Pembina Pipeline Co. (NYSE:PBA) Shares Acquired by Van ECK Associates Corp

Van ECK Associates Corp boosted its stake in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 14.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 208,922 shares of the pipeline company’s stock after purchasing an additional 25,841 shares during the quarter. Van ECK Associates Corp’s holdings in Pembina Pipeline were worth $8,901,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of PBA. CENTRAL TRUST Co grew its stake in shares of Pembina Pipeline by 65.0% during the 3rd quarter. CENTRAL TRUST Co now owns 825 shares of the pipeline company’s stock valued at $34,000 after buying an additional 325 shares during the period. Granite Group Advisors LLC grew its position in Pembina Pipeline by 5.2% during the first quarter. Granite Group Advisors LLC now owns 6,719 shares of the pipeline company’s stock valued at $237,000 after acquiring an additional 330 shares during the period. EverSource Wealth Advisors LLC grew its position in Pembina Pipeline by 30.2% during the second quarter. EverSource Wealth Advisors LLC now owns 1,668 shares of the pipeline company’s stock valued at $65,000 after acquiring an additional 387 shares during the period. Gold Investment Management Ltd. increased its stake in Pembina Pipeline by 4.4% during the second quarter. Gold Investment Management Ltd. now owns 10,562 shares of the pipeline company’s stock worth $392,000 after acquiring an additional 444 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. raised its holdings in shares of Pembina Pipeline by 2.7% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 18,341 shares of the pipeline company’s stock worth $680,000 after purchasing an additional 478 shares during the period. Institutional investors and hedge funds own 55.37% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on PBA shares. Citigroup increased their target price on shares of Pembina Pipeline from $53.00 to $56.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 28th. UBS Group began coverage on shares of Pembina Pipeline in a research report on Wednesday, September 11th. They issued a “neutral” rating for the company. Finally, Raymond James initiated coverage on shares of Pembina Pipeline in a research note on Friday, October 11th. They issued an “outperform” rating on the stock. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $56.50.

Pembina Pipeline Stock Down 4.0 %

Shares of NYSE:PBA opened at $40.54 on Thursday. The company has a market capitalization of $23.53 billion, a price-to-earnings ratio of 16.89 and a beta of 1.25. The company has a 50 day moving average of $41.60 and a two-hundred day moving average of $38.80. Pembina Pipeline Co. has a 52-week low of $31.51 and a 52-week high of $43.44. The company has a quick ratio of 0.55, a current ratio of 0.68 and a debt-to-equity ratio of 0.77.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last released its quarterly earnings results on Thursday, August 8th. The pipeline company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.21. Pembina Pipeline had a net margin of 23.50% and a return on equity of 13.68%. The business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same period last year, the business earned $0.45 EPS. The business’s revenue was up 30.5% on a year-over-year basis. As a group, analysts forecast that Pembina Pipeline Co. will post 2.38 earnings per share for the current fiscal year.

Pembina Pipeline Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be paid a dividend of $0.69 per share. This is an increase from Pembina Pipeline’s previous quarterly dividend of $0.50. This represents a $2.76 annualized dividend and a dividend yield of 6.81%. Pembina Pipeline’s dividend payout ratio (DPR) is currently 85.00%.

Pembina Pipeline Company Profile

Pembina Pipeline Corporation provides energy transportation and midstream services. It operates through three segments: Pipelines, Facilities, and Marketing & New Ventures. The Pipelines segment operates conventional, oil sands and heavy oil, and transmission assets with a transportation capacity of 2.9 millions of barrels of oil equivalent per day, the ground storage capacity of 10 millions of barrels, and rail terminalling capacity of approximately 105 thousands of barrels of oil equivalent per day serving markets and basins across North America.