Fiera Capital Corp Cuts Holdings in Pembina Pipeline Corp. (NYSE:PBA)

Key Points

• Fiera Capital Corp reduced its stake in Pembina Pipeline Corp by 6%, now holding approximately $42.01 million worth of its shares after selling 66,545 shares.
• Pembina Pipeline recently announced an increase in its quarterly dividend to $0.5109 per share, yielding 5.55% annually, with a payout ratio of 93.67%.
• In its latest earnings report, Pembina Pipeline reported earnings of $0.80 per share, exceeding estimates, with quarterly revenue of $1.14 billion—48.2% higher year-over-year.

Fiera Capital Corp trimmed its holdings in Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL by 6.0% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 1,049,257 shares of the pipeline company's stock after selling 66,545 shares during the quarter. Fiera Capital Corp owned about 0.18% of Pembina Pipeline worth $42,011,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Deutsche Bank AG increased its stake in Pembina Pipeline by 3.0% in the 4th quarter. Deutsche Bank AG now owns 14,247,662 shares of the pipeline company's stock worth $526,451,000 after acquiring an additional 413,373 shares during the last quarter. Mackenzie Financial Corp increased its stake in Pembina Pipeline by 10.6% in the 4th quarter. Mackenzie Financial Corp now owns 13,930,847 shares of the pipeline company's stock worth $514,154,000 after acquiring an additional 1,331,294 shares during the last quarter. TD Asset Management Inc increased its stake in Pembina Pipeline by 2.4% in the 1st quarter. TD Asset Management Inc now owns 6,950,836 shares of the pipeline company's stock worth $277,985,000 after acquiring an additional 161,114 shares during the last quarter. Scotia Capital Inc. increased its stake in Pembina Pipeline by 1.7% in the 4th quarter. Scotia Capital Inc. now owns 4,969,977 shares of the pipeline company's stock worth $183,596,000 after acquiring an additional 85,121 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Pembina Pipeline during the 4th quarter valued at approximately $171,860,000. 55.37% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on PBA. Jefferies Financial Group downgraded Pembina Pipeline from a "buy" rating to a "hold" rating in a research report on Wednesday, July 23rd. National Bank Financial upgraded Pembina Pipeline from a "hold" rating to a "strong-buy" rating in a report on Wednesday, June 25th. Barclays reiterated an "overweight" rating on shares of Pembina Pipeline in a report on Tuesday, June 3rd. Finally, National Bankshares upgraded Pembina Pipeline from a "sector perform" rating to an "outperform" rating in a research note on Thursday, June 26th. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Pembina Pipeline has an average rating of "Moderate Buy" and an average target price of $56.00.

Pembina Pipeline Trading Up 0.1%

Shares of NYSE PBA traded up $0.04 during trading on Friday, reaching $37.23. The stock had a trading volume of 357,197 shares, compared to its average volume of 1,330,565. Pembina Pipeline Corp. has a fifty-two week low of $34.13 and a fifty-two week high of $43.44. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.52 and a current ratio of 0.64. The business's 50-day moving average price is $37.28 and its 200-day moving average price is $37.54. The company has a market cap of $21.62 billion, a P/E ratio of 16.83 and a beta of 0.76.

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, topping analysts' consensus estimates of $0.57 by $0.23. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.47 billion. Pembina Pipeline had a return on equity of 12.61% and a net margin of 23.73%. Pembina Pipeline's revenue for the quarter was up 48.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.73 EPS. On average, equities research analysts predict that Pembina Pipeline Corp. will post 2.15 EPS for the current fiscal year.

Pembina Pipeline Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were issued a $0.5109 dividend. The ex-dividend date was Monday, June 16th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 5.5%. This is an increase from Pembina Pipeline's previous quarterly dividend of $0.48. Pembina Pipeline's payout ratio is currently 93.67%.

Pembina Pipeline Profile

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.