NewSquare Capital LLC Holds Position in Pembina Pipeline Corp. (PBA)
NewSquare Capital LLC continued to hold its position in shares of Pembina Pipeline Corp. (NYSE:PBA) during the second quarter, Holdings Channel reports. The firm owned 4,250 shares of the company’s stock at the end of the second quarter. NewSquare Capital LLC’s holdings in Pembina Pipeline Corp. were worth $129,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of the company. Davis Rea LTD. increased its position in shares of Pembina Pipeline Corp. by 1.1% in the second quarter. Davis Rea LTD. now owns 36,673 shares of the company’s stock valued at $1,111,000 after buying an additional 400 shares in the last quarter. Gulf International Bank UK Ltd increased its stake in Pembina Pipeline Corp. by 0.4% in the second quarter. Gulf International Bank UK Ltd now owns 119,384 shares of the company’s stock worth $3,611,000 after buying an additional 500 shares during the period. Creative Planning increased its stake in Pembina Pipeline Corp. by 1.8% in the second quarter. Creative Planning now owns 43,206 shares of the company’s stock worth $1,311,000 after buying an additional 757 shares during the period. Franklin Resources Inc. increased its stake in Pembina Pipeline Corp. by 6.9% in the first quarter. Franklin Resources Inc. now owns 17,403 shares of the company’s stock worth $471,000 after buying an additional 1,128 shares during the period. Finally, Hexavest Inc. increased its stake in Pembina Pipeline Corp. by 0.9% in the second quarter. Hexavest Inc. now owns 163,577 shares of the company’s stock worth $4,945,000 after buying an additional 1,399 shares during the period. Institutional investors and hedge funds own 46.56% of the company’s stock.
Shares of Pembina Pipeline Corp. (NYSE:PBA) traded up 0.34% during mid-day trading on Tuesday, reaching $29.77. 166,524 shares of the company’s stock traded hands. The firm has a market cap of $11.67 billion, a price-to-earnings ratio of 36.22 and a beta of 0.68. Pembina Pipeline Corp. has a 52 week low of $17.88 and a 52 week high of $32.31. The company’s 50 day moving average is $30.20 and its 200-day moving average is $29.14.
Pembina Pipeline Corp. (NYSE:PBA) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by $0.05. The company earned $1.03 billion during the quarter, compared to analyst estimates of $1.50 billion. Pembina Pipeline Corp. had a net margin of 10.63% and a return on equity of 7.13%. The business’s revenue for the quarter was down 15.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.09 EPS. Equities analysts expect that Pembina Pipeline Corp. will post $0.87 earnings per share for the current fiscal year.
The business also recently declared a sep 16 dividend, which will be paid on Saturday, October 15th. Investors of record on Sunday, September 25th will be issued a $0.16 dividend. This represents a dividend yield of 4.93%. The ex-dividend date is Wednesday, September 21st. Pembina Pipeline Corp.’s dividend payout ratio is currently 179.27%.
A number of research firms have weighed in on PBA. Zacks Investment Research downgraded Pembina Pipeline Corp. from a “hold” rating to a “sell” rating in a research report on Wednesday, June 15th. Canaccord Genuity restated a “buy” rating on shares of Pembina Pipeline Corp. in a research report on Thursday, September 8th. Credit Suisse Group AG downgraded Pembina Pipeline Corp. from an “outperform” rating to a “neutral” rating in a research report on Monday, June 20th. National Bank Financial downgraded Pembina Pipeline Corp. from an “outperform” rating to a “sector perform” rating in a research report on Monday, July 18th. Finally, RBC Capital Markets restated an “outperform” rating and issued a $45.00 target price (up from $42.00) on shares of Pembina Pipeline Corp. in a research report on Wednesday, August 10th. Three research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Pembina Pipeline Corp. currently has a consensus rating of “Buy” and a consensus target price of $41.75.
About Pembina Pipeline Corp.
Pembina Pipeline Corporation (Pembina) is a transportation and midstream service provider. The Company operates through four segments: Conventional Pipelines, Oil Sands & Heavy Oil, Gas Services and Midstream. Pembina owns and operates an integrated system of pipelines that transport various hydrocarbon liquids, including conventional and synthetic crude oil, heavy oil and oil sands products, condensate (diluent) and natural gas liquids (NGL) produced in western Canada and ethane produced in North Dakota.
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