Korea Investment CORP Has $12.15 Million Stake in Pembina Pipeline Corp. $PBA

Korea Investment CORP grew its holdings in shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 47.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 300,405 shares of the pipeline company’s stock after acquiring an additional 96,511 shares during the period. Korea Investment CORP owned 0.05% of Pembina Pipeline worth $12,149,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in PBA. AQR Capital Management LLC acquired a new position in Pembina Pipeline in the first quarter valued at approximately $374,000. Focus Partners Wealth bought a new stake in shares of Pembina Pipeline in the 1st quarter valued at $312,000. Bank of New York Mellon Corp increased its stake in shares of Pembina Pipeline by 6.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 527,642 shares of the pipeline company’s stock valued at $19,792,000 after acquiring an additional 30,613 shares in the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in shares of Pembina Pipeline during the 2nd quarter valued at $304,000. Finally, ProShare Advisors LLC lifted its position in shares of Pembina Pipeline by 5.6% during the 2nd quarter. ProShare Advisors LLC now owns 61,514 shares of the pipeline company’s stock valued at $2,310,000 after acquiring an additional 3,242 shares during the period. 55.37% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. TD Securities cut shares of Pembina Pipeline from a “buy” rating to a “hold” rating in a report on Tuesday, February 17th. BMO Capital Markets reiterated a “market perform” rating on shares of Pembina Pipeline in a report on Friday, February 27th. Weiss Ratings raised shares of Pembina Pipeline from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 2nd. Finally, Zacks Research upgraded Pembina Pipeline from a “strong sell” rating to a “hold” rating in a research note on Friday, January 23rd. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $60.00.

Pembina Pipeline Stock Performance

Shares of Pembina Pipeline stock opened at $44.52 on Thursday. Pembina Pipeline Corp. has a 52 week low of $34.13 and a 52 week high of $45.09. The company has a quick ratio of 0.47, a current ratio of 0.61 and a debt-to-equity ratio of 0.80. The business has a 50 day moving average price of $41.59 and a 200-day moving average price of $39.62. The company has a market cap of $25.87 billion, a PE ratio of 23.43 and a beta of 0.68.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last announced its earnings results on Thursday, February 26th. The pipeline company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.06. Pembina Pipeline had a return on equity of 11.17% and a net margin of 21.76%.The company had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter in the previous year, the firm earned $0.92 earnings per share. Pembina Pipeline’s quarterly revenue was down 10.8% on a year-over-year basis. Equities analysts anticipate that Pembina Pipeline Corp. will post 2.15 earnings per share for the current fiscal year.

Pembina Pipeline Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 6.4%. The ex-dividend date of this dividend is Monday, March 16th. Pembina Pipeline’s payout ratio is currently 106.84%.

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.