Bank of Montreal Can Lowers Stock Holdings in Pembina Pipeline Corp. $PBA

Bank of Montreal Can lowered its stake in shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 9.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,233,147 shares of the pipeline company’s stock after selling 2,037,511 shares during the quarter. Bank of Montreal Can’s holdings in Pembina Pipeline were worth $722,615,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. First Horizon Advisors Inc. boosted its holdings in Pembina Pipeline by 69.9% in the 1st quarter. First Horizon Advisors Inc. now owns 673 shares of the pipeline company’s stock valued at $27,000 after purchasing an additional 277 shares in the last quarter. N.E.W. Advisory Services LLC purchased a new stake in Pembina Pipeline in the 1st quarter valued at approximately $27,000. Larson Financial Group LLC boosted its holdings in Pembina Pipeline by 53.4% in the 1st quarter. Larson Financial Group LLC now owns 1,341 shares of the pipeline company’s stock valued at $54,000 after purchasing an additional 467 shares in the last quarter. Ameritas Advisory Services LLC purchased a new stake in Pembina Pipeline in the 2nd quarter valued at approximately $66,000. Finally, Hexagon Capital Partners LLC boosted its holdings in Pembina Pipeline by 17.0% in the 1st quarter. Hexagon Capital Partners LLC now owns 2,397 shares of the pipeline company’s stock valued at $96,000 after purchasing an additional 349 shares in the last quarter. Hedge funds and other institutional investors own 55.37% of the company’s stock.

Pembina Pipeline Price Performance

PBA stock opened at $37.85 on Monday. The firm has a 50 day moving average of $38.88 and a 200-day moving average of $37.94. Pembina Pipeline Corp. has a 12-month low of $34.13 and a 12-month high of $43.44. The company has a current ratio of 0.77, a quick ratio of 0.62 and a debt-to-equity ratio of 0.81. The company has a market cap of $21.99 billion, a price-to-earnings ratio of 17.77 and a beta of 0.76.

Pembina Pipeline Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 15th were given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 7.5%. The ex-dividend date was Monday, September 15th. This is a positive change from Pembina Pipeline’s previous quarterly dividend of $0.51. Pembina Pipeline’s payout ratio is 96.71%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on PBA shares. Raymond James Financial reaffirmed an “outperform” rating on shares of Pembina Pipeline in a report on Monday, August 11th. Jefferies Financial Group lowered Pembina Pipeline from a “buy” rating to a “hold” rating in a report on Wednesday, July 23rd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Pembina Pipeline in a report on Wednesday, October 8th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Pembina Pipeline in a report on Monday, August 11th. Finally, Wall Street Zen lowered Pembina Pipeline from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy”.

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.