Bank of New York Mellon Corp Has $19.90 Million Position in Pembina Pipeline Corp. (NYSE:PBA)

Bank of New York Mellon Corp boosted its position in Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 0.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 497,029 shares of the pipeline company’s stock after purchasing an additional 945 shares during the period. Bank of New York Mellon Corp owned 0.09% of Pembina Pipeline worth $19,896,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in PBA. First Horizon Advisors Inc. boosted its holdings in Pembina Pipeline by 69.9% during the first quarter. First Horizon Advisors Inc. now owns 673 shares of the pipeline company’s stock worth $27,000 after purchasing an additional 277 shares during the last quarter. JCIC Asset Management Inc. boosted its holdings in Pembina Pipeline by 6.8% in the 1st quarter. JCIC Asset Management Inc. now owns 5,133 shares of the pipeline company’s stock valued at $205,000 after purchasing an additional 325 shares during the period. Headlands Technologies LLC grew its position in Pembina Pipeline by 23.2% during the fourth quarter. Headlands Technologies LLC now owns 1,769 shares of the pipeline company’s stock worth $65,000 after buying an additional 333 shares in the last quarter. Albert D Mason Inc. grew its holdings in shares of Pembina Pipeline by 1.0% during the first quarter. Albert D Mason Inc. now owns 43,073 shares of the pipeline company’s stock worth $1,724,000 after purchasing an additional 426 shares in the last quarter. Finally, NewEdge Advisors LLC grew its stake in Pembina Pipeline by 4.5% in the 4th quarter. NewEdge Advisors LLC now owns 9,883 shares of the pipeline company’s stock worth $365,000 after buying an additional 430 shares in the last quarter. 55.37% of the stock is currently owned by institutional investors and hedge funds.

Pembina Pipeline Stock Performance

Shares of Pembina Pipeline stock opened at $37.24 on Friday. Pembina Pipeline Corp. has a 52 week low of $34.13 and a 52 week high of $43.44. The stock’s fifty day moving average is $37.34 and its two-hundred day moving average is $37.52. The company has a market capitalization of $21.63 billion, a PE ratio of 16.85 and a beta of 0.76. The company has a quick ratio of 0.52, a current ratio of 0.64 and a debt-to-equity ratio of 0.75.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last posted its earnings results on Thursday, May 8th. The pipeline company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.23. Pembina Pipeline had a return on equity of 12.61% and a net margin of 23.73%. The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.47 billion. During the same quarter in the prior year, the business earned $0.73 earnings per share. Pembina Pipeline’s revenue was up 48.2% on a year-over-year basis. As a group, analysts expect that Pembina Pipeline Corp. will post 2.15 earnings per share for the current year.

Pembina Pipeline Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were issued a $0.5109 dividend. This is an increase from Pembina Pipeline’s previous quarterly dividend of $0.48. This represents a $2.04 annualized dividend and a dividend yield of 5.49%. The ex-dividend date of this dividend was Monday, June 16th. Pembina Pipeline’s dividend payout ratio is 93.67%.

Wall Street Analyst Weigh In

Several research firms recently commented on PBA. Barclays reaffirmed an “overweight” rating on shares of Pembina Pipeline in a report on Tuesday, June 3rd. National Bankshares raised shares of Pembina Pipeline from a “sector perform” rating to an “outperform” rating in a research report on Thursday, June 26th. Finally, National Bank Financial raised Pembina Pipeline from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, June 25th. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $56.00.

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.