Harvest Portfolios Group Inc. Boosts Holdings in Pembina Pipeline Corp. $PBA

Harvest Portfolios Group Inc. boosted its position in shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 2.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 396,916 shares of the pipeline company’s stock after buying an additional 10,230 shares during the quarter. Harvest Portfolios Group Inc.’s holdings in Pembina Pipeline were worth $15,121,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Pembina Pipeline during the third quarter valued at $31,000. Westside Investment Management Inc. boosted its stake in shares of Pembina Pipeline by 100.0% during the third quarter. Westside Investment Management Inc. now owns 808 shares of the pipeline company’s stock valued at $32,000 after purchasing an additional 404 shares during the period. Physician Wealth Advisors Inc. boosted its stake in shares of Pembina Pipeline by 441.2% during the third quarter. Physician Wealth Advisors Inc. now owns 920 shares of the pipeline company’s stock valued at $37,000 after purchasing an additional 750 shares during the period. Golden State Wealth Management LLC bought a new stake in shares of Pembina Pipeline during the third quarter valued at approximately $40,000. Finally, Larson Financial Group LLC raised its stake in shares of Pembina Pipeline by 32.4% during the third quarter. Larson Financial Group LLC now owns 1,059 shares of the pipeline company’s stock valued at $43,000 after acquiring an additional 259 shares in the last quarter. 55.37% of the stock is owned by hedge funds and other institutional investors.

Pembina Pipeline Stock Performance

NYSE PBA opened at $49.59 on Wednesday. The company has a market cap of $28.83 billion, a P/E ratio of 25.83 and a beta of 0.58. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.83 and a quick ratio of 0.68. The stock has a 50-day moving average of $44.93 and a two-hundred day moving average of $41.62. Pembina Pipeline Corp. has a 1-year low of $35.45 and a 1-year high of $49.70.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last announced its quarterly earnings data on Thursday, May 7th. The pipeline company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.07. Pembina Pipeline had a return on equity of 11.47% and a net margin of 22.22%.The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the previous year, the company posted $0.80 earnings per share. The business’s revenue for the quarter was down 7.7% on a year-over-year basis. As a group, analysts anticipate that Pembina Pipeline Corp. will post 2.28 EPS for the current year.

Pembina Pipeline Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be paid a dividend of $0.735 per share. The ex-dividend date is Monday, June 15th. This is a positive change from Pembina Pipeline’s previous quarterly dividend of $0.71. This represents a $2.94 annualized dividend and a yield of 5.9%. Pembina Pipeline’s dividend payout ratio (DPR) is presently 108.33%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Weiss Ratings raised shares of Pembina Pipeline from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 2nd. JPMorgan Chase & Co. upped their price objective on shares of Pembina Pipeline from $55.00 to $60.00 and gave the stock a “neutral” rating in a research note on Thursday, March 19th. TD Securities reaffirmed a “hold” rating on shares of Pembina Pipeline in a research note on Wednesday, April 8th. Wall Street Zen raised shares of Pembina Pipeline from a “sell” rating to a “hold” rating in a research note on Sunday, May 10th. Finally, Zacks Research raised shares of Pembina Pipeline from a “strong sell” rating to a “hold” rating in a research note on Friday, January 23rd. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $62.67.

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.