J. Goldman & Co LP Makes New $2.12 Million Investment in Pembina Pipeline Corp. $PBA

J. Goldman & Co LP bought a new stake in Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 45,733 shares of the pipeline company’s stock, valued at approximately $2,115,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Empowered Funds LLC increased its holdings in shares of Pembina Pipeline by 1.0% in the 4th quarter. Empowered Funds LLC now owns 24,449 shares of the pipeline company’s stock worth $931,000 after acquiring an additional 248 shares during the period. Larson Financial Group LLC grew its position in Pembina Pipeline by 32.4% in the 3rd quarter. Larson Financial Group LLC now owns 1,059 shares of the pipeline company’s stock worth $43,000 after purchasing an additional 259 shares during the last quarter. Ethic Inc. increased its stake in shares of Pembina Pipeline by 2.0% in the fourth quarter. Ethic Inc. now owns 14,150 shares of the pipeline company’s stock valued at $539,000 after purchasing an additional 278 shares during the period. Broderick Brian C raised its holdings in shares of Pembina Pipeline by 0.9% during the first quarter. Broderick Brian C now owns 32,823 shares of the pipeline company’s stock valued at $1,469,000 after buying an additional 300 shares during the last quarter. Finally, Brown Brothers Harriman & Co. raised its holdings in shares of Pembina Pipeline by 3.6% during the fourth quarter. Brown Brothers Harriman & Co. now owns 9,768 shares of the pipeline company’s stock valued at $372,000 after buying an additional 341 shares during the last quarter. Institutional investors and hedge funds own 55.37% of the company’s stock.

Wall Street Analysts Forecast Growth

PBA has been the topic of several analyst reports. TD Securities restated a “buy” rating on shares of Pembina Pipeline in a research report on Thursday, July 16th. BMO Capital Markets reissued a “market perform” rating on shares of Pembina Pipeline in a research note on Friday, July 31st. Royal Bank Of Canada raised their price target on Pembina Pipeline from $64.00 to $68.00 and gave the company an “outperform” rating in a report on Monday, May 11th. Wall Street Zen raised shares of Pembina Pipeline from a “sell” rating to a “hold” rating in a report on Saturday, July 25th. Finally, Weiss Ratings downgraded shares of Pembina Pipeline from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, August 18th. Five research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $64.00.

Pembina Pipeline Stock Performance

Shares of NYSE PBA opened at $48.14 on Wednesday. Pembina Pipeline Corp. has a 1 year low of $36.20 and a 1 year high of $51.58. The firm has a market cap of $27.99 billion, a P/E ratio of 23.60 and a beta of 0.57. The stock has a fifty day moving average price of $48.47 and a two-hundred day moving average price of $46.49. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.50 and a current ratio of 0.62.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last posted its quarterly earnings data on Thursday, July 30th. The pipeline company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). Pembina Pipeline had a return on equity of 11.41% and a net margin of 22.41%.The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the prior year, the firm posted $0.65 EPS. The firm’s quarterly revenue was up 20.1% on a year-over-year basis. Research analysts forecast that Pembina Pipeline Corp. will post 2.23 EPS for the current fiscal year.

Pembina Pipeline Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.735 per share. The ex-dividend date is Tuesday, September 15th. This represents a $2.94 annualized dividend and a dividend yield of 6.1%. Pembina Pipeline’s dividend payout ratio (DPR) is 104.41%.

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.