Morgan Dempsey Capital Management LLC Has $5.65 Million Position in Pembina Pipeline Corp. $PBA

Morgan Dempsey Capital Management LLC cut its holdings in shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 9.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 148,446 shares of the pipeline company’s stock after selling 15,737 shares during the quarter. Pembina Pipeline comprises 2.7% of Morgan Dempsey Capital Management LLC’s portfolio, making the stock its 17th biggest holding. Morgan Dempsey Capital Management LLC’s holdings in Pembina Pipeline were worth $5,650,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in PBA. Norges Bank acquired a new position in shares of Pembina Pipeline during the 4th quarter worth approximately $213,701,000. Morgan Stanley increased its holdings in shares of Pembina Pipeline by 45.4% during the 4th quarter. Morgan Stanley now owns 4,723,159 shares of the pipeline company’s stock worth $179,763,000 after acquiring an additional 1,475,320 shares during the last quarter. MUFG Securities EMEA plc acquired a new position in shares of Pembina Pipeline during the 2nd quarter worth approximately $52,514,000. CIBC Asset Management Inc increased its holdings in shares of Pembina Pipeline by 17.8% during the 4th quarter. CIBC Asset Management Inc now owns 8,620,307 shares of the pipeline company’s stock worth $329,245,000 after acquiring an additional 1,304,227 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Pembina Pipeline by 61.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,328,709 shares of the pipeline company’s stock worth $94,207,000 after acquiring an additional 887,413 shares during the last quarter. 55.37% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on PBA shares. Royal Bank Of Canada boosted their price target on Pembina Pipeline from $64.00 to $68.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. Barclays restated an “overweight” rating on shares of Pembina Pipeline in a research note on Thursday, May 21st. TD Securities upgraded Pembina Pipeline from a “hold” rating to a “buy” rating in a research note on Tuesday, May 26th. Weiss Ratings upgraded Pembina Pipeline from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 2nd. Finally, Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Pembina Pipeline in a research note on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $62.67.

Pembina Pipeline Stock Performance

PBA opened at $48.33 on Monday. The business has a fifty day simple moving average of $46.27 and a 200 day simple moving average of $42.95. The company has a market capitalization of $28.10 billion, a PE ratio of 25.17 and a beta of 0.57. Pembina Pipeline Corp. has a 1 year low of $35.45 and a 1 year high of $50.10. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.83 and a quick ratio of 0.68.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last released its quarterly earnings results on Thursday, May 7th. The pipeline company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.07. The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.06 billion. Pembina Pipeline had a return on equity of 11.47% and a net margin of 22.22%.The firm’s quarterly revenue was down 7.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.80 EPS. Research analysts expect that Pembina Pipeline Corp. will post 2.28 EPS for the current year.

Pembina Pipeline Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be given a dividend of $0.735 per share. This represents a $2.94 dividend on an annualized basis and a dividend yield of 6.1%. The ex-dividend date is Monday, June 15th. This is a positive change from Pembina Pipeline’s previous quarterly dividend of $0.71. Pembina Pipeline’s dividend payout ratio is currently 108.33%.

About Pembina Pipeline

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.