K.J. Harrison & Partners Inc Grows Stock Holdings in Pembina Pipeline Co. (NYSE:PBA)

K.J. Harrison & Partners Inc boosted its position in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 39.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 43,935 shares of the pipeline company’s stock after acquiring an additional 12,335 shares during the period. K.J. Harrison & Partners Inc’s holdings in Pembina Pipeline were worth $1,515,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. 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 worth $10,237,000 after acquiring an additional 55,136 shares during the period. Triasima Portfolio Management inc. purchased a new stake in Pembina Pipeline in the 4th quarter worth approximately $17,285,000. Legal & General Group Plc grew its stake in Pembina Pipeline by 3.8% in the 3rd quarter. Legal & General Group Plc now owns 4,880,904 shares of the pipeline company’s stock worth $147,430,000 after acquiring an additional 180,798 shares during the period. Baskin Financial Services Inc. grew its stake in Pembina Pipeline by 5.0% in the 4th quarter. Baskin Financial Services Inc. now owns 196,108 shares of the pipeline company’s stock worth $6,749,000 after acquiring an additional 9,306 shares during the period. Finally, Vanguard Group Inc. grew its stake in Pembina Pipeline by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 21,222,536 shares of the pipeline company’s stock worth $637,949,000 after acquiring an additional 351,266 shares during the period. 55.37% of the stock is owned by hedge funds and other institutional investors.

Pembina Pipeline Stock Up 0.3 %

Pembina Pipeline stock traded up $0.11 during trading on Friday, reaching $35.82. 724,959 shares of the company’s stock were exchanged, compared to its average volume of 1,042,011. The company’s 50-day moving average is $35.04 and its two-hundred day moving average is $33.73. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.71 and a current ratio of 0.82. Pembina Pipeline Co. has a 52-week low of $28.15 and a 52-week high of $36.17. The firm has a market cap of $20.76 billion, a price-to-earnings ratio of 16.21, a PEG ratio of 5.29 and a beta of 1.20.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last announced its quarterly earnings results on Thursday, February 22nd. The pipeline company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.34. Pembina Pipeline had a net margin of 19.43% and a return on equity of 13.11%. The firm had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.83 billion. On average, analysts predict that Pembina Pipeline Co. will post 2.24 earnings per share for the current year.

Pembina Pipeline Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given a dividend of $0.4944 per share. This represents a $1.98 dividend on an annualized basis and a yield of 5.52%. This is a boost from Pembina Pipeline’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Thursday, March 14th. Pembina Pipeline’s dividend payout ratio is 89.14%.

Wall Street Analysts Forecast Growth

PBA has been the subject of several recent analyst reports. StockNews.com raised shares of Pembina Pipeline from a “hold” rating to a “buy” rating in a research note on Friday, April 12th. TheStreet raised shares of Pembina Pipeline from a “c” rating to a “b-” rating in a research note on Thursday, February 29th. Finally, CIBC boosted their price objective on shares of Pembina Pipeline from $56.00 to $57.00 and gave the company an “outperformer” rating in a research note on Friday, April 19th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $52.00.

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.