 43,543 shares of the pipeline company’s stock valued at $1,600,000 after acquiring an additional 600 shares during the last quarter. Finally, Parametric Portfolio Associates LLC lifted its holdings in shares of Pembina Pipeline by 7.4% in the 1st quarter. Parametric Portfolio Associates LLC now owns 300,113 shares of the pipeline company’s stock valued at $11,032,000 after acquiring an additional 20,754 shares during the last quarter. 52.21% of the stock is owned by institutional investors and hedge funds.
A number of research analysts recently commented on PBA shares. ValuEngine downgraded shares of Pembina Pipeline from a “hold” rating to a “sell” rating in a report on Saturday, September 14th. Zacks Investment Research raised shares of Pembina Pipeline from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a report on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating and eight have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $41.00.
Pembina Pipeline (NYSE:PBA) (TSE:PPL) last posted its quarterly earnings data on Thursday, August 1st. The pipeline company reported $1.23 earnings per share for the quarter, topping the Zacks’ 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%. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.43 EPS. Equities research analysts predict that Pembina Pipeline Corp will post 2.15 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Wednesday, September 25th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date of this dividend is Tuesday, September 24th. Pembina Pipeline’s dividend payout ratio (DPR) is presently 102.82%.
Pembina Pipeline Company 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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