Norges Bank Acquires New Position in Pembina Pipeline Co. (NYSE:PBA)

Norges Bank purchased a new stake in shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) in the fourth quarter, HoldingsChannel.com reports. The fund purchased 3,889,481 shares of the pipeline company’s stock, valued at approximately $133,917,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Baystate Wealth Management LLC acquired a new stake in shares of Pembina Pipeline during the 4th quarter valued at approximately $34,000. First Horizon Advisors Inc. lifted its position in shares of Pembina Pipeline by 303.7% during the 4th quarter. First Horizon Advisors Inc. now owns 1,518 shares of the pipeline company’s stock valued at $52,000 after acquiring an additional 1,142 shares during the period. Rational Advisors LLC acquired a new stake in shares of Pembina Pipeline during the 3rd quarter valued at approximately $59,000. Massmutual Trust Co. FSB ADV lifted its position in shares of Pembina Pipeline by 22.6% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,786 shares of the pipeline company’s stock valued at $61,000 after acquiring an additional 329 shares during the period. Finally, Pacifica Partners Inc. lifted its position in shares of Pembina Pipeline by 159.0% during the 4th quarter. Pacifica Partners Inc. now owns 2,020 shares of the pipeline company’s stock valued at $68,000 after acquiring an additional 1,240 shares during the period. 55.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on PBA shares. TheStreet upgraded shares of Pembina Pipeline from a “c” rating to a “b-” rating in a research report on Thursday, February 29th. StockNews.com cut shares of Pembina Pipeline from a “buy” rating to a “hold” rating in a research note on Monday, May 13th. Scotiabank cut shares of Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a research note on Sunday, May 19th. Finally, CIBC raised their price objective on shares of Pembina Pipeline from $56.00 to $57.00 and gave the stock an “outperformer” rating in a research note on Friday, April 19th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $52.00.

Pembina Pipeline Stock Down 1.0 %

PBA stock opened at $36.27 on Friday. The stock has a market capitalization of $21.02 billion, a P/E ratio of 15.77, a PEG ratio of 5.37 and a beta of 1.20. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.93 and a current ratio of 1.03. Pembina Pipeline Co. has a one year low of $28.15 and a one year high of $37.47. The company has a 50 day moving average price of $35.60 and a two-hundred day moving average price of $34.47.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last released its earnings results on Thursday, February 22nd. The pipeline company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.55 by $0.34. The firm had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.83 billion. Pembina Pipeline had a net margin of 21.61% and a return on equity of 13.33%. As a group, sell-side analysts expect that Pembina Pipeline Co. will post 2.27 EPS for the current year.

Pembina Pipeline Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Monday, June 17th will be paid a $0.501 dividend. This is a boost from Pembina Pipeline’s previous quarterly dividend of $0.49. This represents a $2.00 annualized dividend and a yield of 5.53%. The ex-dividend date is Monday, June 17th. Pembina Pipeline’s payout ratio is presently 85.65%.

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.