PNC Financial Services Group Inc. Has $1 Million Position in Pembina Pipeline Corp. (NYSE:PBA)

PNC Financial Services Group Inc. boosted its holdings in shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 9.1% during the first quarter, Holdings Channel reports. The institutional investor owned 24,989 shares of the pipeline company’s stock after acquiring an additional 2,086 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Pembina Pipeline were worth $1,000,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. First Horizon Advisors Inc. boosted its stake in shares of Pembina Pipeline by 69.9% in the 1st quarter. First Horizon Advisors Inc. now owns 673 shares of the pipeline company’s stock valued at $27,000 after purchasing an additional 277 shares in the last quarter. JCIC Asset Management Inc. increased its holdings in Pembina Pipeline by 6.8% during the 1st quarter. JCIC Asset Management Inc. now owns 5,133 shares of the pipeline company’s stock valued at $205,000 after purchasing an additional 325 shares in the last quarter. Hexagon Capital Partners LLC raised its position in Pembina Pipeline by 17.0% in the 1st quarter. Hexagon Capital Partners LLC now owns 2,397 shares of the pipeline company’s stock valued at $96,000 after purchasing an additional 349 shares during the last quarter. Albert D Mason Inc. boosted its stake in Pembina Pipeline by 1.0% in the first quarter. Albert D Mason Inc. now owns 43,073 shares of the pipeline company’s stock worth $1,724,000 after purchasing an additional 426 shares in the last quarter. Finally, NewEdge Advisors LLC grew its holdings in shares of Pembina Pipeline by 4.5% during the fourth quarter. NewEdge Advisors LLC now owns 9,883 shares of the pipeline company’s stock worth $365,000 after purchasing an additional 430 shares during the last quarter. Institutional investors and hedge funds own 55.37% of the company’s stock.

Pembina Pipeline Stock Performance

Pembina Pipeline stock opened at $35.54 on Monday. The company has a market cap of $20.65 billion, a PE ratio of 16.69 and a beta of 0.78. The company has a current ratio of 0.77, a quick ratio of 0.62 and a debt-to-equity ratio of 0.81. Pembina Pipeline Corp. has a 1 year low of $34.13 and a 1 year high of $43.44. The company’s 50-day moving average is $37.20 and its two-hundred day moving average is $37.53.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last posted its quarterly earnings results on Thursday, May 8th. The pipeline company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.23. Pembina Pipeline had a net margin of 23.24% and a return on equity of 12.27%. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.47 billion. During the same period in the previous year, the firm posted $0.73 earnings per share. Pembina Pipeline’s revenue for the quarter was up 48.2% compared to the same quarter last year. Equities analysts anticipate that Pembina Pipeline Corp. will post 2.15 earnings per share for the current year.

Pembina Pipeline Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be given a dividend of $0.71 per share. This is a boost from Pembina Pipeline’s previous quarterly dividend of $0.51. This represents a $2.84 annualized dividend and a dividend yield of 8.0%. Pembina Pipeline’s payout ratio is presently 93.67%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Jefferies Financial Group cut Pembina Pipeline from a “buy” rating to a “hold” rating in a report on Wednesday, July 23rd. National Bank Financial raised shares of Pembina Pipeline from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, June 25th. Wells Fargo & Company lowered shares of Pembina Pipeline from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 6th. Barclays reissued an “overweight” rating on shares of Pembina Pipeline in a report on Tuesday, June 3rd. Finally, Wall Street Zen downgraded Pembina Pipeline from a “hold” rating to a “sell” rating in a report on Saturday. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $56.00.

Pembina Pipeline Company Profile

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.