Quadrant Capital Group LLC increased its holdings in Pembina Pipeline Corp (NYSE:PBA) (TSE:PPL) by 14.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 7,781 shares of the pipeline company’s stock after buying an additional 979 shares during the period. Quadrant Capital Group LLC’s holdings in Pembina Pipeline were worth $287,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Beach Investment Counsel Inc. PA grew its holdings in shares of Pembina Pipeline by 14.7% in the 2nd quarter. Beach Investment Counsel Inc. PA now owns 17,130 shares of the pipeline company’s stock worth $637,000 after purchasing an additional 2,200 shares during the last quarter. Cornerstone Advisors Inc. raised its holdings in Pembina Pipeline by 51.7% during the 2nd quarter. Cornerstone Advisors Inc. now owns 804 shares of the pipeline company’s stock worth $30,000 after buying an additional 274 shares during the period. Gradient Investments LLC raised its holdings in Pembina Pipeline by 37.2% during the 2nd quarter. Gradient Investments LLC now owns 1,229 shares of the pipeline company’s stock worth $46,000 after buying an additional 333 shares during the period. Raymond James Trust N.A. grew its stake in shares of Pembina Pipeline by 3.2% during the 2nd quarter. Raymond James Trust N.A. now owns 9,828 shares of the pipeline company’s stock worth $366,000 after acquiring an additional 302 shares in the last quarter. Finally, JCIC Asset Management Inc. grew its stake in shares of Pembina Pipeline by 0.7% during the 2nd quarter. JCIC Asset Management Inc. now owns 110,975 shares of the pipeline company’s stock worth $4,131,000 after acquiring an additional 745 shares in the last quarter. 51.32% of the stock is owned by institutional investors and hedge funds.
Separately, Zacks Investment Research raised shares of Pembina Pipeline from a “sell” rating to a “hold” rating in a research report on Wednesday, July 24th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Pembina Pipeline has an average rating of “Buy” and a consensus price target of $40.00.
Pembina Pipeline (NYSE:PBA) (TSE:PPL) last posted its earnings results on Thursday, August 1st. The pipeline company reported $1.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.81. Pembina Pipeline had a return on equity of 13.97% and a net margin of 22.20%. The company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter last year, the firm earned $0.43 earnings per share. The company’s revenue was up 3.7% on a year-over-year basis. Research analysts expect that Pembina Pipeline Corp will post 1.71 EPS for the current year.
The company also recently announced a monthly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Thursday, July 25th will be issued a dividend of $0.153 per share. The ex-dividend date of this dividend is Wednesday, July 24th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 5.02%. This is an increase from Pembina Pipeline’s previous monthly dividend of $0.13. Pembina Pipeline’s dividend payout ratio (DPR) is currently 103.39%.
Pembina Pipeline Company 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 Pipelines division operates conventional, transmission, and oil sands and heavy oil pipeline assets with a total capacity of 3 million barrels of oil serving markets and basins across North America through conventional, transmission, and oil sand pipelines assets.
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