Bank of New York Mellon Corp Boosts Stock Position in Pembina Pipeline Corp. $PBA

Bank of New York Mellon Corp grew its holdings in shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 6.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 527,642 shares of the pipeline company’s stock after buying an additional 30,613 shares during the quarter. Bank of New York Mellon Corp owned 0.09% of Pembina Pipeline worth $19,792,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Cetera Investment Advisers grew its position in shares of Pembina Pipeline by 6.2% during the 1st quarter. Cetera Investment Advisers now owns 48,289 shares of the pipeline company’s stock valued at $1,933,000 after buying an additional 2,834 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Pembina Pipeline by 78.1% in the first quarter. Goldman Sachs Group Inc. now owns 7,088,945 shares of the pipeline company’s stock valued at $283,770,000 after acquiring an additional 3,108,920 shares during the period. Tectonic Advisors LLC grew its holdings in shares of Pembina Pipeline by 64.6% during the second quarter. Tectonic Advisors LLC now owns 26,479 shares of the pipeline company’s stock valued at $993,000 after purchasing an additional 10,390 shares during the last quarter. Westwood Holdings Group Inc. raised its position in shares of Pembina Pipeline by 25.2% during the 1st quarter. Westwood Holdings Group Inc. now owns 1,428,833 shares of the pipeline company’s stock worth $57,196,000 after purchasing an additional 288,003 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Pembina Pipeline by 1.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,571,245 shares of the pipeline company’s stock worth $62,839,000 after purchasing an additional 25,265 shares during the last quarter. Institutional investors and hedge funds own 55.37% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the company. BMO Capital Markets restated an “outperform” rating on shares of Pembina Pipeline in a research note on Monday, August 11th. Raymond James Financial restated an “outperform” rating on shares of Pembina Pipeline in a research report on Monday, August 11th. Wall Street Zen downgraded shares of Pembina Pipeline from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Weiss Ratings reissued a “hold (c)” rating on shares of Pembina Pipeline in a research note on Thursday. Finally, Wells Fargo & Company lowered shares of Pembina Pipeline from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy”.

Pembina Pipeline Trading Up 2.5%

Pembina Pipeline stock opened at $38.72 on Monday. Pembina Pipeline Corp. has a 12-month low of $34.13 and a 12-month high of $43.44. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.77 and a quick ratio of 0.62. The stock has a market capitalization of $22.50 billion, a PE ratio of 18.18 and a beta of 0.75. The firm has a 50 day simple moving average of $38.90 and a 200-day simple moving average of $37.91.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last released its earnings results on Thursday, November 6th. The pipeline company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.14). The firm had revenue of $911.47 million during the quarter, compared to analyst estimates of $1.42 billion. Pembina Pipeline had a return on equity of 12.27% and a net margin of 23.24%.The business’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter last year, the company earned $0.60 earnings per share. As a group, equities research analysts expect that Pembina Pipeline Corp. will post 2.15 EPS for the current fiscal year.

Pembina Pipeline Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be paid a $0.71 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $2.84 annualized dividend and a dividend yield of 7.3%. Pembina Pipeline’s payout ratio is currently 101.00%.

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.