Pembina Pipeline Corp. $PBA Shares Acquired by JARISLOWSKY FRASER Ltd

JARISLOWSKY FRASER Ltd grew its position in Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 1,894.9% in the third quarter, Holdings Channel.com reports. The fund owned 8,814,455 shares of the pipeline company’s stock after buying an additional 8,372,612 shares during the period. Pembina Pipeline makes up approximately 2.0% of JARISLOWSKY FRASER Ltd’s investment portfolio, making the stock its 16th largest position. JARISLOWSKY FRASER Ltd’s holdings in Pembina Pipeline were worth $356,468,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mather Group LLC. bought a new stake in Pembina Pipeline during the third quarter valued at $45,000. State of Wyoming acquired a new position in shares of Pembina Pipeline in the 2nd quarter valued at about $58,000. Ameritas Advisory Services LLC bought a new stake in shares of Pembina Pipeline during the 2nd quarter valued at about $66,000. First Horizon Advisors Inc. raised its stake in Pembina Pipeline by 172.2% during the second quarter. First Horizon Advisors Inc. now owns 1,832 shares of the pipeline company’s stock worth $69,000 after acquiring an additional 1,159 shares during the period. Finally, Headlands Technologies LLC acquired a new stake in Pembina Pipeline during the second quarter worth about $104,000. 55.37% of the stock is owned by institutional investors and hedge funds.

Pembina Pipeline Trading Up 1.3%

Shares of NYSE:PBA opened at $38.57 on Friday. The company has a current ratio of 0.53, a quick ratio of 0.41 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $22.41 billion, a PE ratio of 19.29 and a beta of 0.66. The firm has a fifty day moving average price of $38.17 and a 200 day moving average price of $38.03. Pembina Pipeline Corp. has a 1 year low of $34.13 and a 1 year high of $42.40.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last posted its quarterly earnings data on Thursday, November 6th. The pipeline company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.14). Pembina Pipeline had a return on equity of 11.59% and a net margin of 22.17%.The firm had revenue of $911.47 million for the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the prior year, the company posted $0.60 earnings per share. Pembina Pipeline’s quarterly revenue was down 2.9% on a year-over-year basis. Analysts expect that Pembina Pipeline Corp. will post 2.15 EPS for the current fiscal year.

Pembina Pipeline Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th were given a $0.71 dividend. The ex-dividend date was Monday, December 15th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 7.4%. Pembina Pipeline’s dividend payout ratio (DPR) is currently 101.50%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Zacks Research downgraded Pembina Pipeline from a “hold” rating to a “strong sell” rating in a research note on Wednesday, December 24th. TD Securities decreased their price target on Pembina Pipeline from $65.00 to $60.00 and set a “buy” rating for the company in a research note on Tuesday, December 16th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Pembina Pipeline in a research note on Monday. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Pembina Pipeline in a research report on Tuesday, December 16th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $60.00.

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.