M&T Bank Corp Grows Position in Pembina Pipeline Co. (NYSE:PBA)

M&T Bank Corp raised its position in shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 3.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 84,481 shares of the pipeline company’s stock after buying an additional 2,441 shares during the period. M&T Bank Corp’s holdings in Pembina Pipeline were worth $2,908,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Healthcare of Ontario Pension Plan Trust Fund boosted its position in Pembina Pipeline by 340.0% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,640,000 shares of the pipeline company’s stock valued at $79,412,000 after acquiring an additional 2,040,000 shares in the last quarter. Mackenzie Financial Corp lifted its stake in shares of Pembina Pipeline by 5.7% in the 4th quarter. Mackenzie Financial Corp now owns 12,652,115 shares of the pipeline company’s stock valued at $435,812,000 after purchasing an additional 680,945 shares during the period. Toronto Dominion Bank grew its stake in Pembina Pipeline by 8.3% in the third quarter. Toronto Dominion Bank now owns 7,699,608 shares of the pipeline company’s stock worth $231,450,000 after purchasing an additional 593,061 shares during the period. Triasima Portfolio Management inc. bought a new position in Pembina Pipeline in the fourth quarter worth $17,285,000. Finally, Duff & Phelps Investment Management Co. lifted its position in Pembina Pipeline by 44.9% during the fourth quarter. Duff & Phelps Investment Management Co. now owns 1,556,638 shares of the pipeline company’s stock valued at $53,850,000 after buying an additional 482,067 shares during the period. Institutional investors own 55.37% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. CIBC increased their price target 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. TheStreet raised shares of Pembina Pipeline from a “c” rating to a “b-” rating in a research note on Thursday, February 29th. Finally, StockNews.com raised Pembina Pipeline from a “hold” rating to a “buy” rating in a research report on Friday, April 12th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Pembina Pipeline has an average rating of “Moderate Buy” and an average price target of $52.00.

Pembina Pipeline Stock Up 0.4 %

PBA stock opened at $36.03 on Wednesday. The stock has a market capitalization of $20.88 billion, a P/E ratio of 16.30, a P/E/G ratio of 5.28 and a beta of 1.20. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.82 and a quick ratio of 0.71. Pembina Pipeline Co. has a 1-year low of $28.15 and a 1-year high of $36.17. The business has a fifty day moving average price of $35.20 and a 200-day moving average price of $34.02.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last posted its earnings results on Thursday, February 22nd. The pipeline company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.34. Pembina Pipeline had a net margin of 19.43% and a return on equity of 13.11%. The business had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.83 billion. Equities analysts forecast that Pembina Pipeline Co. will post 2.24 earnings per share for the current fiscal year.

Pembina Pipeline Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were given a $0.4944 dividend. This represents a $1.98 dividend on an annualized basis and a yield of 5.49%. The ex-dividend date of this dividend was Thursday, March 14th. This is an increase from Pembina Pipeline’s previous quarterly dividend of $0.48. Pembina Pipeline’s payout ratio is 89.14%.

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.