Sandy Spring Bank Purchases Shares of 2,700 Pembina Pipeline Corp (PBA)

Sandy Spring Bank purchased a new position in Pembina Pipeline Corp (NYSE:PBA) (TSE:PPL) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 2,700 shares of the pipeline company’s stock, valued at approximately $99,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Squar Milner Financial Services LLC raised its position in shares of Pembina Pipeline by 24.3% in the 1st quarter. Squar Milner Financial Services LLC now owns 1,405 shares of the pipeline company’s stock worth $51,000 after purchasing an additional 275 shares during the last quarter. Gulf International Bank UK Ltd raised its position in shares of Pembina Pipeline by 4.7% in the 1st quarter. Gulf International Bank UK Ltd now owns 9,562 shares of the pipeline company’s stock worth $351,000 after purchasing an additional 425 shares during the last quarter. Cigna Investments Inc. New raised its position in Pembina Pipeline by 7.4% in the 4th quarter. Cigna Investments Inc. New now owns 7,315 shares of the pipeline company’s stock worth $217,000 after buying an additional 506 shares during the last quarter. Parallel Advisors LLC raised its position in Pembina Pipeline by 350.0% in the 1st quarter. Parallel Advisors LLC now owns 810 shares of the pipeline company’s stock worth $29,000 after buying an additional 630 shares during the last quarter. Finally, Ingalls & Snyder LLC raised its position in Pembina Pipeline by 1.0% in the 4th quarter. Ingalls & Snyder LLC now owns 66,423 shares of the pipeline company’s stock worth $1,971,000 after buying an additional 675 shares during the last quarter. 51.88% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE:PBA opened at $35.43 on Thursday. Pembina Pipeline Corp has a fifty-two week low of $28.30 and a fifty-two week high of $37.93. The company has a quick ratio of 0.50, a current ratio of 0.60 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $18.12 billion, a price-to-earnings ratio of 20.02, a price-to-earnings-growth ratio of 3.42 and a beta of 0.88.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last issued its earnings results on Thursday, May 2nd. The pipeline company reported $0.41 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.45 by ($0.04). Pembina Pipeline had a return on equity of 10.61% and a net margin of 16.39%. The business had revenue of $1.97 billion during the quarter, compared to analysts’ expectations of $2.28 billion. During the same period last year, the firm posted $0.54 EPS. Pembina Pipeline’s quarterly revenue was up 7.1% compared to the same quarter last year. Sell-side analysts forecast that Pembina Pipeline Corp will post 1.72 earnings per share for the current year.

The firm also recently announced a monthly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 24th will be given a $0.1486 dividend. This is a positive change from Pembina Pipeline’s previous monthly dividend of $0.14. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $1.78 dividend on an annualized basis and a yield of 5.03%. Pembina Pipeline’s payout ratio is 96.61%.

A number of equities analysts have weighed in on the company. Zacks Investment Research lowered Pembina Pipeline from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. AltaCorp Capital reissued an “outperform” rating on shares of Pembina Pipeline in a research report on Wednesday, February 13th. Macquarie reissued a “buy” rating on shares of Pembina Pipeline in a research report on Tuesday, February 5th. Finally, Scotiabank reissued a “buy” rating on shares of Pembina Pipeline in a research report on Tuesday, February 5th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $40.00.

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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 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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