Wellington Management Group LLP raised its stake in Pembina Pipeline Co. (NYSE:PBA – Free Report) (TSE:PPL) by 2.6% in the third quarter, HoldingsChannel reports. The institutional investor owned 1,797,917 shares of the pipeline company’s stock after buying an additional 45,828 shares during the quarter. Wellington Management Group LLP’s holdings in Pembina Pipeline were worth $54,309,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Legal & General Group Plc increased its holdings in Pembina Pipeline by 3.8% in the third quarter. Legal & General Group Plc now owns 4,880,904 shares of the pipeline company’s stock valued at $147,430,000 after buying an additional 180,798 shares in the last quarter. Deutsche Bank AG increased its stake in shares of Pembina Pipeline by 1.0% during the 3rd quarter. Deutsche Bank AG now owns 13,391,140 shares of the pipeline company’s stock worth $402,538,000 after purchasing an additional 131,487 shares in the last quarter. Natixis Advisors L.P. increased its stake in shares of Pembina Pipeline by 6.4% during the 3rd quarter. Natixis Advisors L.P. now owns 20,672 shares of the pipeline company’s stock worth $621,000 after purchasing an additional 1,237 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Pembina Pipeline by 4.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,772,829 shares of the pipeline company’s stock worth $113,411,000 after purchasing an additional 147,222 shares in the last quarter. Finally, Trexquant Investment LP purchased a new position in shares of Pembina Pipeline during the 3rd quarter worth approximately $963,000. 53.86% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of research analysts have recently weighed in on PBA shares. TheStreet raised shares of Pembina Pipeline from a “c” rating to a “b-” rating in a research note on Thursday, February 29th. StockNews.com cut shares of Pembina Pipeline from a “buy” rating to a “hold” rating in a research note on Tuesday, March 12th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Pembina Pipeline has an average rating of “Moderate Buy” and a consensus target price of $50.33.
Read Our Latest Stock Analysis on Pembina Pipeline
Pembina Pipeline Stock Up 0.3 %
Shares of NYSE PBA opened at $35.01 on Wednesday. Pembina Pipeline Co. has a 1 year low of $28.15 and a 1 year high of $36.17. The firm’s 50 day moving average price is $34.42 and its 200 day moving average price is $32.81. The firm has a market cap of $19.24 billion, a P/E ratio of 15.84, a price-to-earnings-growth ratio of 5.15 and a beta of 1.20. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.71 and a current ratio of 0.82.
Pembina Pipeline (NYSE:PBA – Get Free Report) (TSE:PPL) last announced its quarterly earnings results on Thursday, February 22nd. The pipeline company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.34. Pembina Pipeline had a net margin of 19.43% and a return on equity of 13.11%. The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.83 billion. As a group, sell-side analysts anticipate that Pembina Pipeline Co. will post 2.27 earnings per share for the current year.
Pembina Pipeline Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 28th. Investors of record on Friday, March 15th will be paid a dividend of $0.4944 per share. This is an increase from Pembina Pipeline’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $1.98 annualized dividend and a yield of 5.65%. Pembina Pipeline’s payout ratio is 89.14%.
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 2.8 millions of barrels of oil equivalent per day, the ground storage capacity of 11 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.
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