Mackenzie Financial Corp Has $532.64 Million Stock Position in Pembina Pipeline Corp. (NYSE:PBA)

Mackenzie Financial Corp decreased its holdings in shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 4.4% during the 1st quarter, HoldingsChannel.com reports. The firm owned 13,316,934 shares of the pipeline company’s stock after selling 613,913 shares during the period. Mackenzie Financial Corp’s holdings in Pembina Pipeline were worth $532,640,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Deutsche Bank AG boosted its holdings in shares of Pembina Pipeline by 3.0% during the 4th quarter. Deutsche Bank AG now owns 14,247,662 shares of the pipeline company’s stock worth $526,451,000 after buying an additional 413,373 shares during the period. TD Asset Management Inc boosted its holdings in shares of Pembina Pipeline by 2.4% during the 1st quarter. TD Asset Management Inc now owns 6,950,836 shares of the pipeline company’s stock worth $277,985,000 after buying an additional 161,114 shares during the period. Scotia Capital Inc. boosted its holdings in shares of Pembina Pipeline by 1.7% during the 4th quarter. Scotia Capital Inc. now owns 4,969,977 shares of the pipeline company’s stock worth $183,596,000 after buying an additional 85,121 shares during the period. Norges Bank bought a new stake in shares of Pembina Pipeline during the 4th quarter worth $171,860,000. Finally, Tortoise Capital Advisors L.L.C. boosted its holdings in shares of Pembina Pipeline by 1.9% during the 4th quarter. Tortoise Capital Advisors L.L.C. now owns 4,240,053 shares of the pipeline company’s stock worth $156,632,000 after buying an additional 80,062 shares during the period. Institutional investors and hedge funds own 55.37% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. National Bankshares raised shares of Pembina Pipeline from a “sector perform” rating to an “outperform” rating in a report on Thursday, June 26th. National Bank Financial raised shares of Pembina Pipeline from a “hold” rating to a “strong-buy” rating in a report on Wednesday, June 25th. Jefferies Financial Group downgraded shares of Pembina Pipeline from a “buy” rating to a “hold” rating in a report on Wednesday, July 23rd. Finally, Barclays reissued an “overweight” rating on shares of Pembina Pipeline in a report on Tuesday, June 3rd. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $56.00.

Pembina Pipeline Price Performance

Shares of Pembina Pipeline stock opened at $36.73 on Monday. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.64 and a quick ratio of 0.52. Pembina Pipeline Corp. has a fifty-two week low of $34.13 and a fifty-two week high of $43.44. The firm has a fifty day moving average price of $37.31 and a two-hundred day moving average price of $37.54. The company has a market cap of $21.34 billion, a PE ratio of 16.62 and a beta of 0.76.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last announced its quarterly earnings data on Thursday, May 8th. The pipeline company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.23. Pembina Pipeline had a net margin of 23.73% and a return on equity of 12.61%. The company had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.47 billion. During the same quarter in the prior year, the company posted $0.73 EPS. The business’s revenue was up 48.2% on a year-over-year basis. Analysts expect that Pembina Pipeline Corp. will post 2.15 EPS for the current year.

Pembina Pipeline Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were paid a $0.5109 dividend. This is a boost from Pembina Pipeline’s previous quarterly dividend of $0.48. The ex-dividend date was Monday, June 16th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 5.56%. Pembina Pipeline’s dividend payout ratio is currently 93.67%.

Pembina Pipeline Company 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.