Jupiter Topco LLC Makes New $1.92 Million Investment in Pembina Pipeline Corp. $PBA

Jupiter Topco LLC acquired a new position in shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 41,337 shares of the pipeline company’s stock, valued at approximately $1,920,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. J. Goldman & Co LP bought a new position in shares of Pembina Pipeline during the 2nd quarter worth $2,115,000. Canada Pension Plan Investment Board bought a new stake in shares of Pembina Pipeline in the second quarter valued at about $264,907,000. Legal & General Group Plc bought a new stake in shares of Pembina Pipeline in the second quarter valued at about $199,230,000. The Manufacturers Life Insurance Company purchased a new stake in Pembina Pipeline in the second quarter worth about $285,738,000. Finally, Group One Trading LLC purchased a new stake in Pembina Pipeline in the second quarter worth about $488,000. 55.37% of the stock is owned by institutional investors.

Pembina Pipeline Trading Up 0.1%

Shares of NYSE PBA opened at $48.64 on Friday. Pembina Pipeline Corp. has a 1-year low of $36.20 and a 1-year high of $51.58. The business has a fifty day moving average price of $48.75 and a 200 day moving average price of $46.75. The stock has a market capitalization of $28.29 billion, a P/E ratio of 23.84 and a beta of 0.58. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.62 and a quick ratio of 0.50.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last posted its earnings results on Thursday, July 30th. The pipeline company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.01). Pembina Pipeline had a net margin of 22.41% and a return on equity of 11.41%. The company had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter last year, the firm earned $0.65 EPS. Pembina Pipeline’s revenue for the quarter was up 20.1% on a year-over-year basis. Equities research analysts expect that Pembina Pipeline Corp. will post 2.23 EPS for the current fiscal year.

Pembina Pipeline Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be issued a $0.735 dividend. This represents a $2.94 dividend on an annualized basis and a dividend yield of 6.0%. The ex-dividend date is Tuesday, September 15th. Pembina Pipeline’s dividend payout ratio (DPR) is currently 104.41%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PBA. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Pembina Pipeline in a research report on Friday, July 3rd. Royal Bank Of Canada upped their price target on shares of Pembina Pipeline from $64.00 to $68.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Scotiabank downgraded shares of Pembina Pipeline from a “sector outperform” rating to a “sector perform” rating in a research note on Monday, July 20th. BMO Capital Markets reissued a “market perform” rating on shares of Pembina Pipeline in a report on Friday, July 31st. Finally, Weiss Ratings downgraded shares of Pembina Pipeline from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, August 18th. Five equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $64.00.

Pembina Pipeline Profile

Pembina Pipeline Corporation (NYSE: PBA) is a North American energy infrastructure company that develops, owns and operates midstream assets that transport, store and process hydrocarbons. Its core business focuses on the transportation of crude oil, natural gas liquids (NGLs) and condensate, along with gas processing, fractionation, storage and related marketing services. Pembina serves producers, refiners and other energy companies by providing pipeline capacity, terminal services and midstream solutions that link upstream production to downstream markets and export facilities.

The company’s asset base is concentrated in Western Canada, including major operations in Alberta and British Columbia, and it also has operations and commercial activities that extend into the United States.