Atlantic Trust Group LLC increased its stake in Pembina Pipeline Corp (NYSE:PBA) (TSE:PPL) by 173.4% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,258,931 shares of the pipeline company’s stock after purchasing an additional 798,388 shares during the quarter. Atlantic Trust Group LLC owned about 0.25% of Pembina Pipeline worth $39,317,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Millennium Management LLC purchased a new position in shares of Pembina Pipeline in the first quarter valued at $3,578,000. Verition Fund Management LLC purchased a new position in shares of Pembina Pipeline in the first quarter valued at $467,000. Amundi Pioneer Asset Management Inc. grew its position in shares of Pembina Pipeline by 1.9% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 169,123 shares of the pipeline company’s stock valued at $5,281,000 after purchasing an additional 3,082 shares in the last quarter. Cubist Systematic Strategies LLC grew its position in shares of Pembina Pipeline by 73.9% in the first quarter. Cubist Systematic Strategies LLC now owns 6,085 shares of the pipeline company’s stock valued at $190,000 after purchasing an additional 2,585 shares in the last quarter. Finally, Point72 Asset Management L.P. grew its position in shares of Pembina Pipeline by 15.8% in the first quarter. Point72 Asset Management L.P. now owns 660,000 shares of the pipeline company’s stock valued at $20,579,000 after purchasing an additional 90,000 shares in the last quarter. Institutional investors own 45.52% of the company’s stock.
Several research firms recently issued reports on PBA. ValuEngine raised Pembina Pipeline from a “sell” rating to a “hold” rating in a research note on Thursday, May 31st. Zacks Investment Research lowered Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. Pembina Pipeline presently has a consensus rating of “Hold” and an average price target of $37.00.
Pembina Pipeline (NYSE:PBA) (TSE:PPL) last posted its quarterly earnings data on Thursday, May 3rd. The pipeline company reported $0.59 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.14. The company had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.92 billion. Pembina Pipeline had a return on equity of 10.07% and a net margin of 17.53%. The firm’s quarterly revenue was up 24.1% on a year-over-year basis. During the same quarter last year, the company earned $0.49 earnings per share. equities research analysts anticipate that Pembina Pipeline Corp will post 1.95 EPS for the current year.
The firm also recently disclosed a jun 18 dividend, which will be paid on Sunday, July 15th. Investors of record on Monday, June 25th will be paid a dividend of $0.19 per share. This represents a yield of 5.08%. The ex-dividend date of this dividend is Friday, June 22nd. Pembina Pipeline’s dividend payout ratio is 133.83%.
Pembina Pipeline Profile
Pembina Pipeline Corporation provides transportation and midstream services for the energy industry in North America. It operates through three divisions: Pipelines, Facilities, and Marketing & New Ventures. The company operates approximately 10,000 kilometers of pipeline network that transports hydrocarbon liquids and extends across Alberta and parts of British Columbia, Saskatchewan, and North Dakota; and owns and operates the Nipisi and Mitsue pipelines, which provide transportation for producers operating in the Pelican Lake and Peace River heavy oil regions of Alberta; transports synthetic crude oil for the Syncrude project and the Horizon project to delivery points near Edmonton, Alberta; and operates Cheecham Lateral, which transports synthetic crude to oil sands producers operating southeast of Fort McMurray, Alberta.
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