Duff & Phelps Investment Management Co. Has $39.08 Million Position in Pembina Pipeline Corp. $PBA

Key Points

• Duff & Phelps reduced its stake in Pembina Pipeline by 32.3% in Q3, now holding 966,286 shares valued at $39.08 million (about 0.17% of the company).
• Pembina posted an EPS beat of $0.56 vs. $0.50 but revenue fell 10.8% to $1.02 billion and missed expectations, while analysts' consensus rating is a Hold with an average price target of $60.00.
• The company announced a quarterly dividend of $0.71 (annualized $2.84) for a ~6.4% yield, though the dividend payout ratio is elevated at 106.84%.

Duff & Phelps Investment Management Co. lessened its position in Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL by 32.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 966,286 shares of the pipeline company's stock after selling 461,730 shares during the period. Duff & Phelps Investment Management Co. owned approximately 0.17% of Pembina Pipeline worth $39,079,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of PBA. AQR Capital Management LLC bought a new position in shares of Pembina Pipeline during the first quarter worth $374,000. Focus Partners Wealth bought a new stake in shares of Pembina Pipeline in the 1st quarter valued at $312,000. Bank of New York Mellon Corp increased its position in shares of Pembina Pipeline by 6.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 527,642 shares of the pipeline company's stock valued at $19,792,000 after buying an additional 30,613 shares in the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in Pembina Pipeline during the 2nd quarter worth $304,000. Finally, ProShare Advisors LLC raised its stake in Pembina Pipeline by 5.6% during the 2nd quarter. ProShare Advisors LLC now owns 61,514 shares of the pipeline company's stock worth $2,310,000 after buying an additional 3,242 shares during the period. 55.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PBA has been the subject of a number of research analyst reports. Zacks Research raised Pembina Pipeline from a "strong sell" rating to a "hold" rating in a research note on Friday, January 23rd. BMO Capital Markets reaffirmed a "market perform" rating on shares of Pembina Pipeline in a research report on Friday, February 27th. Weiss Ratings upgraded Pembina Pipeline from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, March 2nd. Finally, TD Securities cut Pembina Pipeline from a "buy" rating to a "hold" rating in a research note on Tuesday, February 17th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $60.00.

Pembina Pipeline Trading Down 0.2%

PBA opened at $44.52 on Thursday. The stock has a market capitalization of $25.87 billion, a P/E ratio of 23.43 and a beta of 0.68. The company has a current ratio of 0.61, a quick ratio of 0.47 and a debt-to-equity ratio of 0.80. Pembina Pipeline Corp. has a 12 month low of $34.13 and a 12 month high of $45.09. The firm's fifty day simple moving average is $41.59 and its 200 day simple moving average is $39.62.

Pembina Pipeline (NYSE:PBA - Get Free Report) TSE: PPL last released its earnings results on Thursday, February 26th. The pipeline company reported $0.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.50 by $0.06. Pembina Pipeline had a return on equity of 11.17% and a net margin of 21.76%.The firm had revenue of $1.02 billion during the quarter, compared to analysts' expectations of $1.41 billion. During the same quarter in the prior year, the company earned $0.92 EPS. The company's revenue was down 10.8% on a year-over-year basis. As a group, research analysts anticipate that Pembina Pipeline Corp. will post 2.15 EPS for the current fiscal year.

Pembina Pipeline Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 6.4%. The ex-dividend date of this dividend is Monday, March 16th. Pembina Pipeline's dividend payout ratio is currently 106.84%.

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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