OMERS ADMINISTRATION Corp Takes $2.60 Million Position in Pembina Pipeline Corp. $PBA

OMERS ADMINISTRATION Corp purchased a new stake in Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) in the 2nd quarter, HoldingsChannel reports. The firm purchased 56,200 shares of the pipeline company’s stock, valued at approximately $2,599,000.

A number of other hedge funds have also recently added to or reduced their stakes in PBA. Western Wealth Management LLC bought a new position in Pembina Pipeline during the first quarter valued at approximately $25,000. Dunhill Financial LLC bought a new stake in Pembina Pipeline in the second quarter worth approximately $31,000. N.E.W. Advisory Services LLC bought a new stake in Pembina Pipeline in the second quarter worth approximately $31,000. Tobam acquired a new position in shares of Pembina Pipeline during the 4th quarter worth $28,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of Pembina Pipeline during the 3rd quarter worth $31,000. Institutional investors and hedge funds own 55.37% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Weiss Ratings downgraded shares of Pembina Pipeline from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, August 18th. Scotiabank cut shares of Pembina Pipeline from a “sector outperform” rating to a “sector perform” rating in a report on Monday, July 20th. Royal Bank Of Canada increased their target price on shares of Pembina Pipeline from $64.00 to $68.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. BMO Capital Markets restated a “market perform” rating on shares of Pembina Pipeline in a report on Friday, July 31st. Finally, Barclays reaffirmed an “overweight” rating on shares of Pembina Pipeline in a research report on Thursday, May 21st. Five investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $64.00.

Pembina Pipeline Trading Down 1.2%

NYSE:PBA opened at $48.14 on Wednesday. Pembina Pipeline Corp. has a 12 month low of $36.20 and a 12 month high of $51.58. The firm has a market cap of $27.99 billion, a price-to-earnings ratio of 23.60 and a beta of 0.57. The company has a quick ratio of 0.50, a current ratio of 0.62 and a debt-to-equity ratio of 0.78. The company’s 50 day moving average is $48.47 and its 200-day moving average is $46.49.

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

Pembina Pipeline Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be given a dividend of $0.735 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $2.94 dividend on an annualized basis and a yield of 6.1%. Pembina Pipeline’s payout ratio is currently 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.