Deutsche Bank AG Lowers Position in Pembina Pipeline Corp. (NYSE:PBA)

Key Points

• Deutsche Bank AG has reduced its holdings in Pembina Pipeline Corp. by 7.5%, now owning approximately 13.18 million shares valued at $527.69 million.
• Pembina Pipeline reported earnings of $0.80 EPS for the last quarter, surpassing analyst expectations, with revenue reaching $1.14 billion.
• The company increased its quarterly dividend to $0.5109 per share, resulting in an annualized dividend of $2.04 with a yield of 5.5%.

Deutsche Bank AG trimmed its holdings in Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL by 7.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,182,287 shares of the pipeline company's stock after selling 1,065,375 shares during the quarter. Deutsche Bank AG owned about 2.27% of Pembina Pipeline worth $527,687,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. First Horizon Advisors Inc. grew its holdings in shares of Pembina Pipeline by 69.9% in the first quarter. First Horizon Advisors Inc. now owns 673 shares of the pipeline company's stock valued at $27,000 after acquiring an additional 277 shares in the last quarter. JCIC Asset Management Inc. grew its holdings in shares of Pembina Pipeline by 6.8% in the first quarter. JCIC Asset Management Inc. now owns 5,133 shares of the pipeline company's stock valued at $205,000 after acquiring an additional 325 shares in the last quarter. Hexagon Capital Partners LLC grew its holdings in shares of Pembina Pipeline by 17.0% in the first quarter. Hexagon Capital Partners LLC now owns 2,397 shares of the pipeline company's stock valued at $96,000 after acquiring an additional 349 shares in the last quarter. Albert D Mason Inc. grew its holdings in shares of Pembina Pipeline by 1.0% in the first quarter. Albert D Mason Inc. now owns 43,073 shares of the pipeline company's stock valued at $1,724,000 after acquiring an additional 426 shares in the last quarter. Finally, NewEdge Advisors LLC grew its holdings in shares of Pembina Pipeline by 4.5% in the fourth quarter. NewEdge Advisors LLC now owns 9,883 shares of the pipeline company's stock valued at $365,000 after acquiring an additional 430 shares in the last quarter. 55.37% of the stock is owned by institutional investors and hedge funds.

Pembina Pipeline Stock Performance

Shares of NYSE:PBA traded down $1.35 during trading on Friday, hitting $35.54. 1,792,792 shares of the company were exchanged, compared to its average volume of 930,350. The company has a market cap of $20.65 billion, a PE ratio of 16.69 and a beta of 0.78. The stock has a 50 day moving average of $37.20 and a 200 day moving average of $37.52. Pembina Pipeline Corp. has a 52-week low of $34.13 and a 52-week high of $43.44. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.64 and a quick ratio of 0.52.

Pembina Pipeline (NYSE:PBA - Get Free Report) TSE: PPL last posted its earnings results on Thursday, May 8th. The pipeline company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.23. The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.47 billion. Pembina Pipeline had a return on equity of 12.26% and a net margin of 23.24%. 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, equities research analysts predict that Pembina Pipeline Corp. will post 2.15 EPS for the current year.

Pembina Pipeline Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 8.0%. This is an increase from Pembina Pipeline's previous quarterly dividend of $0.51. Pembina Pipeline's dividend payout ratio (DPR) is 93.67%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. National Bank Financial upgraded Pembina Pipeline from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, June 25th. Wells Fargo & Company downgraded Pembina Pipeline from a "hold" rating to a "strong sell" rating in a research note on Wednesday. Barclays reiterated an "overweight" rating on shares of Pembina Pipeline in a research note on Tuesday, June 3rd. National Bankshares upgraded Pembina Pipeline from a "sector perform" rating to an "outperform" rating in a research note on Thursday, June 26th. Finally, Jefferies Financial Group downgraded Pembina Pipeline from a "buy" rating to a "hold" rating in a research note on Wednesday, July 23rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Pembina Pipeline currently 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.