Pembina Pipeline Corp. $PBA Shares Sold by PCJ Investment Counsel Ltd.

PCJ Investment Counsel Ltd. lowered its stake in Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 33.5% during the third quarter, Holdings Channel.com reports. The institutional investor owned 127,780 shares of the pipeline company’s stock after selling 64,340 shares during the period. Pembina Pipeline makes up approximately 1.4% of PCJ Investment Counsel Ltd.’s portfolio, making the stock its 24th largest position. PCJ Investment Counsel Ltd.’s holdings in Pembina Pipeline were worth $5,168,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the stock. Varma Mutual Pension Insurance Co boosted its stake in shares of Pembina Pipeline by 8.6% during the 3rd quarter. Varma Mutual Pension Insurance Co now owns 309,779 shares of the pipeline company’s stock worth $12,528,000 after purchasing an additional 24,400 shares during the last quarter. Quantbot Technologies LP grew its holdings in shares of Pembina Pipeline by 66.3% during the second quarter. Quantbot Technologies LP now owns 76,566 shares of the pipeline company’s stock worth $2,872,000 after buying an additional 30,523 shares in the last quarter. Ontario Teachers Pension Plan Board acquired a new position in shares of Pembina Pipeline in the second quarter valued at approximately $1,658,000. First Trust Advisors LP lifted its stake in shares of Pembina Pipeline by 411.1% during the second quarter. First Trust Advisors LP now owns 1,247,976 shares of the pipeline company’s stock valued at $46,820,000 after buying an additional 1,003,819 shares during the period. Finally, Westwood Holdings Group Inc. lifted its stake in shares of Pembina Pipeline by 14.1% during the second quarter. Westwood Holdings Group Inc. now owns 1,629,929 shares of the pipeline company’s stock valued at $61,139,000 after buying an additional 201,096 shares during the period. Institutional investors and hedge funds own 55.37% of the company’s stock.

Pembina Pipeline Trading Up 0.2%

Shares of PBA stock opened at $44.67 on Wednesday. The firm’s 50-day simple moving average is $41.46 and its 200-day simple moving average is $39.59. 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 Corp. has a 1-year low of $34.13 and a 1-year high of $45.09. The firm has a market cap of $25.95 billion, a P/E ratio of 23.51 and a beta of 0.68.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last released its earnings results on Thursday, February 26th. The pipeline company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.06. Pembina Pipeline had a net margin of 21.76% and a return on equity of 11.17%. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.41 billion. During the same period in the previous year, the firm earned $0.92 earnings per share. Pembina Pipeline’s revenue was down 10.8% compared to the same quarter last year. As a group, equities analysts forecast that Pembina Pipeline Corp. will post 2.15 EPS for the current year.

Pembina Pipeline Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th will be paid a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, March 16th. This represents a $2.84 annualized dividend and a dividend yield of 6.4%. Pembina Pipeline’s payout ratio is currently 109.47%.

Analysts Set New Price Targets

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