Swiss Life Asset Management Ltd Increases Stock Position in Pembina Pipeline Corp. $PBA

Swiss Life Asset Management Ltd raised its stake in Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 18.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,279 shares of the pipeline company’s stock after acquiring an additional 11,618 shares during the period. Swiss Life Asset Management Ltd’s holdings in Pembina Pipeline were worth $2,967,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Pembina Pipeline during the third quarter worth about $31,000. Westside Investment Management Inc. boosted its position in shares of Pembina Pipeline by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 808 shares of the pipeline company’s stock valued at $32,000 after purchasing an additional 404 shares during the period. Physician Wealth Advisors Inc. boosted its position in shares of Pembina Pipeline by 441.2% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 920 shares of the pipeline company’s stock valued at $37,000 after purchasing an additional 750 shares during the period. Golden State Wealth Management LLC purchased a new position in Pembina Pipeline during the 3rd quarter worth approximately $40,000. Finally, Larson Financial Group LLC grew its stake in Pembina Pipeline by 32.4% during the 3rd quarter. Larson Financial Group LLC now owns 1,059 shares of the pipeline company’s stock worth $43,000 after buying an additional 259 shares during the last quarter. Hedge funds and other institutional investors own 55.37% of the company’s stock.

Analyst Ratings Changes

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

Pembina Pipeline Trading Up 0.9%

Shares of PBA stock opened at $45.05 on Monday. The business’s 50 day moving average is $42.58 and its two-hundred day moving average is $39.97. Pembina Pipeline Corp. has a twelve month low of $34.13 and a twelve month high of $45.25. The company has a market capitalization of $26.19 billion, a P/E ratio of 23.71 and a beta of 0.68. The company has a current ratio of 0.61, a quick ratio of 0.47 and a debt-to-equity ratio of 0.80.

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

Pembina Pipeline Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be given a dividend of $0.71 per share. The ex-dividend date is Monday, March 16th. This represents a $2.84 dividend on an annualized basis and a yield of 6.3%. Pembina Pipeline’s dividend payout ratio is presently 109.47%.

About Pembina Pipeline

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.