Louisbourg Investments Inc. Boosts Holdings in Pembina Pipeline Co. (NYSE:PBA)

Louisbourg Investments Inc. grew its stake in shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 1,113.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 100,655 shares of the pipeline company’s stock after purchasing an additional 92,361 shares during the period. Louisbourg Investments Inc.’s holdings in Pembina Pipeline were worth $4,030,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Empowered Funds LLC raised its holdings in Pembina Pipeline by 39.3% in the fourth quarter. Empowered Funds LLC now owns 17,186 shares of the pipeline company’s stock worth $635,000 after purchasing an additional 4,852 shares in the last quarter. Van ECK Associates Corp grew its position in shares of Pembina Pipeline by 8.0% in the 4th quarter. Van ECK Associates Corp now owns 225,684 shares of the pipeline company’s stock worth $8,335,000 after buying an additional 16,762 shares during the period. Principal Securities Inc. increased its stake in shares of Pembina Pipeline by 2,597.1% in the 4th quarter. Principal Securities Inc. now owns 917 shares of the pipeline company’s stock worth $34,000 after acquiring an additional 883 shares in the last quarter. Allworth Financial LP lifted its position in Pembina Pipeline by 84.5% during the 4th quarter. Allworth Financial LP now owns 3,175 shares of the pipeline company’s stock valued at $118,000 after acquiring an additional 1,454 shares during the period. Finally, Catalyst Capital Advisors LLC lifted its position in Pembina Pipeline by 8.0% during the 4th quarter. Catalyst Capital Advisors LLC now owns 377,260 shares of the pipeline company’s stock valued at $13,940,000 after acquiring an additional 27,866 shares during the period. Hedge funds and other institutional investors own 55.37% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on PBA. Citigroup upgraded shares of Pembina Pipeline from a “neutral” rating to a “buy” rating in a report on Monday, March 10th. Barclays restated an “overweight” rating on shares of Pembina Pipeline in a research note on Tuesday, June 3rd. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $56.00.

Pembina Pipeline Price Performance

PBA opened at $37.62 on Tuesday. The firm has a market cap of $21.85 billion, a PE ratio of 15.55 and a beta of 0.76. The stock has a 50-day moving average price of $37.71 and a 200-day moving average price of $37.66. Pembina Pipeline Co. has a 1 year low of $34.13 and a 1 year high of $43.44. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.65 and a quick ratio of 0.51.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last released its quarterly earnings data on Thursday, May 8th. The pipeline company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.23. Pembina Pipeline had a net margin of 25.39% and a return on equity of 13.62%. The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.47 billion. During the same period last year, the business earned $0.73 EPS. Pembina Pipeline’s revenue was up 48.2% compared to the same quarter last year. Sell-side analysts predict that Pembina Pipeline Co. will post 2.15 earnings per share for the current fiscal year.

Pembina Pipeline Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be issued a $0.5109 dividend. This is a positive change from Pembina Pipeline’s previous quarterly dividend of $0.48. This represents a $2.04 dividend on an annualized basis and a yield of 5.43%. The ex-dividend date is Monday, June 16th. Pembina Pipeline’s payout ratio is presently 93.21%.

Pembina Pipeline Profile

Pembina Pipeline Corporation provides energy transportation and midstream services. It operates through three segments: Pipelines, Facilities, and Marketing & New Ventures. The Pipelines segment operates conventional, oil sands and heavy oil, and transmission assets with a transportation capacity of 2.9 millions of barrels of oil equivalent per day, the ground storage capacity of 10 millions of barrels, and rail terminalling capacity of approximately 105 thousands of barrels of oil equivalent per day serving markets and basins across North America.