TD Asset Management Inc Has $239.93 Million Stock Position in Pembina Pipeline Corp. $PBA

TD Asset Management Inc decreased its stake in Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 17.0% in the fourth quarter, HoldingsChannel reports. The firm owned 6,289,540 shares of the pipeline company’s stock after selling 1,292,663 shares during the period. TD Asset Management Inc’s holdings in Pembina Pipeline were worth $239,927,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in Pembina Pipeline by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 27,233,442 shares of the pipeline company’s stock worth $1,037,512,000 after acquiring an additional 541,615 shares in the last quarter. CIBC Asset Management Inc lifted its stake in Pembina Pipeline by 17.8% in the 4th quarter. CIBC Asset Management Inc now owns 8,620,307 shares of the pipeline company’s stock worth $329,245,000 after acquiring an additional 1,304,227 shares in the last quarter. Scotia Capital Inc. lifted its stake in Pembina Pipeline by 12.6% in the 3rd quarter. Scotia Capital Inc. now owns 6,425,487 shares of the pipeline company’s stock worth $258,724,000 after acquiring an additional 717,773 shares in the last quarter. Geode Capital Management LLC lifted its stake in Pembina Pipeline by 7.1% in the 4th quarter. Geode Capital Management LLC now owns 5,781,068 shares of the pipeline company’s stock worth $224,837,000 after acquiring an additional 385,201 shares in the last quarter. Finally, Norges Bank purchased a new stake in Pembina Pipeline in the 4th quarter worth about $213,701,000. 55.37% of the stock is owned by hedge funds and other institutional investors.

Pembina Pipeline Stock Down 0.3%

PBA opened at $48.62 on Thursday. The business has a 50-day moving average of $45.78 and a 200-day moving average of $42.45. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.83 and a quick ratio of 0.68. Pembina Pipeline Corp. has a fifty-two week low of $35.45 and a fifty-two week high of $50.10. The company has a market capitalization of $28.27 billion, a PE ratio of 25.32 and a beta of 0.57.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last posted its earnings results on Thursday, May 7th. The pipeline company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.07. Pembina Pipeline had a return on equity of 11.47% and a net margin of 22.22%.The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same period in the previous year, the company earned $0.80 EPS. The company’s revenue for the quarter was down 7.7% on a year-over-year basis. Equities research analysts forecast that Pembina Pipeline Corp. will post 2.28 EPS for the current fiscal year.

Pembina Pipeline Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be issued a $0.735 dividend. This is an increase from Pembina Pipeline’s previous quarterly dividend of $0.71. The ex-dividend date is Monday, June 15th. This represents a $2.94 annualized dividend and a yield of 6.0%. Pembina Pipeline’s dividend payout ratio is presently 108.33%.

Analyst Ratings Changes

Several brokerages recently issued reports on PBA. JPMorgan Chase & Co. increased their price objective on Pembina Pipeline from $55.00 to $60.00 and gave the stock a “neutral” rating in a research note on Thursday, March 19th. Barclays reissued an “overweight” rating on shares of Pembina Pipeline in a research note on Thursday, May 21st. Royal Bank Of Canada increased their price objective on Pembina Pipeline from $64.00 to $68.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. BMO Capital Markets reissued a “market perform” rating on shares of Pembina Pipeline in a research note on Tuesday, May 26th. Finally, Wall Street Zen raised Pembina Pipeline from a “sell” rating to a “hold” rating in a research note on Sunday, May 10th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $62.67.

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.