Pembina Pipeline Corp. $PBA Shares Sold by Heronetta Management L.P.

Heronetta Management L.P. reduced its stake in Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 91.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,698 shares of the pipeline company’s stock after selling 180,000 shares during the period. Pembina Pipeline makes up approximately 0.7% of Heronetta Management L.P.’s portfolio, making the stock its 12th biggest position. Heronetta Management L.P.’s holdings in Pembina Pipeline were worth $792,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of the stock. AQR Capital Management LLC acquired a new stake in shares of Pembina Pipeline during the first quarter valued at about $374,000. Focus Partners Wealth purchased a new stake in shares of Pembina Pipeline in the 1st quarter valued at approximately $312,000. Marshall Wace LLP acquired a new position in shares of Pembina Pipeline in the 2nd quarter worth approximately $253,000. Cresset Asset Management LLC lifted its holdings in shares of Pembina Pipeline by 4.1% in the 2nd quarter. Cresset Asset Management LLC now owns 13,684 shares of the pipeline company’s stock worth $513,000 after acquiring an additional 534 shares during the last quarter. Finally, AXA S.A. boosted its position in shares of Pembina Pipeline by 17.5% during the 2nd quarter. AXA S.A. now owns 23,418 shares of the pipeline company’s stock worth $878,000 after purchasing an additional 3,488 shares during the period. Institutional investors and hedge funds own 55.37% of the company’s stock.

Analyst Upgrades and Downgrades

PBA has been the subject of several research reports. TD Securities upgraded shares of Pembina Pipeline from a “hold” rating to a “buy” rating in a report on Tuesday, May 26th. JPMorgan Chase & Co. raised their price target on Pembina Pipeline from $55.00 to $60.00 and gave the stock a “neutral” rating in a research report on Thursday, March 19th. Wall Street Zen downgraded Pembina Pipeline from a “hold” rating to a “sell” rating in a report on Saturday, June 27th. Barclays reissued an “overweight” rating on shares of Pembina Pipeline in a research note on Thursday, May 21st. Finally, Royal Bank Of Canada lifted their target price on Pembina Pipeline from $64.00 to $68.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. Six analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $64.00.

Pembina Pipeline Stock Down 0.8%

Shares of Pembina Pipeline stock traded down $0.40 during trading on Friday, hitting $47.55. 763,456 shares of the stock were exchanged, compared to its average volume of 1,172,378. The stock has a market cap of $27.65 billion, a price-to-earnings ratio of 24.77 and a beta of 0.57. The firm’s 50-day moving average price is $47.52 and its 200 day moving average price is $44.09. 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 Corp. has a 12-month low of $35.45 and a 12-month high of $50.10.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last announced its quarterly earnings results on Thursday, May 7th. The pipeline company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.07. Pembina Pipeline had a return on equity of 11.47% and a net margin of 22.22%.The firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the prior year, the company posted $0.80 earnings per share. The firm’s quarterly revenue was down 7.7% compared to the same quarter last year. As a group, analysts forecast that Pembina Pipeline Corp. will post 2.23 earnings per share for the current fiscal year.

Pembina Pipeline Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were given a $0.735 dividend. This represents a $2.94 dividend on an annualized basis and a yield of 6.2%. This is a boost from Pembina Pipeline’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend was Monday, June 15th. Pembina Pipeline’s dividend payout ratio is presently 110.94%.

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.