Recurrent Investment Advisors LLC Sells 152,081 Shares of Pembina Pipeline Corp. $PBA

Recurrent Investment Advisors LLC reduced its position in shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 8.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,699,083 shares of the pipeline company’s stock after selling 152,081 shares during the period. Pembina Pipeline comprises approximately 5.3% of Recurrent Investment Advisors LLC’s portfolio, making the stock its 6th largest position. Recurrent Investment Advisors LLC’s holdings in Pembina Pipeline were worth $69,007,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Westside Investment Management Inc. increased its holdings in Pembina Pipeline by 100.0% in the third quarter. Westside Investment Management Inc. now owns 808 shares of the pipeline company’s stock valued at $32,000 after buying an additional 404 shares during the last quarter. Physician Wealth Advisors Inc. raised its stake in Pembina Pipeline by 441.2% in the third quarter. Physician Wealth Advisors Inc. now owns 920 shares of the pipeline company’s stock valued at $37,000 after buying an additional 750 shares in the last quarter. Golden State Wealth Management LLC purchased a new stake in Pembina Pipeline during the 3rd quarter worth about $40,000. Mather Group LLC. purchased a new stake in Pembina Pipeline during the 3rd quarter worth about $45,000. Finally, State of Wyoming acquired a new position in shares of Pembina Pipeline during the 2nd quarter worth about $58,000. Institutional investors and hedge funds own 55.37% of the company’s stock.

Pembina Pipeline Stock Down 0.0%

PBA stock opened at $44.51 on Friday. Pembina Pipeline Corp. has a 12 month low of $34.13 and a 12 month high of $45.09. The company has a market cap of $25.86 billion, a price-to-earnings ratio of 23.43 and a beta of 0.68. The company has a fifty day moving average price of $41.72 and a 200 day moving average price of $39.66. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.61 and a quick ratio of 0.47.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last released its quarterly earnings results on Thursday, February 26th. The pipeline company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.06. Pembina Pipeline had a return on equity of 11.17% and a net margin of 21.76%.The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same quarter last year, the company posted $0.92 earnings per share. The business’s revenue was down 10.8% on a year-over-year basis. Sell-side analysts expect that Pembina Pipeline Corp. will post 2.15 earnings per share for the current year.

Pembina Pipeline Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 6.4%. The ex-dividend date is Monday, March 16th. Pembina Pipeline’s dividend payout ratio (DPR) is 106.84%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. BMO Capital Markets reiterated a “market perform” rating on shares of Pembina Pipeline in a report on Friday, February 27th. Zacks Research upgraded Pembina Pipeline from a “strong sell” rating to a “hold” rating in a research note on Friday, January 23rd. Weiss Ratings raised Pembina Pipeline from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 2nd. Finally, TD Securities lowered shares of Pembina Pipeline from a “buy” rating to a “hold” rating in a research note on Tuesday, February 17th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $60.00.

Pembina Pipeline Company Profile

Pembina Pipeline Corporation (NYSE: PBA) is a North American energy infrastructure company that develops, owns and operates midstream assets that transport, store and process hydrocarbons. Its core business focuses on the transportation of crude oil, natural gas liquids (NGLs) and condensate, along with gas processing, fractionation, storage and related marketing services. Pembina serves producers, refiners and other energy companies by providing pipeline capacity, terminal services and midstream solutions that link upstream production to downstream markets and export facilities.

The company’s asset base is concentrated in Western Canada, including major operations in Alberta and British Columbia, and it also has operations and commercial activities that extend into the United States.