Norges Bank Takes $229.61 Million Position in Pembina Pipeline Corp. $PBA

Norges Bank acquired a new position in shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) during the 2nd quarter, Holdings Channel.com reports. The firm acquired 6,111,385 shares of the pipeline company’s stock, valued at approximately $229,613,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Pembina Pipeline by 3.2% during the second quarter. Vanguard Group Inc. now owns 26,114,982 shares of the pipeline company’s stock valued at $980,539,000 after purchasing an additional 818,526 shares during the last quarter. TD Asset Management Inc boosted its holdings in shares of Pembina Pipeline by 5.0% in the 2nd quarter. TD Asset Management Inc now owns 7,298,690 shares of the pipeline company’s stock valued at $273,494,000 after buying an additional 347,854 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Pembina Pipeline by 78.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 7,088,945 shares of the pipeline company’s stock valued at $283,770,000 after buying an additional 3,108,920 shares during the last quarter. Scotia Capital Inc. grew its position in shares of Pembina Pipeline by 9.1% during the 2nd quarter. Scotia Capital Inc. now owns 5,707,714 shares of the pipeline company’s stock valued at $214,245,000 after buying an additional 476,933 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in Pembina Pipeline by 19.9% during the second quarter. Geode Capital Management LLC now owns 4,846,067 shares of the pipeline company’s stock worth $185,024,000 after acquiring an additional 805,488 shares during the period. Institutional investors and hedge funds own 55.37% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the company. BMO Capital Markets restated an “outperform” rating on shares of Pembina Pipeline in a research note on Monday, August 11th. Wells Fargo & Company downgraded Pembina Pipeline from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 6th. Weiss Ratings restated a “hold (c)” rating on shares of Pembina Pipeline in a research note on Tuesday, November 25th. Raymond James Financial reaffirmed an “outperform” rating on shares of Pembina Pipeline in a research report on Monday, August 11th. Finally, Wall Street Zen downgraded shares of Pembina Pipeline from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy”.

Pembina Pipeline Stock Down 0.1%

PBA opened at $38.96 on Tuesday. Pembina Pipeline Corp. has a 12 month low of $34.13 and a 12 month high of $42.40. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.77 and a quick ratio of 0.62. The stock has a market cap of $22.64 billion, a P/E ratio of 18.29 and a beta of 0.75. The stock’s 50 day moving average price is $38.75 and its 200 day moving average price is $37.93.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last announced its quarterly earnings results on Thursday, November 6th. The pipeline company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.14). The business had revenue of $911.47 million for the quarter, compared to analyst estimates of $1.42 billion. Pembina Pipeline had a return on equity of 12.27% and a net margin of 23.24%.The company’s revenue was down 2.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.60 EPS. As a group, research analysts predict that Pembina Pipeline Corp. will post 2.15 earnings per share for the current year.

Pembina Pipeline Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 7.3%. The ex-dividend date is Monday, December 15th. Pembina Pipeline’s dividend payout ratio is currently 101.00%.

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.