Truist Financial Corp Buys 4,331 Shares of Pembina Pipeline Co. (NYSE:PBA)

Truist Financial Corp increased its position in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 23.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,779 shares of the pipeline company’s stock after buying an additional 4,331 shares during the period. Truist Financial Corp’s holdings in Pembina Pipeline were worth $845,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PBA. Mediolanum International Funds Ltd acquired a new stake in shares of Pembina Pipeline in the 1st quarter worth about $1,745,000. Quantbot Technologies LP raised its stake 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 worth $1,143,000 after purchasing an additional 32,045 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Pembina Pipeline by 2.4% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,284,326 shares of the pipeline company’s stock valued at $45,360,000 after purchasing an additional 29,743 shares in the last quarter. Cetera Advisors LLC boosted its position in shares of Pembina Pipeline by 248.9% during the first quarter. Cetera Advisors LLC now owns 31,948 shares of the pipeline company’s stock valued at $1,129,000 after buying an additional 22,790 shares during the last quarter. Finally, Hillsdale Investment Management Inc. grew its holdings in Pembina Pipeline by 13,721.7% during the first quarter. Hillsdale Investment Management Inc. now owns 72,702 shares of the pipeline company’s stock worth $2,567,000 after buying an additional 72,176 shares in the last quarter. 55.37% of the stock is owned by institutional investors.

Pembina Pipeline Price Performance

PBA stock opened at $42.29 on Tuesday. The firm has a 50 day simple moving average of $40.41 and a two-hundred day simple moving average of $37.96. 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 stock has a market cap of $24.52 billion, a PE ratio of 18.39, a P/E/G ratio of 5.86 and a beta of 1.25. Pembina Pipeline Co. has a one year low of $30.23 and a one year high of $42.90.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last posted its quarterly earnings results on Thursday, August 8th. The pipeline company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.54 by $0.21. The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.44 billion. Pembina Pipeline had a net margin of 23.50% and a return on equity of 13.68%. The business’s revenue was up 30.5% compared to the same quarter last year. During the same period last year, the firm posted $0.45 earnings per share. On average, analysts predict that Pembina Pipeline Co. will post 2.42 EPS for the current fiscal year.

Pembina Pipeline Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Monday, September 16th were paid a $0.50 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 4.73%. Pembina Pipeline’s payout ratio is presently 88.70%.

Analyst Ratings Changes

Several brokerages have recently commented on PBA. Citigroup increased their target price on shares of Pembina Pipeline from $53.00 to $56.00 and gave the company a “neutral” rating in a report on Wednesday, August 28th. UBS Group assumed coverage on shares of Pembina Pipeline in a research note on Wednesday, September 11th. They issued a “neutral” rating for the company. Finally, Raymond James initiated coverage on Pembina Pipeline in a research note on Friday. They issued an “outperform” rating on the stock. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $56.50.

About Pembina Pipeline

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.