CIBC Bancorp USA Inc. Invests $10.87 Million in Pembina Pipeline Corp. $PBA

CIBC Bancorp USA Inc. bought a new stake in shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) during the 3rd quarter, according to its most recent filing with the SEC. The firm bought 268,724 shares of the pipeline company’s stock, valued at approximately $10,873,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PBA. Varma Mutual Pension Insurance Co grew its holdings in Pembina Pipeline by 8.6% during the 3rd quarter. Varma Mutual Pension Insurance Co now owns 309,779 shares of the pipeline company’s stock valued at $12,528,000 after purchasing an additional 24,400 shares in the last quarter. Quantbot Technologies LP increased its stake in Pembina Pipeline by 66.3% during the 2nd quarter. Quantbot Technologies LP now owns 76,566 shares of the pipeline company’s stock worth $2,872,000 after buying an additional 30,523 shares during the period. First Trust Advisors LP lifted its holdings in Pembina Pipeline by 411.1% in the 2nd quarter. First Trust Advisors LP now owns 1,247,976 shares of the pipeline company’s stock worth $46,820,000 after buying an additional 1,003,819 shares in the last quarter. Westwood Holdings Group Inc. lifted its holdings in Pembina Pipeline by 14.1% in the 2nd quarter. Westwood Holdings Group Inc. now owns 1,629,929 shares of the pipeline company’s stock worth $61,139,000 after buying an additional 201,096 shares in the last quarter. Finally, Northwest & Ethical Investments L.P. boosted its position in Pembina Pipeline by 58.0% in the 2nd quarter. Northwest & Ethical Investments L.P. now owns 177,649 shares of the pipeline company’s stock valued at $6,667,000 after buying an additional 65,244 shares during the last quarter. 55.37% of the stock is owned by institutional investors and hedge funds.

Pembina Pipeline Stock Performance

Shares of PBA opened at $44.62 on Friday. The stock has a market capitalization of $25.94 billion, a PE ratio of 23.48 and a beta of 0.68. The business’s fifty day moving average price is $42.42 and its 200 day moving average price is $39.89. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.61 and a quick ratio of 0.47. Pembina Pipeline Corp. has a 12-month low of $34.13 and a 12-month high of $45.09.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last released its earnings results on Thursday, February 26th. The pipeline company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.06. Pembina Pipeline had a net margin of 21.76% and a return on equity of 11.17%. The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same quarter in the previous year, the firm earned $0.92 earnings per share. The firm’s revenue for the quarter was down 10.8% compared to the same quarter last year. Equities research analysts forecast that Pembina Pipeline Corp. will post 2.15 EPS for the current year.

Pembina Pipeline Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 16th will be paid a dividend of $0.71 per share. The ex-dividend date is Monday, March 16th. This represents a $2.84 annualized dividend and a yield of 6.4%. Pembina Pipeline’s dividend payout ratio is 109.47%.

Analyst Ratings Changes

Several analysts have recently weighed in on PBA shares. Zacks Research upgraded Pembina Pipeline from a “strong sell” rating to a “hold” rating in a research note on Friday, January 23rd. Weiss Ratings upgraded Pembina Pipeline from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 2nd. JPMorgan Chase & Co. increased their price target on Pembina Pipeline from $55.00 to $60.00 and gave the company a “neutral” rating in a report on Thursday. TD Securities lowered Pembina Pipeline from a “buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Finally, BMO Capital Markets restated a “market perform” rating on shares of Pembina Pipeline in a report on Friday, February 27th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $60.00.

Pembina Pipeline Profile

Pembina Pipeline Corporation (NYSE: PBA) is a North American energy infrastructure company that develops, owns and operates midstream assets that transport, store and process hydrocarbons. Its core business focuses on the transportation of crude oil, natural gas liquids (NGLs) and condensate, along with gas processing, fractionation, storage and related marketing services. Pembina serves producers, refiners and other energy companies by providing pipeline capacity, terminal services and midstream solutions that link upstream production to downstream markets and export facilities.

The company’s asset base is concentrated in Western Canada, including major operations in Alberta and British Columbia, and it also has operations and commercial activities that extend into the United States.