Alliancebernstein L.P. lessened its stake in shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 56.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 90,936 shares of the pipeline company’s stock after selling 117,334 shares during the quarter. Alliancebernstein L.P.’s holdings in Pembina Pipeline were worth $2,623,000 at the end of the most recent quarter.
Several other institutional investors also recently added to or reduced their stakes in the company. Bank of Nova Scotia Trust Co. raised its stake in shares of Pembina Pipeline by 2.3% during the first quarter. Bank of Nova Scotia Trust Co. now owns 112,151 shares of the pipeline company’s stock worth $3,234,000 after purchasing an additional 2,514 shares during the last quarter. Mufg Securities Canada LTD. grew its holdings in Pembina Pipeline by 512.4% during the first quarter. Mufg Securities Canada LTD. now owns 1,792,714 shares of the pipeline company’s stock worth $51,744,000 after acquiring an additional 1,499,971 shares during the period. M&T Bank Corp grew its holdings in Pembina Pipeline by 364.6% during the first quarter. M&T Bank Corp now owns 54,651 shares of the pipeline company’s stock worth $1,576,000 after acquiring an additional 42,888 shares during the period. Avantax Planning Partners Inc. acquired a new position in Pembina Pipeline during the first quarter worth $202,000. Finally, Natixis Advisors L.P. grew its holdings in Pembina Pipeline by 14.2% during the first quarter. Natixis Advisors L.P. now owns 15,017 shares of the pipeline company’s stock worth $433,000 after acquiring an additional 1,867 shares during the period. Institutional investors and hedge funds own 55.14% of the company’s stock.
A number of research analysts recently weighed in on the company. Canaccord Genuity reaffirmed a “buy” rating on shares of Pembina Pipeline in a report on Monday, March 15th. TD Securities upped their price objective on Pembina Pipeline from $39.00 to $41.00 and gave the stock a “buy” rating in a report on Monday, May 10th. Royal Bank of Canada upped their target price on Pembina Pipeline from $40.00 to $42.00 and gave the company an “outperform” rating in a report on Monday, May 10th. BMO Capital Markets upped their target price on Pembina Pipeline from $35.00 to $37.00 and gave the company a “market perform” rating in a report on Friday, February 26th. Finally, Desjardins lowered Pembina Pipeline from a “buy” rating to a “hold” rating in a report on Tuesday, March 2nd. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $38.60.
Pembina Pipeline (NYSE:PBA) (TSE:PPL) last posted its quarterly earnings data on Thursday, May 6th. The pipeline company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.06. Pembina Pipeline had a positive return on equity of 9.21% and a negative net margin of 5.97%. The business had revenue of $2.05 billion for the quarter, compared to analyst estimates of $1.70 billion. During the same quarter last year, the company earned $0.50 earnings per share. The business’s revenue for the quarter was up 22.4% compared to the same quarter last year. On average, research analysts forecast that Pembina Pipeline Co. will post 1.97 earnings per share for the current fiscal year.
The firm also recently announced a monthly dividend, which will be paid on Thursday, July 15th. Investors of record on Friday, June 25th will be given a dividend of $0.1734 per share. The ex-dividend date is Thursday, June 24th. This is an increase from Pembina Pipeline’s previous monthly dividend of $0.17. This represents a $2.08 annualized dividend and a yield of 6.31%. Pembina Pipeline’s dividend payout ratio is 86.39%.
Pembina Pipeline Company Profile
Pembina Pipeline Corporation provides transportation and midstream services for the energy industry. 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 3.1 millions of barrels of oil equivalent per day, ground storage of 11 millions of barrels, and rail terminalling capacity of approximately 145 thousands of barrels of oil equivalent per day serving markets and basins across North America.
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