Davis Rea LTD. Takes Position in Pembina Pipeline Corp. (NYSE:PBA)

Davis Rea LTD. purchased a new stake in shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) during the first quarter, Holdings Channel.com reports. The fund purchased 110,749 shares of the pipeline company’s stock, valued at approximately $4,432,000.

A number of other institutional investors have also recently made changes to their positions in PBA. Choreo LLC lifted its holdings in Pembina Pipeline by 6.4% during the 1st quarter. Choreo LLC now owns 7,421 shares of the pipeline company’s stock worth $297,000 after purchasing an additional 444 shares in the last quarter. Jennison Associates LLC raised its holdings in shares of Pembina Pipeline by 1.0% in the 1st quarter. Jennison Associates LLC now owns 623,425 shares of the pipeline company’s stock valued at $24,946,000 after acquiring an additional 6,433 shares in the last quarter. Montrusco Bolton Investments Inc. purchased a new stake in shares of Pembina Pipeline in the 1st quarter valued at about $16,221,000. Mayflower Financial Advisors LLC purchased a new stake in shares of Pembina Pipeline in the 1st quarter valued at about $248,000. Finally, Tectonic Advisors LLC raised its holdings in shares of Pembina Pipeline by 20.2% in the 1st quarter. Tectonic Advisors LLC now owns 16,089 shares of the pipeline company’s stock valued at $644,000 after acquiring an additional 2,701 shares in the last quarter. Hedge funds and other institutional investors own 55.37% of the company’s stock.

Wall Street Analyst Weigh In

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

Pembina Pipeline Stock Down 0.6%

NYSE:PBA traded down $0.24 during trading hours on Thursday, reaching $37.15. 74,234 shares of the company traded hands, compared to its average volume of 1,345,171. The business’s 50-day moving average price is $37.34 and its two-hundred day moving average price is $37.52. The stock has a market capitalization of $21.58 billion, a P/E ratio of 16.81 and a beta of 0.76. Pembina Pipeline Corp. has a 1 year low of $34.13 and a 1 year high of $43.44. The company has a current ratio of 0.64, a quick ratio of 0.52 and a debt-to-equity ratio of 0.75.

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. The business had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.47 billion. Pembina Pipeline had a return on equity of 12.61% and a net margin of 23.73%. The firm’s quarterly revenue was up 48.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.73 earnings per share. Analysts predict that Pembina Pipeline Corp. will post 2.15 earnings per share for the current year.

Pembina Pipeline Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were given a dividend of $0.5109 per share. This represents a $2.04 dividend on an annualized basis and a yield of 5.50%. The ex-dividend date was Monday, June 16th. This is a boost from Pembina Pipeline’s previous quarterly dividend of $0.48. Pembina Pipeline’s dividend payout ratio is 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.