Catalyst Capital Advisors LLC Lowers Stock Holdings in Pembina Pipeline Corp. $PBA

Key Points

• Catalyst Capital Advisors reduced its Pembina Pipeline position by 7.4% in the first quarter, selling 29,781 shares and leaving it with 370,106 shares valued at about $16.6 million.
• Pembina Pipeline reported better-than-expected quarterly results, posting $0.59 EPS versus the $0.52 estimate and $1.11 billion in revenue versus $1.06 billion expected, while also raising its quarterly dividend to $0.735 per share.
• Wall Street views remain mixed, but the stock has a Hold consensus rating with a $64.00 target price; shares recently traded near $51.28, close to their 52-week high.

Catalyst Capital Advisors LLC lowered its position in shares of Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL by 7.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 370,106 shares of the pipeline company's stock after selling 29,781 shares during the period. Catalyst Capital Advisors LLC owned 0.06% of Pembina Pipeline worth $16,566,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of PBA. Empowered Funds LLC grew its position in shares of Pembina Pipeline by 1.0% during the 4th quarter. Empowered Funds LLC now owns 24,449 shares of the pipeline company's stock valued at $931,000 after purchasing an additional 248 shares in the last quarter. Larson Financial Group LLC raised its position in shares of Pembina Pipeline by 32.4% in the third quarter. Larson Financial Group LLC now owns 1,059 shares of the pipeline company's stock worth $43,000 after buying an additional 259 shares in the last quarter. Ethic Inc. raised its position in shares of Pembina Pipeline by 2.0% in the fourth quarter. Ethic Inc. now owns 14,150 shares of the pipeline company's stock worth $539,000 after buying an additional 278 shares in the last quarter. Brown Brothers Harriman & Co. raised its holdings in shares of Pembina Pipeline by 3.6% in the 4th quarter. Brown Brothers Harriman & Co. now owns 9,768 shares of the pipeline company's stock valued at $372,000 after acquiring an additional 341 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. raised its holdings in shares of Pembina Pipeline by 1.9% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 21,014 shares of the pipeline company's stock valued at $800,000 after acquiring an additional 386 shares in the last quarter. Institutional investors own 55.37% of the company's stock.

Pembina Pipeline Price Performance

PBA stock opened at $51.28 on Friday. The firm has a market cap of $29.82 billion, a P/E ratio of 26.71 and a beta of 0.57. The firm's fifty day moving average is $48.00 and its 200 day moving average is $44.54. Pembina Pipeline Corp. has a 52 week low of $35.45 and a 52 week high of $51.56. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.68 and a current ratio of 0.83.

Pembina Pipeline (NYSE:PBA - Get Free Report) TSE: PPL last posted 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 analyst estimates of $1.06 billion. Pembina Pipeline had a net margin of 22.22% and a return on equity of 11.47%. The company's revenue was down 7.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.80 earnings per share. Research analysts predict that Pembina Pipeline Corp. will post 2.23 earnings per share for the current 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 dividend of $0.735 per share. This represents a $2.94 annualized dividend and a yield of 5.7%. The ex-dividend date was 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 110.94%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Canadian Imperial Bank of Commerce reaffirmed an "outperform" rating on shares of Pembina Pipeline in a research note on Friday, July 3rd. Wall Street Zen cut shares of Pembina Pipeline from a "hold" rating to a "sell" rating in a research note on Saturday, June 27th. TD Securities reissued a "buy" rating on shares of Pembina Pipeline in a report on Thursday. Weiss Ratings cut shares of Pembina Pipeline from a "buy (b)" rating to a "buy (b-)" rating in a research report on Monday. Finally, BMO Capital Markets reaffirmed a "market perform" rating and set a $68.00 price objective on shares of Pembina Pipeline in a report on Friday, July 3rd. Six equities research 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. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $64.00.

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.

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