US Bancorp DE lifted its holdings in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 42.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,855 shares of the pipeline company’s stock after buying an additional 552 shares during the period. US Bancorp DE’s holdings in Pembina Pipeline were worth $59,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of PBA. DekaBank Deutsche Girozentrale raised its holdings in shares of Pembina Pipeline by 1.6% during the second quarter. DekaBank Deutsche Girozentrale now owns 2,295,459 shares of the pipeline company’s stock worth $72,579,000 after acquiring an additional 37,140 shares in the last quarter. Mn Services Vermogensbeheer B.V. purchased a new stake in shares of Pembina Pipeline during the second quarter worth $10,817,000. Heronetta Management L.P. raised its holdings in shares of Pembina Pipeline by 6.6% during the second quarter. Heronetta Management L.P. now owns 161,000 shares of the pipeline company’s stock worth $6,342,000 after acquiring an additional 10,000 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Pembina Pipeline by 4.7% during the second quarter. Russell Investments Group Ltd. now owns 2,645,360 shares of the pipeline company’s stock worth $84,147,000 after acquiring an additional 119,822 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. raised its holdings in shares of Pembina Pipeline by 22.4% during the second quarter. Oppenheimer Asset Management Inc. now owns 18,581 shares of the pipeline company’s stock worth $590,000 after acquiring an additional 3,404 shares in the last quarter. 52.53% of the stock is owned by institutional investors and hedge funds.
Several analysts recently issued reports on the company. TD Securities initiated coverage on Pembina Pipeline in a report on Tuesday, September 7th. They set a “buy” rating and a $43.00 price objective for the company. Credit Suisse Group initiated coverage on Pembina Pipeline in a report on Wednesday, August 18th. They set a “neutral” rating on the stock. Royal Bank of Canada raised their target price on Pembina Pipeline from C$42.00 to C$48.00 and gave the company an “outperform” rating in a report on Monday, August 9th. BMO Capital Markets initiated coverage on Pembina Pipeline in a report on Wednesday, July 28th. They set a “market perform” rating on the stock. Finally, Scotiabank raised their target price on Pembina Pipeline from C$39.00 to C$42.00 and gave the company a “sector perform” rating in a report on Thursday, September 9th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $40.89.
Pembina Pipeline (NYSE:PBA) (TSE:PPL) last posted its quarterly earnings data on Thursday, August 5th. The pipeline company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.16). Pembina Pipeline had a positive return on equity of 9.58% and a negative net margin of 4.83%. The business had revenue of $1.59 billion during the quarter. Research analysts forecast that Pembina Pipeline Co. will post 1.87 earnings per share for the current year.
The company also recently announced a monthly dividend, which will be paid on Friday, October 15th. Investors of record on Friday, September 24th will be given a dividend of $0.166 per share. This represents a $1.99 dividend on an annualized basis and a yield of 6.47%. The ex-dividend date is Thursday, September 23rd. Pembina Pipeline’s dividend payout ratio (DPR) is presently 136.73%.
Pembina Pipeline Profile
Pembina Pipeline Corp. engages in the provision of transportation and midstream services. It operates through the following segments: Pipelines, Facilities, Marketing and New Ventures, and Corporate. The Pipelines segment includes conventional, oil sands and transmission pipeline systems, crude oil storage and terminalling business and related infrastructure.
Recommended Story: After-Hours Trading
Receive News & Ratings for Pembina Pipeline Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pembina Pipeline and related companies with MarketBeat.com's FREE daily email newsletter.