Pembina Pipeline Co. (NYSE:PBA) Shares Sold by A. D. Beadell Investment Counsel Inc.

A. D. Beadell Investment Counsel Inc. reduced its position in shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 2.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 83,755 shares of the pipeline company’s stock after selling 2,290 shares during the period. Pembina Pipeline accounts for approximately 2.8% of A. D. Beadell Investment Counsel Inc.’s holdings, making the stock its 9th biggest position. A. D. Beadell Investment Counsel Inc.’s holdings in Pembina Pipeline were worth $3,352,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Van ECK Associates Corp increased its holdings in shares of Pembina Pipeline by 8.0% during the 4th quarter. Van ECK Associates Corp now owns 225,684 shares of the pipeline company’s stock worth $8,335,000 after purchasing an additional 16,762 shares during the period. PNC Financial Services Group Inc. increased its stake in Pembina Pipeline by 1.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 22,903 shares of the pipeline company’s stock valued at $846,000 after acquiring an additional 348 shares during the period. Jennison Associates LLC raised its holdings in Pembina Pipeline by 32.3% in the 4th quarter. Jennison Associates LLC now owns 616,992 shares of the pipeline company’s stock valued at $22,786,000 after acquiring an additional 150,689 shares in the last quarter. Bank of Nova Scotia Trust Co. raised its holdings in Pembina Pipeline by 20.9% in the 4th quarter. Bank of Nova Scotia Trust Co. now owns 337,379 shares of the pipeline company’s stock valued at $12,466,000 after acquiring an additional 58,366 shares in the last quarter. Finally, Korea Investment CORP lifted its position in shares of Pembina Pipeline by 32.7% in the 4th quarter. Korea Investment CORP now owns 440,818 shares of the pipeline company’s stock worth $16,279,000 after acquiring an additional 108,529 shares during the period. 55.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Citigroup upgraded Pembina Pipeline from a “neutral” rating to a “buy” rating in a research report on Monday, March 10th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $56.00.

Pembina Pipeline Trading Down 0.1%

PBA stock opened at $37.75 on Friday. Pembina Pipeline Co. has a 1-year low of $34.13 and a 1-year high of $43.44. The company has a current ratio of 0.65, a quick ratio of 0.51 and a debt-to-equity ratio of 0.79. The business’s 50 day moving average is $37.75 and its 200-day moving average is $37.92. The firm has a market cap of $21.93 billion, a P/E ratio of 15.60 and a beta of 0.81.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last announced its quarterly earnings results on Thursday, May 8th. The pipeline company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.23. Pembina Pipeline had a return on equity of 13.62% and a net margin of 25.39%. The firm had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.47 billion. During the same period in the prior year, the business posted $0.73 earnings per share. The business’s revenue was up 48.2% compared to the same quarter last year. Equities analysts anticipate that Pembina Pipeline Co. will post 2.15 earnings per share for the current fiscal year.

Pembina Pipeline Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be paid a $0.5109 dividend. The ex-dividend date is Monday, June 16th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 5.41%. This is a boost from Pembina Pipeline’s previous quarterly dividend of $0.48. Pembina Pipeline’s payout ratio is 89.14%.

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.