K.J. Harrison & Partners Inc Buys 120,000 Shares of Pembina Pipeline Corp. $PBA

K.J. Harrison & Partners Inc increased its stake in Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 278.7% in the 3rd quarter, Holdings Channel reports. The fund owned 163,060 shares of the pipeline company’s stock after buying an additional 120,000 shares during the quarter. K.J. Harrison & Partners Inc’s holdings in Pembina Pipeline were worth $6,473,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Pembina Pipeline by 2.2% during the third quarter. Vanguard Group Inc. now owns 26,691,827 shares of the pipeline company’s stock worth $1,079,231,000 after purchasing an additional 576,845 shares during the last quarter. JARISLOWSKY FRASER Ltd boosted its stake in Pembina Pipeline by 1,894.9% in the third quarter. JARISLOWSKY FRASER Ltd now owns 8,814,455 shares of the pipeline company’s stock worth $356,468,000 after buying an additional 8,372,612 shares in the last quarter. TD Asset Management Inc grew its position in Pembina Pipeline by 3.9% during the third quarter. TD Asset Management Inc now owns 7,582,203 shares of the pipeline company’s stock valued at $306,634,000 after acquiring an additional 283,513 shares during the last quarter. CIBC Asset Management Inc raised its stake in shares of Pembina Pipeline by 47.4% during the second quarter. CIBC Asset Management Inc now owns 7,547,536 shares of the pipeline company’s stock worth $283,823,000 after acquiring an additional 2,427,939 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Pembina Pipeline during the second quarter worth approximately $229,613,000. Hedge funds and other institutional investors own 55.37% of the company’s stock.

Pembina Pipeline Trading Down 0.2%

NYSE:PBA opened at $44.15 on Thursday. The company has a fifty day moving average of $40.22 and a 200 day moving average of $39.09. Pembina Pipeline Corp. has a 52 week low of $34.13 and a 52 week high of $44.60. The company has a quick ratio of 0.41, a current ratio of 0.53 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $25.66 billion, a P/E ratio of 22.08 and a beta of 0.68.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PBA. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Pembina Pipeline in a research note on Monday, December 29th. BMO Capital Markets reissued an “outperform” rating on shares of Pembina Pipeline in a research note on Tuesday, December 16th. TD Securities cut Pembina Pipeline from a “buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Finally, Zacks Research upgraded Pembina Pipeline from a “strong sell” rating to a “hold” rating in a report on Friday, January 23rd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $60.00.

Pembina Pipeline Company 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.