Harvest Portfolios Group Inc. Has $10.78 Million Holdings in Pembina Pipeline Co. (NYSE:PBA)

Harvest Portfolios Group Inc. raised its position in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 1.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 261,407 shares of the pipeline company’s stock after purchasing an additional 2,630 shares during the quarter. Harvest Portfolios Group Inc.’s holdings in Pembina Pipeline were worth $10,776,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Janney Montgomery Scott LLC raised its position in Pembina Pipeline by 6.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 9,475 shares of the pipeline company’s stock valued at $335,000 after buying an additional 538 shares during the last quarter. Capstone Investment Advisors LLC acquired a new stake in shares of Pembina Pipeline in the first quarter valued at approximately $308,000. Jennison Associates LLC lifted its position in shares of Pembina Pipeline by 5.3% in the first quarter. Jennison Associates LLC now owns 662,544 shares of the pipeline company’s stock worth $23,400,000 after purchasing an additional 33,495 shares in the last quarter. Mediolanum International Funds Ltd acquired a new position in Pembina Pipeline during the first quarter worth $1,745,000. Finally, Broderick Brian C grew its position in Pembina Pipeline by 16.8% in the first quarter. Broderick Brian C now owns 30,524 shares of the pipeline company’s stock valued at $1,079,000 after purchasing an additional 4,400 shares in the last quarter. 55.37% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on PBA shares. Raymond James assumed coverage on shares of Pembina Pipeline in a research note on Friday, October 11th. They set an “outperform” rating for the company. Citigroup raised their price target on Pembina Pipeline from $53.00 to $56.00 and gave the company a “neutral” rating in a research note on Wednesday, August 28th. Finally, UBS Group began coverage on Pembina Pipeline in a research note on Wednesday, September 11th. They set a “neutral” rating on the stock. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $56.50.

Pembina Pipeline Stock Performance

Shares of NYSE PBA opened at $42.41 on Wednesday. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.68 and a quick ratio of 0.55. The firm has a market cap of $24.62 billion, a price-to-earnings ratio of 17.60 and a beta of 1.25. The stock’s fifty day moving average price is $41.58 and its two-hundred day moving average price is $38.78. Pembina Pipeline Co. has a one year low of $31.51 and a one year high of $43.44.

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

Pembina Pipeline Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 6.51%. This is an increase from Pembina Pipeline’s previous quarterly dividend of $0.50. Pembina Pipeline’s payout ratio is presently 85.00%.

Pembina Pipeline 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.