Empowered Funds LLC Makes New Investment in Pembina Pipeline Corp. $PBA

Empowered Funds LLC bought a new stake in shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 27,009 shares of the pipeline company’s stock, valued at approximately $1,249,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. The Manufacturers Life Insurance Company bought a new stake in Pembina Pipeline in the second quarter valued at $285,738,000. Canada Pension Plan Investment Board acquired a new stake in shares of Pembina Pipeline in the 2nd quarter worth about $264,907,000. Deutsche Bank AG bought a new stake in Pembina Pipeline in the 2nd quarter valued at about $262,233,000. Norges Bank acquired a new position in Pembina Pipeline during the 4th quarter valued at about $213,701,000. Finally, Legal & General Group Plc acquired a new position in Pembina Pipeline during the 2nd quarter valued at about $199,230,000. 55.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have commented on PBA shares. Royal Bank Of Canada raised their price target on shares of Pembina Pipeline from $64.00 to $68.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. Barclays reissued an “overweight” rating on shares of Pembina Pipeline in a report on Thursday, May 21st. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Pembina Pipeline in a research report on Friday, July 3rd. TD Securities reissued a “buy” rating on shares of Pembina Pipeline in a research note on Thursday, July 16th. Finally, BMO Capital Markets reissued a “market perform” rating on shares of Pembina Pipeline in a report on Friday, July 31st. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Pembina Pipeline currently has a consensus rating of “Moderate Buy” and an average target price of $64.00.

Pembina Pipeline Trading Down 0.4%

Shares of NYSE PBA opened at $48.42 on Friday. The business has a 50 day simple moving average of $48.77 and a 200 day simple moving average of $46.77. Pembina Pipeline Corp. has a 52 week low of $36.20 and a 52 week high of $51.58. The stock has a market cap of $28.16 billion, a price-to-earnings ratio of 23.74 and a beta of 0.58. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.50 and a current ratio of 0.62.

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

Pembina Pipeline Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be given a dividend of $0.735 per share. This represents a $2.94 annualized dividend and a dividend yield of 6.1%. The ex-dividend date of this dividend is Tuesday, September 15th. Pembina Pipeline’s payout ratio is currently 104.41%.

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.