Cornerstone Wealth Management LLC purchased a new position in Pembina Pipeline Corp (NYSE:PBA) (TSE:PPL) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund purchased 61,904 shares of the pipeline company’s stock, valued at approximately $1,825,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. SG Americas Securities LLC bought a new position in Pembina Pipeline in the 2nd quarter worth approximately $178,000. Cubist Systematic Strategies LLC increased its position in Pembina Pipeline by 73.9% in the 1st quarter. Cubist Systematic Strategies LLC now owns 6,085 shares of the pipeline company’s stock worth $190,000 after buying an additional 2,585 shares during the period. Massachusetts Financial Services Co. MA bought a new position in Pembina Pipeline in the 2nd quarter worth approximately $232,000. Natixis bought a new position in Pembina Pipeline in the 2nd quarter worth approximately $245,000. Finally, Viking Fund Management LLC increased its position in Pembina Pipeline by 21.4% in the 3rd quarter. Viking Fund Management LLC now owns 8,500 shares of the pipeline company’s stock worth $289,000 after buying an additional 1,500 shares during the period. 47.08% of the stock is currently owned by institutional investors.
PBA has been the topic of a number of research reports. ValuEngine cut Pembina Pipeline from a “hold” rating to a “sell” rating in a research report on Monday, July 2nd. Zacks Investment Research cut Pembina Pipeline from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 9th.
Pembina Pipeline (NYSE:PBA) (TSE:PPL) last released its quarterly earnings data on Thursday, August 2nd. The pipeline company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.07). The firm had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.21 billion. Pembina Pipeline had a net margin of 17.40% and a return on equity of 10.09%. As a group, research analysts predict that Pembina Pipeline Corp will post 1.72 earnings per share for the current year.
The company also recently disclosed a monthly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Thursday, October 25th will be given a dividend of $0.1472 per share. The ex-dividend date is Wednesday, October 24th. This is a boost from Pembina Pipeline’s previous monthly dividend of $0.15. This represents a $1.77 dividend on an annualized basis and a dividend yield of 5.34%. Pembina Pipeline’s payout ratio is currently 133.08%.
Pembina Pipeline Profile
Pembina Pipeline Corporation provides transportation and midstream services for the energy industry in North America. It operates through three divisions: Pipelines, Facilities, and Marketing & New Ventures. The company operates approximately 10,000 kilometers of pipeline network that transports hydrocarbon liquids and extends across Alberta and parts of British Columbia, Saskatchewan, and North Dakota; and owns and operates the Nipisi and Mitsue pipelines, which provide transportation for producers operating in the Pelican Lake and Peace River heavy oil regions of Alberta; transports synthetic crude oil for the Syncrude project and the Horizon project to delivery points near Edmonton, Alberta; and operates Cheecham Lateral, which transports synthetic crude to oil sands producers operating southeast of Fort McMurray, Alberta.
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