Cidel Asset Management Inc. Decreases Holdings in Pembina Pipeline Corp. (NYSE:PBA)

Cidel Asset Management Inc. trimmed its position in shares of Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL by 4.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 243,435 shares of the pipeline company's stock after selling 10,280 shares during the period. Cidel Asset Management Inc.'s holdings in Pembina Pipeline were worth $9,736,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its holdings in shares of Pembina Pipeline by 6.6% during the 1st quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,785,369 shares of the pipeline company's stock valued at $71,468,000 after buying an additional 110,042 shares in the last quarter. Achmea Investment Management B.V. raised its holdings in shares of Pembina Pipeline by 22.5% during the 1st quarter. Achmea Investment Management B.V. now owns 518,016 shares of the pipeline company's stock valued at $20,717,000 after buying an additional 95,178 shares in the last quarter. Sequoia Financial Advisors LLC raised its holdings in shares of Pembina Pipeline by 13.1% during the 1st quarter. Sequoia Financial Advisors LLC now owns 16,060 shares of the pipeline company's stock valued at $643,000 after buying an additional 1,854 shares in the last quarter. Bessemer Group Inc. grew its position in shares of Pembina Pipeline by 5.7% in the 1st quarter. Bessemer Group Inc. now owns 20,598 shares of the pipeline company's stock worth $825,000 after buying an additional 1,107 shares during the last quarter. Finally, JCIC Asset Management Inc. grew its position in shares of Pembina Pipeline by 6.8% in the 1st quarter. JCIC Asset Management Inc. now owns 5,133 shares of the pipeline company's stock worth $205,000 after buying an additional 325 shares during the last quarter. 55.37% of the stock is owned by hedge funds and other institutional investors.

Pembina Pipeline Stock Up 0.9%

Pembina Pipeline stock opened at $37.54 on Tuesday. The stock has a market cap of $21.81 billion, a PE ratio of 16.99 and a beta of 0.76. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.52 and a current ratio of 0.64. Pembina Pipeline Corp. has a one year low of $34.13 and a one year high of $43.44. The stock has a fifty day moving average of $37.79 and a 200 day moving average of $37.50.

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

Pembina Pipeline Increases Dividend

The firm also recently announced 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. The ex-dividend date of this dividend was Monday, June 16th. This represents a $2.04 annualized dividend and a dividend yield of 5.44%. This is a boost from Pembina Pipeline's previous quarterly dividend of $0.48. Pembina Pipeline's dividend payout ratio (DPR) is currently 93.67%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on PBA shares. Citigroup upgraded Pembina Pipeline from a "neutral" rating to a "buy" rating in a research report on Monday, March 10th. National Bankshares raised Pembina Pipeline from a "sector perform" rating to an "outperform" rating in a report on Thursday, June 26th. Barclays reiterated an "overweight" rating on shares of Pembina Pipeline in a research report on Tuesday, June 3rd. Finally, National Bank Financial upgraded Pembina Pipeline from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, June 25th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Pembina Pipeline currently has a consensus rating of "Moderate Buy" and an average target price of $56.00.

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.

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