First Trust Advisors LP Has $46.04 Million Stock Holdings in Pembina Pipeline Corp. $PBA

Key Points

• First Trust Advisors LP trimmed its stake in Pembina Pipeline by 8.8% in Q3, selling 110,001 shares and now holds 1,137,975 shares (about 0.20% of the company) valued at roughly $46.04 million.
• Pembina beat EPS estimates with $0.56 for the quarter but saw revenue decline 10.8% year-over-year, and it declared a $0.71 quarterly dividend (annualized $2.84) yielding 6.4% while carrying a high dividend payout ratio of 106.84%, which may raise sustainability concerns.
• Analysts' consensus rating is a "Hold" with a $60 average price target, reflecting mixed analyst views ranging from Strong Buy to Sell.

First Trust Advisors LP trimmed its holdings in Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL by 8.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,137,975 shares of the pipeline company's stock after selling 110,001 shares during the period. First Trust Advisors LP owned about 0.20% of Pembina Pipeline worth $46,035,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. PJT Investments Corp. lifted its position in Pembina Pipeline by 1.3% in the 3rd quarter. PJT Investments Corp. now owns 257,837 shares of the pipeline company's stock valued at $10,432,000 after acquiring an additional 3,198 shares in the last quarter. Orion Porfolio Solutions LLC bought a new stake in Pembina Pipeline during the 3rd quarter worth approximately $211,000. Dimensional Fund Advisors LP increased its holdings in Pembina Pipeline by 61.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,328,709 shares of the pipeline company's stock worth $94,207,000 after purchasing an additional 887,413 shares in the last quarter. Aviso Financial Inc. raised its stake in shares of Pembina Pipeline by 89.3% in the third quarter. Aviso Financial Inc. now owns 43,251 shares of the pipeline company's stock worth $1,749,000 after purchasing an additional 20,403 shares during the last quarter. Finally, Harvest Portfolios Group Inc. lifted its holdings in shares of Pembina Pipeline by 17.9% in the third quarter. Harvest Portfolios Group Inc. now owns 386,686 shares of the pipeline company's stock valued at $15,635,000 after purchasing an additional 58,714 shares in the last quarter. 55.37% of the stock is owned by institutional investors.

Pembina Pipeline Price Performance

Shares of NYSE PBA opened at $44.52 on Thursday. The company has a market capitalization of $25.87 billion, a PE ratio of 23.43 and a beta of 0.68. The company has a quick ratio of 0.47, a current ratio of 0.61 and a debt-to-equity ratio of 0.80. The stock's 50 day moving average price is $41.59 and its 200-day moving average price is $39.62. Pembina Pipeline Corp. has a twelve month low of $34.13 and a twelve month high of $45.09.

Pembina Pipeline (NYSE:PBA - Get Free Report) TSE: PPL last issued its quarterly earnings results on Thursday, February 26th. The pipeline company reported $0.56 EPS for the quarter, beating analysts' consensus estimates of $0.50 by $0.06. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.41 billion. Pembina Pipeline had a return on equity of 11.17% and a net margin of 21.76%.Pembina Pipeline's revenue was down 10.8% on a year-over-year basis. During the same period last year, the business posted $0.92 earnings per share. On average, equities analysts anticipate that Pembina Pipeline Corp. will post 2.15 EPS for the current year.

Pembina Pipeline Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Monday, March 16th. This represents a $2.84 annualized dividend and a dividend yield of 6.4%. Pembina Pipeline's dividend payout ratio (DPR) is currently 106.84%.

Analysts Set New Price Targets

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

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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