Envestnet Asset Management Inc. increased its position in Pembina Pipeline (NYSE:PBA) (TSE:PPL) by 49.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,171 shares of the pipeline company’s stock after acquiring an additional 2,045 shares during the period. Envestnet Asset Management Inc.’s holdings in Pembina Pipeline were worth $223,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in PBA. Bank of New York Mellon Corp grew its holdings in Pembina Pipeline by 1.4% during the third quarter. Bank of New York Mellon Corp now owns 424,915 shares of the pipeline company’s stock valued at $14,915,000 after purchasing an additional 5,769 shares during the period. JPMorgan Chase & Co. grew its holdings in Pembina Pipeline by 3.5% during the third quarter. JPMorgan Chase & Co. now owns 158,635 shares of the pipeline company’s stock valued at $5,636,000 after purchasing an additional 5,310 shares during the period. Neuberger Berman Group LLC grew its holdings in Pembina Pipeline by 17.1% during the third quarter. Neuberger Berman Group LLC now owns 145,109 shares of the pipeline company’s stock valued at $5,093,000 after purchasing an additional 21,170 shares during the period. Nexus Investment Management Inc. lifted its position in shares of Pembina Pipeline by 173.0% in the fourth quarter. Nexus Investment Management Inc. now owns 51,861 shares of the pipeline company’s stock valued at $1,886,000 after acquiring an additional 32,861 shares in the last quarter. Finally, Montrusco Bolton Investments Inc. lifted its position in shares of Pembina Pipeline by 0.3% in the fourth quarter. Montrusco Bolton Investments Inc. now owns 1,654,754 shares of the pipeline company’s stock valued at $60,104,000 after acquiring an additional 5,670 shares in the last quarter. 47.83% of the stock is owned by institutional investors and hedge funds.
Separately, Zacks Investment Research downgraded Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $39.00.
Shares of Pembina Pipeline stock opened at $33.72 on Thursday. Pembina Pipeline has a 52 week low of $29.28 and a 52 week high of $36.99. The stock has a market capitalization of $16,394.79, a PE ratio of 25.35 and a beta of 0.64. The company has a current ratio of 0.89, a quick ratio of 0.75 and a debt-to-equity ratio of 0.64.
Pembina Pipeline (NYSE:PBA) (TSE:PPL) last announced its quarterly earnings data on Thursday, February 22nd. The pipeline company reported $0.52 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.11. Pembina Pipeline had a return on equity of 10.07% and a net margin of 16.56%. The business had revenue of $1.35 billion for the quarter. equities research analysts anticipate that Pembina Pipeline will post 1.95 EPS for the current fiscal year.
The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, May 15th. Stockholders of record on Wednesday, April 25th will be given a $0.1397 dividend. This represents a $1.68 annualized dividend and a dividend yield of 4.97%. This is an increase from Pembina Pipeline’s previous monthly dividend of $0.14. The ex-dividend date of this dividend is Tuesday, April 24th. Pembina Pipeline’s payout ratio is presently 126.32%.
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About Pembina Pipeline
Pembina Pipeline Corporation provides transportation and midstream services for the energy industry in North America. It operates through five segments: Conventional Pipelines, Oil Sands & Heavy Oil, Gas Services, Midstream, and Veresen. The Conventional Pipelines segment operates approximately 10,000 kilometers of pipeline network that transports hydrocarbon liquids and extends across Alberta and parts of British Columbia, Saskatchewan, and North Dakota.
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