Alberta Investment Management Corp Cuts Holdings in Pembina Pipeline Corp. (NYSE:PBA)

Key Points

• Alberta Investment Management Corp reduced its stake in Pembina Pipeline Corp by 11.6%, currently holding 1,546,159 shares valued at approximately $61.8 million.
• The company recently increased its quarterly dividend to $0.5109 per share, reflecting a dividend yield of 5.5% and a payout ratio of 93.67%.
• Pembina Pipeline stock received mixed ratings from analysts, with one downgrade to "hold" and others upgrading it to "strong-buy," resulting in an average rating of "Moderate Buy."

Alberta Investment Management Corp trimmed its holdings in shares of Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL by 11.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,546,159 shares of the pipeline company's stock after selling 202,146 shares during the period. Alberta Investment Management Corp owned about 0.27% of Pembina Pipeline worth $61,836,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PBA. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of Pembina Pipeline by 1,591.4% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 3,155,558 shares of the pipeline company's stock worth $116,440,000 after purchasing an additional 2,968,994 shares during the last quarter. Mackenzie Financial Corp increased its position in shares of Pembina Pipeline by 10.6% during the fourth quarter. Mackenzie Financial Corp now owns 13,930,847 shares of the pipeline company's stock worth $514,154,000 after purchasing an additional 1,331,294 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Pembina Pipeline by 30.4% during the fourth quarter. Geode Capital Management LLC now owns 3,539,660 shares of the pipeline company's stock worth $133,449,000 after purchasing an additional 824,232 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Pembina Pipeline by 21.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,616,105 shares of the pipeline company's stock worth $96,665,000 after purchasing an additional 460,646 shares in the last quarter. Finally, Nuveen Asset Management LLC increased its position in shares of Pembina Pipeline by 28.9% during the fourth quarter. Nuveen Asset Management LLC now owns 1,943,874 shares of the pipeline company's stock worth $71,784,000 after purchasing an additional 435,763 shares in the last quarter. 55.37% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PBA. National Bankshares raised shares of Pembina Pipeline from a "sector perform" rating to an "outperform" rating in a research report on Thursday, June 26th. Barclays reissued an "overweight" rating on shares of Pembina Pipeline in a research report on Tuesday, June 3rd. National Bank Financial raised shares of Pembina Pipeline from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, June 25th. Finally, Jefferies Financial Group downgraded shares of Pembina Pipeline from a "buy" rating to a "hold" rating in a research report on Wednesday, July 23rd. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Pembina Pipeline has a consensus rating of "Moderate Buy" and an average price target of $56.00.

Pembina Pipeline Stock Performance

Shares of PBA stock remained flat at $37.19 on Friday. 854,685 shares of the stock traded hands, compared to its average volume of 876,669. The company's fifty day moving average price is $37.27 and its 200-day moving average price is $37.54. The company has a quick ratio of 0.52, a current ratio of 0.64 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $21.60 billion, a PE ratio of 16.83 and a beta of 0.78. Pembina Pipeline Corp. has a 1 year low of $34.13 and a 1 year high of $43.44.

Pembina Pipeline (NYSE:PBA - Get Free Report) TSE: PPL last posted its quarterly earnings results on Thursday, May 8th. The pipeline company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.23. Pembina Pipeline had a net margin of 23.73% and a return on equity of 12.61%. The business had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.47 billion. During the same quarter in the prior year, the company posted $0.73 EPS. The business's revenue for the quarter was up 48.2% on a year-over-year basis. On average, equities research analysts anticipate that Pembina Pipeline Corp. will post 2.15 EPS for the current fiscal year.

Pembina Pipeline Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were given a dividend of $0.5109 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date of this dividend was Monday, June 16th. This is an increase from Pembina Pipeline's previous quarterly dividend of $0.48. Pembina Pipeline's dividend payout ratio is 93.67%.

About Pembina Pipeline

Pembina Pipeline Corporation provides energy transportation and midstream services. It operates through three segments: Pipelines, Facilities, and Marketing & New Ventures. The Pipelines segment operates conventional, oil sands and heavy oil, and transmission assets with a transportation capacity of 2.9 millions of barrels of oil equivalent per day, the ground storage capacity of 10 millions of barrels, and rail terminalling capacity of approximately 105 thousands of barrels of oil equivalent per day serving markets and basins across North America.