Jennison Associates LLC Purchases 150,550 Shares of Pembina Pipeline Co. (NYSE:PBA)

Jennison Associates LLC increased its holdings in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 31.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 629,049 shares of the pipeline company’s stock after acquiring an additional 150,550 shares during the period. Jennison Associates LLC owned about 0.11% of Pembina Pipeline worth $21,653,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of PBA. Duality Advisers LP bought a new position in Pembina Pipeline during the fourth quarter worth about $441,000. Signaturefd LLC boosted its holdings in Pembina Pipeline by 50.6% in the 4th quarter. Signaturefd LLC now owns 10,972 shares of the pipeline company’s stock worth $378,000 after buying an additional 3,688 shares during the period. Federated Hermes Inc. grew its stake in Pembina Pipeline by 22.8% in the 4th quarter. Federated Hermes Inc. now owns 297,423 shares of the pipeline company’s stock valued at $10,237,000 after buying an additional 55,136 shares in the last quarter. Mackenzie Financial Corp raised its holdings in Pembina Pipeline by 5.7% during the 4th quarter. Mackenzie Financial Corp now owns 12,652,115 shares of the pipeline company’s stock valued at $435,812,000 after acquiring an additional 680,945 shares during the period. Finally, Beverly Hills Private Wealth LLC purchased a new stake in shares of Pembina Pipeline during the fourth quarter worth $221,000. 55.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. TheStreet upgraded Pembina Pipeline from a “c” rating to a “b-” rating in a research report on Thursday, February 29th. StockNews.com upgraded shares of Pembina Pipeline from a “hold” rating to a “buy” rating in a research report on Friday, April 12th. Finally, CIBC lifted their target price on shares of Pembina Pipeline from $56.00 to $57.00 and gave the company an “outperformer” rating in a research report on Friday, April 19th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Pembina Pipeline has a consensus rating of “Moderate Buy” and a consensus target price of $52.00.

Pembina Pipeline Price Performance

Shares of Pembina Pipeline stock opened at $35.71 on Friday. The firm has a market capitalization of $20.69 billion, a PE ratio of 16.16, a price-to-earnings-growth ratio of 5.29 and a beta of 1.20. The company has a current ratio of 0.82, a quick ratio of 0.71 and a debt-to-equity ratio of 0.72. Pembina Pipeline Co. has a 12 month low of $28.15 and a 12 month high of $36.17. The business’s 50-day moving average price is $35.00 and its 200-day moving average price is $33.69.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last issued its earnings results on Thursday, February 22nd. The pipeline company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.34. The business had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.83 billion. Pembina Pipeline had a return on equity of 13.11% and a net margin of 19.43%. Sell-side analysts forecast that Pembina Pipeline Co. will post 2.24 EPS for the current fiscal year.

Pembina Pipeline Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were issued a dividend of $0.4944 per share. The ex-dividend date was Thursday, March 14th. This represents a $1.98 annualized dividend and a dividend yield of 5.54%. This is a positive change from Pembina Pipeline’s previous quarterly dividend of $0.48. Pembina Pipeline’s dividend payout ratio (DPR) is currently 89.14%.

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.