Korea Investment CORP raised its stake in Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 199.3% during the second quarter, according to its most recent filing with the SEC. The fund owned 124,081 shares of the pipeline company’s stock after buying an additional 82,621 shares during the period. Korea Investment CORP’s holdings in Pembina Pipeline Corp. were worth $4,104,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of PBA. HighTower Advisors LLC boosted its stake in Pembina Pipeline Corp. by 1.2% in the first quarter. HighTower Advisors LLC now owns 7,730 shares of the pipeline company’s stock worth $245,000 after buying an additional 93 shares during the last quarter. Girard Partners LTD. boosted its stake in Pembina Pipeline Corp. by 0.8% in the first quarter. Girard Partners LTD. now owns 11,401 shares of the pipeline company’s stock worth $362,000 after buying an additional 95 shares during the last quarter. Sei Investments Co. boosted its stake in Pembina Pipeline Corp. by 0.5% in the second quarter. Sei Investments Co. now owns 24,708 shares of the pipeline company’s stock worth $818,000 after buying an additional 125 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in Pembina Pipeline Corp. by 1.7% in the first quarter. Janney Montgomery Scott LLC now owns 7,578 shares of the pipeline company’s stock worth $240,000 after buying an additional 128 shares during the last quarter. Finally, Cornerstone Wealth Management LLC boosted its stake in Pembina Pipeline Corp. by 2.4% in the first quarter. Cornerstone Wealth Management LLC now owns 7,129 shares of the pipeline company’s stock worth $228,000 after buying an additional 164 shares during the last quarter. Hedge funds and other institutional investors own 46.73% of the company’s stock.

Shares of Pembina Pipeline Corp. (NYSE:PBA) opened at 32.02 on Friday. Pembina Pipeline Corp. has a 1-year low of $27.44 and a 1-year high of $34.97. The firm’s 50-day moving average is $33.51 and its 200-day moving average is $32.46. The company has a market cap of $12.90 billion, a PE ratio of 31.39 and a beta of 0.71.

Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) last announced its earnings results on Tuesday, August 1st. The pipeline company reported $0.19 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by $0.08. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.36 billion. Pembina Pipeline Corp. had a return on equity of 8.59% and a net margin of 12.12%. The company’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.25 earnings per share. On average, equities analysts forecast that Pembina Pipeline Corp. will post $1.36 earnings per share for the current fiscal year.

The firm also recently announced a aug 17 dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, August 25th will be paid a dividend of $0.17 per share. This represents a dividend yield of 4.85%. The ex-dividend date is Wednesday, August 23rd. Pembina Pipeline Corp.’s payout ratio is 161.86%.

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PBA has been the topic of a number of recent analyst reports. Zacks Investment Research cut shares of Pembina Pipeline Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, May 2nd. National Bank Financial upgraded shares of Pembina Pipeline Corp. from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, May 2nd. AltaCorp Capital restated an “outperform” rating on shares of Pembina Pipeline Corp. in a research note on Wednesday, May 3rd. Finally, BidaskClub upgraded shares of Pembina Pipeline Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, June 27th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $43.00.

About Pembina Pipeline Corp.

Pembina Pipeline Corporation is an energy transportation and service provider. The Company operates through four segments. The Conventional Pipelines segment consists of the tariff-based operations of pipelines and related facilities to deliver crude oil, condensate and natural gas liquids (NGL) in Alberta, British Columbia, Saskatchewan, and North Dakota, United States.

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Institutional Ownership by Quarter for Pembina Pipeline Corp. (NYSE:PBA)

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