Gold Investment Management Ltd. Acquires 439 Shares of Pembina Pipeline Co. (NYSE:PBA)

Gold Investment Management Ltd. increased its stake in shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 4.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,001 shares of the pipeline company’s stock after acquiring an additional 439 shares during the period. Gold Investment Management Ltd.’s holdings in Pembina Pipeline were worth $453,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in PBA. Heronetta Management L.P. increased its stake in shares of Pembina Pipeline by 2.1% during the 3rd quarter. Heronetta Management L.P. now owns 195,698 shares of the pipeline company’s stock worth $8,071,000 after purchasing an additional 4,000 shares during the last quarter. Keudell Morrison Wealth Management acquired a new position in shares of Pembina Pipeline in the third quarter valued at $204,000. Harvest Portfolios Group Inc. lifted its stake in shares of Pembina Pipeline by 1.0% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 261,407 shares of the pipeline company’s stock worth $10,776,000 after buying an additional 2,630 shares during the last quarter. Catalyst Capital Advisors LLC raised its holdings in Pembina Pipeline by 5.9% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 349,394 shares of the pipeline company’s stock valued at $14,409,000 after acquiring an additional 19,515 shares during the period. Finally, Intact Investment Management Inc. grew its position in shares of Pembina Pipeline by 83.2% in the third quarter. Intact Investment Management Inc. now owns 1,976,934 shares of the pipeline company’s stock valued at $81,498,000 after purchasing an additional 897,940 shares during the last quarter. Institutional investors own 55.37% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on PBA. Raymond James started coverage on Pembina Pipeline in a research report on Friday, October 11th. They set an “outperform” rating on the stock. UBS Group began coverage on Pembina Pipeline in a research report on Wednesday, September 11th. They issued a “neutral” rating on the stock. Finally, Citigroup raised their target price on shares of Pembina Pipeline from $53.00 to $56.00 and gave the company a “neutral” rating in a research report on Wednesday, August 28th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $56.50.

Pembina Pipeline Trading Up 0.0 %

Shares of NYSE:PBA traded up $0.02 during trading on Friday, reaching $41.24. The stock had a trading volume of 14,861 shares, compared to its average volume of 1,113,825. Pembina Pipeline Co. has a 52 week low of $31.51 and a 52 week high of $43.44. The firm’s fifty day moving average is $41.60 and its 200 day moving average is $38.80. The stock has a market cap of $23.94 billion, a price-to-earnings ratio of 17.18 and a beta of 1.25. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.55 and a current ratio of 0.68.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last issued its quarterly earnings results on Thursday, August 8th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.21. The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.44 billion. Pembina Pipeline had a return on equity of 13.68% and a net margin of 23.50%. The company’s revenue was up 30.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.45 earnings per share. As a group, equities analysts forecast that Pembina Pipeline Co. will post 2.38 EPS for the current fiscal year.

Pembina Pipeline Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be given a $0.69 dividend. The ex-dividend date is Monday, December 16th. This represents a $2.76 annualized dividend and a yield of 6.69%. This is a boost from Pembina Pipeline’s previous quarterly dividend of $0.50. Pembina Pipeline’s payout ratio is currently 85.00%.

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.