Pembina Pipeline Corp. $PBA Shares Purchased by Swiss National Bank

Swiss National Bank lifted its position in shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 27.0% in the first quarter, HoldingsChannel reports. The institutional investor owned 1,955,896 shares of the pipeline company’s stock after purchasing an additional 416,100 shares during the period. Swiss National Bank’s holdings in Pembina Pipeline were worth $87,423,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Tobam acquired a new stake in Pembina Pipeline during the 4th quarter worth approximately $28,000. Caitong International Asset Management Co. Ltd purchased a new stake in Pembina Pipeline during the third quarter worth approximately $31,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of Pembina Pipeline in the 4th quarter valued at $36,000. Larson Financial Group LLC raised its stake in shares of Pembina Pipeline by 32.4% in the 3rd quarter. Larson Financial Group LLC now owns 1,059 shares of the pipeline company’s stock valued at $43,000 after acquiring an additional 259 shares during the period. Finally, IFP Advisors Inc lifted its holdings in shares of Pembina Pipeline by 74.8% during the 4th quarter. IFP Advisors Inc now owns 1,199 shares of the pipeline company’s stock valued at $46,000 after acquiring an additional 513 shares in the last quarter. 55.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on PBA. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Pembina Pipeline in a report on Friday, July 3rd. Scotiabank downgraded shares of Pembina Pipeline from an “outperform” rating to a “sector perform” rating in a research note on Monday. TD Securities reissued a “buy” rating on shares of Pembina Pipeline in a report on Thursday. Barclays restated an “overweight” rating on shares of Pembina Pipeline in a research note on Thursday, May 21st. Finally, BMO Capital Markets reaffirmed a “market perform” rating and set a $68.00 price target on shares of Pembina Pipeline in a research report on Friday, July 3rd. Six research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Pembina Pipeline presently has an average rating of “Hold” and an average price target of $64.00.

Pembina Pipeline Trading Down 1.1%

Pembina Pipeline stock opened at $50.73 on Tuesday. Pembina Pipeline Corp. has a 12-month low of $35.45 and a 12-month high of $51.56. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.83 and a quick ratio of 0.68. The stock has a market capitalization of $29.50 billion, a PE ratio of 26.42 and a beta of 0.57. The firm has a 50 day simple moving average of $48.08 and a 200-day simple moving average of $44.68.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last posted its quarterly earnings results on Thursday, May 7th. The pipeline company reported $0.59 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter in the prior year, the company earned $0.80 earnings per share. The firm’s revenue was down 7.7% on a year-over-year basis. As a group, equities research analysts expect that Pembina Pipeline Corp. will post 2.23 EPS for the current fiscal year.

Pembina Pipeline Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were paid a $0.735 dividend. This represents a $2.94 annualized dividend and a dividend yield of 5.8%. The ex-dividend date of this dividend was Monday, June 15th. This is a boost from Pembina Pipeline’s previous quarterly dividend of $0.71. Pembina Pipeline’s dividend payout ratio (DPR) is presently 110.94%.

About Pembina Pipeline

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.