Pembina Pipeline Co. (NYSE:PBA) Shares Bought by AGF Management Ltd.

AGF Management Ltd. raised its stake in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 87.4% in the second quarter, HoldingsChannel reports. The institutional investor owned 34,451 shares of the pipeline company’s stock after buying an additional 16,064 shares during the quarter. AGF Management Ltd.’s holdings in Pembina Pipeline were worth $1,356,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Mediolanum International Funds Ltd purchased a new position in Pembina Pipeline in the 1st quarter valued at approximately $1,745,000. Quantbot Technologies LP increased its position in shares of Pembina Pipeline by 10,862.7% in the first quarter. Quantbot Technologies LP now owns 32,340 shares of the pipeline company’s stock valued at $1,143,000 after buying an additional 32,045 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Pembina Pipeline by 2.4% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,284,326 shares of the pipeline company’s stock worth $45,360,000 after buying an additional 29,743 shares during the last quarter. UBS Group AG boosted its position in shares of Pembina Pipeline by 24.2% in the 4th quarter. UBS Group AG now owns 378,415 shares of the pipeline company’s stock worth $13,025,000 after buying an additional 73,776 shares in the last quarter. Finally, Cetera Advisors LLC grew its stake in Pembina Pipeline by 248.9% in the 1st quarter. Cetera Advisors LLC now owns 31,948 shares of the pipeline company’s stock valued at $1,129,000 after acquiring an additional 22,790 shares during the last quarter. Hedge funds and other institutional investors own 55.37% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PBA. Scotiabank cut shares of Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a research report on Sunday, May 19th. Citigroup lifted their price objective on Pembina Pipeline from $53.00 to $56.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 28th. Finally, UBS Group started coverage on Pembina Pipeline in a report on Wednesday. They set a “neutral” rating on the stock. Four research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $56.50.

Pembina Pipeline Stock Performance

NYSE:PBA opened at $41.28 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.68 and a quick ratio of 0.55. The firm has a market cap of $23.95 billion, a PE ratio of 17.95, a P/E/G ratio of 5.65 and a beta of 1.25. The firm has a 50 day simple moving average of $38.87 and a 200-day simple moving average of $36.98. Pembina Pipeline Co. has a 1-year low of $28.15 and a 1-year high of $41.40.

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

Pembina Pipeline Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Monday, September 16th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.84%. The ex-dividend date is Monday, September 16th. Pembina Pipeline’s dividend payout ratio (DPR) is 87.83%.

Pembina Pipeline 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.