Cumberland Partners Ltd Has $3.06 Million Position in Pembina Pipeline Corp. (NYSE:PBA)

Key Points

• Cumberland Partners Ltd reduced its stake in Pembina Pipeline Corp. by 27.2% in the first quarter, now holding 76,543 shares valued at approximately $3,061,000.
• Several institutional investors have adjusted their positions, with Wealth Enhancement Advisory Services LLC increasing its holdings by 11.2% and Bank of Nova Scotia Trust Co. by 20.9%.
• Pembina Pipeline announced a quarterly dividend increase to $0.5109 per share, reflecting a dividend yield of 5.5%, up from the previous $0.48.

Cumberland Partners Ltd cut its stake in shares of Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL by 27.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 76,543 shares of the pipeline company's stock after selling 28,537 shares during the period. Cumberland Partners Ltd's holdings in Pembina Pipeline were worth $3,061,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. First Horizon Advisors Inc. grew its position in Pembina Pipeline by 69.9% during the first quarter. First Horizon Advisors Inc. now owns 673 shares of the pipeline company's stock worth $27,000 after buying an additional 277 shares in the last quarter. N.E.W. Advisory Services LLC bought a new stake in shares of Pembina Pipeline during the 1st quarter valued at $27,000. Larson Financial Group LLC grew its holdings in shares of Pembina Pipeline by 53.4% during the 1st quarter. Larson Financial Group LLC now owns 1,341 shares of the pipeline company's stock worth $54,000 after purchasing an additional 467 shares in the last quarter. Dunhill Financial LLC grew its holdings in shares of Pembina Pipeline by 100.0% during the 4th quarter. Dunhill Financial LLC now owns 1,350 shares of the pipeline company's stock worth $50,000 after purchasing an additional 675 shares in the last quarter. Finally, Versant Capital Management Inc increased its position in shares of Pembina Pipeline by 108.3% in the first quarter. Versant Capital Management Inc now owns 1,525 shares of the pipeline company's stock worth $61,000 after purchasing an additional 793 shares during the period. Institutional investors own 55.37% of the company's stock.

Pembina Pipeline Price Performance

Pembina Pipeline stock traded down $0.46 during midday trading on Wednesday, reaching $36.86. The company's stock had a trading volume of 1,486,680 shares, compared to its average volume of 1,325,527. The company has a current ratio of 0.64, a quick ratio of 0.52 and a debt-to-equity ratio of 0.75. The stock has a market cap of $21.41 billion, a PE ratio of 16.68 and a beta of 0.78. Pembina Pipeline Corp. has a 52 week low of $34.13 and a 52 week high of $43.44. The business has a 50-day moving average price of $37.26 and a 200-day moving average price of $37.55.

Pembina Pipeline (NYSE:PBA - Get Free Report) TSE: PPL last announced its quarterly earnings results on Thursday, May 8th. The pipeline company reported $0.80 earnings per share (EPS) 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 company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.47 billion. During the same period in the previous year, the firm posted $0.73 EPS. The firm's revenue was up 48.2% on a year-over-year basis. On average, sell-side analysts predict that Pembina Pipeline Corp. will post 2.15 EPS for the current year.

Pembina Pipeline Increases Dividend

The company 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. The ex-dividend date was Monday, June 16th. This represents a $2.04 dividend on an annualized basis and a yield of 5.5%. This is an increase from Pembina Pipeline's previous quarterly dividend of $0.48. Pembina Pipeline's dividend payout ratio is presently 93.67%.

Analyst Upgrades and Downgrades

PBA has been the subject of several recent analyst reports. Barclays reaffirmed an "overweight" rating on shares of Pembina Pipeline in a research report on Tuesday, June 3rd. Jefferies Financial Group cut shares of Pembina Pipeline from a "buy" rating to a "hold" rating in a research report on Wednesday, July 23rd. National Bankshares raised shares of Pembina Pipeline from a "sector perform" rating to an "outperform" rating in a report on Thursday, June 26th. Finally, National Bank Financial raised shares of Pembina Pipeline from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, June 25th. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average 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.