Allianz Asset Management GmbH Sells 6,987 Shares of Pembina Pipeline Corp. (NYSE:PBA)

Allianz Asset Management GmbH lowered its stake in Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL by 7.9% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 81,589 shares of the pipeline company's stock after selling 6,987 shares during the quarter. Allianz Asset Management GmbH's holdings in Pembina Pipeline were worth $3,263,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC increased its stake in shares of Pembina Pipeline by 11.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 18,182 shares of the pipeline company's stock valued at $728,000 after acquiring an additional 1,824 shares in the last quarter. Bank of Nova Scotia Trust Co. increased its stake in Pembina Pipeline by 20.9% during the 4th quarter. Bank of Nova Scotia Trust Co. now owns 337,379 shares of the pipeline company's stock valued at $12,466,000 after purchasing an additional 58,366 shares in the last quarter. Catalyst Capital Advisors LLC increased its stake in Pembina Pipeline by 18.0% during the 1st quarter. Catalyst Capital Advisors LLC now owns 445,057 shares of the pipeline company's stock valued at $17,816,000 after purchasing an additional 67,797 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Pembina Pipeline during the 4th quarter valued at $459,000. Finally, Montrusco Bolton Investments Inc. bought a new stake in Pembina Pipeline during the 1st quarter valued at $16,221,000. Institutional investors own 55.37% of the company's stock.

Pembina Pipeline Price Performance

Shares of PBA stock remained flat at $37.19 during trading on Friday. 854,685 shares of the company traded hands, compared to its average volume of 876,669. 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 business's 50 day simple moving average is $37.27 and its 200-day simple moving average is $37.54. The firm has a market cap of $21.60 billion, a PE ratio of 16.83 and a beta of 0.78. Pembina Pipeline Corp. has a one year low of $34.13 and a one year high of $43.44.

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

Pembina Pipeline Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were given a dividend of $0.5109 per share. The ex-dividend date was Monday, June 16th. This is an increase from Pembina Pipeline's previous quarterly dividend of $0.48. This represents a $2.04 dividend on an annualized basis and a yield of 5.5%. Pembina Pipeline's dividend payout ratio (DPR) is 93.21%.

Wall Street Analyst Weigh In

PBA has been the subject of several recent analyst reports. Jefferies Financial Group lowered shares of Pembina Pipeline from a "buy" rating to a "hold" rating in a research note on Wednesday, July 23rd. Barclays reiterated an "overweight" rating on shares of Pembina Pipeline in a research note on Tuesday, June 3rd. National Bankshares upgraded shares of Pembina Pipeline from a "sector perform" rating to an "outperform" rating in a research note on Thursday, June 26th. Finally, National Bank Financial upgraded shares of Pembina Pipeline from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, June 25th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $56.00.

Pembina Pipeline Profile

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.