Bank of Nova Scotia Sells 1,229,282 Shares of Pembina Pipeline Corp. $PBA

Bank of Nova Scotia lessened its holdings in Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 26.2% during the third quarter, HoldingsChannel reports. The institutional investor owned 3,461,021 shares of the pipeline company’s stock after selling 1,229,282 shares during the quarter. Bank of Nova Scotia’s holdings in Pembina Pipeline were worth $139,939,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Westside Investment Management Inc. grew its position in Pembina Pipeline by 100.0% during the third quarter. Westside Investment Management Inc. now owns 808 shares of the pipeline company’s stock worth $32,000 after buying an additional 404 shares in the last quarter. Physician Wealth Advisors Inc. raised its holdings in shares of Pembina Pipeline by 441.2% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 920 shares of the pipeline company’s stock valued at $37,000 after acquiring an additional 750 shares in the last quarter. Golden State Wealth Management LLC bought a new stake in shares of Pembina Pipeline during the 3rd quarter valued at about $40,000. Mather Group LLC. bought a new stake in shares of Pembina Pipeline during the 3rd quarter valued at about $45,000. Finally, State of Wyoming purchased a new position in shares of Pembina Pipeline during the second quarter worth about $58,000. Institutional investors own 55.37% of the company’s stock.

Pembina Pipeline Stock Performance

Pembina Pipeline stock opened at $44.65 on Friday. The company has a current ratio of 0.61, a quick ratio of 0.47 and a debt-to-equity ratio of 0.80. The firm has a 50-day moving average of $41.84 and a 200-day moving average of $39.72. The firm has a market cap of $25.94 billion, a P/E ratio of 23.50 and a beta of 0.68. Pembina Pipeline Corp. has a 1-year low of $34.13 and a 1-year high of $45.09.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last announced its quarterly 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. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.41 billion. Pembina Pipeline had a return on equity of 11.17% and a net margin of 21.76%.Pembina Pipeline’s revenue was down 10.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.92 EPS. Sell-side analysts expect that Pembina Pipeline Corp. will post 2.15 EPS for the current year.

Pembina Pipeline Dividend Announcement

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

Analyst Upgrades and Downgrades

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

Pembina Pipeline 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.