Connor Clark & Lunn Investment Management Ltd. Sells 1,665,743 Shares of Pembina Pipeline Corp. (NYSE:PBA)

Connor Clark & Lunn Investment Management Ltd. lowered its stake in shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 26.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,583,881 shares of the pipeline company’s stock after selling 1,665,743 shares during the period. Pembina Pipeline makes up 0.8% of Connor Clark & Lunn Investment Management Ltd.’s portfolio, making the stock its 26th biggest position. Connor Clark & Lunn Investment Management Ltd.’s holdings in Pembina Pipeline were worth $183,379,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of the business. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of Pembina Pipeline by 1,591.4% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 3,155,558 shares of the pipeline company’s stock valued at $116,440,000 after purchasing an additional 2,968,994 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in shares of Pembina Pipeline by 10.6% during the 4th quarter. Mackenzie Financial Corp now owns 13,930,847 shares of the pipeline company’s stock valued at $514,154,000 after purchasing an additional 1,331,294 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Pembina Pipeline by 21.4% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,616,105 shares of the pipeline company’s stock valued at $96,665,000 after purchasing an additional 460,646 shares in the last quarter. Nuveen Asset Management LLC lifted its holdings in shares of Pembina Pipeline by 28.9% during the 4th quarter. Nuveen Asset Management LLC now owns 1,943,874 shares of the pipeline company’s stock valued at $71,784,000 after purchasing an additional 435,763 shares in the last quarter. Finally, HITE Hedge Asset Management LLC bought a new position in shares of Pembina Pipeline during the 4th quarter valued at about $16,028,000. Institutional investors and hedge funds own 55.37% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on PBA shares. Wall Street Zen cut Pembina Pipeline from a “hold” rating to a “sell” rating in a report on Saturday. Wells Fargo & Company cut Pembina Pipeline from a “hold” rating to a “strong sell” rating in a report on Wednesday. Barclays reiterated an “overweight” rating on shares of Pembina Pipeline in a report on Tuesday, June 3rd. Jefferies Financial Group cut Pembina Pipeline from a “buy” rating to a “hold” rating in a research note on Wednesday, July 23rd. Finally, National Bankshares raised Pembina Pipeline from a “sector perform” rating to an “outperform” rating in a research report on Thursday, June 26th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.00.

Pembina Pipeline Trading Down 3.7%

NYSE:PBA opened at $35.54 on Friday. Pembina Pipeline Corp. has a twelve month low of $34.13 and a twelve month high of $43.44. The company has a quick ratio of 0.52, a current ratio of 0.64 and a debt-to-equity ratio of 0.75. The business has a 50 day moving average price of $37.20 and a two-hundred day moving average price of $37.52. The company has a market cap of $20.65 billion, a P/E ratio of 16.69 and a beta of 0.78.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last released its quarterly earnings results on Thursday, May 8th. The pipeline company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.23. Pembina Pipeline had a return on equity of 12.26% and a net margin of 23.24%. The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.47 billion. During the same quarter in the prior year, the firm posted $0.73 EPS. The business’s revenue was up 48.2% on a year-over-year basis. As a group, analysts expect that Pembina Pipeline Corp. will post 2.15 EPS for the current fiscal year.

Pembina Pipeline Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 15th will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 8.0%. This is a boost from Pembina Pipeline’s previous quarterly dividend of $0.51. Pembina Pipeline’s dividend payout ratio is currently 93.67%.

About Pembina Pipeline

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.