CIBC Asset Management Inc Acquires 1,304,227 Shares of Pembina Pipeline Corp. $PBA

CIBC Asset Management Inc boosted its stake in shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 17.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,620,307 shares of the pipeline company’s stock after purchasing an additional 1,304,227 shares during the quarter. CIBC Asset Management Inc owned about 1.48% of Pembina Pipeline worth $329,245,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in 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 buying an additional 541,615 shares during the last quarter. TD Asset Management Inc lifted its position in Pembina Pipeline by 3.9% during the third quarter. TD Asset Management Inc now owns 7,582,203 shares of the pipeline company’s stock worth $306,634,000 after acquiring an additional 283,513 shares during the last quarter. Scotia Capital Inc. boosted its holdings in shares of Pembina Pipeline by 12.6% during 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 during the period. Geode Capital Management LLC boosted its holdings in shares of Pembina Pipeline by 7.1% during the fourth quarter. Geode Capital Management LLC now owns 5,781,068 shares of the pipeline company’s stock worth $224,837,000 after acquiring an additional 385,201 shares during the period. Finally, Norges Bank acquired a new position in shares of Pembina Pipeline in the fourth quarter valued at approximately $213,701,000. 55.37% of the stock is owned by institutional investors.

Pembina Pipeline Stock Performance

PBA opened at $48.82 on Wednesday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.68 and a current ratio of 0.83. Pembina Pipeline Corp. has a 52-week low of $35.45 and a 52-week high of $50.10. The firm has a market cap of $28.38 billion, a P/E ratio of 25.43 and a beta of 0.57. The business’s fifty day moving average is $45.64 and its 200-day moving average is $42.30.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last posted its quarterly earnings results on Thursday, May 7th. The pipeline company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.07. The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.06 billion. Pembina Pipeline had a return on equity of 11.47% and a net margin of 22.22%.Pembina Pipeline’s revenue for the quarter was down 7.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.80 earnings per share. Sell-side analysts expect that Pembina Pipeline Corp. will post 2.28 EPS for the current fiscal year.

Pembina Pipeline Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be given a dividend of $0.735 per share. The ex-dividend date is Monday, June 15th. This represents a $2.94 annualized dividend and a dividend yield of 6.0%. This is a positive change from Pembina Pipeline’s previous quarterly dividend of $0.71. Pembina Pipeline’s dividend payout ratio (DPR) is 108.33%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on PBA shares. Wall Street Zen upgraded Pembina Pipeline from a “sell” rating to a “hold” rating in a research note on Sunday, May 10th. Barclays reiterated an “overweight” rating on shares of Pembina Pipeline in a research report on Thursday, May 21st. BMO Capital Markets reissued a “market perform” rating on shares of Pembina Pipeline in a report on Tuesday, May 26th. Weiss Ratings upgraded shares of Pembina Pipeline from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 2nd. Finally, TD Securities raised shares of Pembina Pipeline from a “hold” rating to a “buy” rating in a research report on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $62.67.

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.