Lincluden Management Ltd. decreased its stake in shares of Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL by 1.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 759,407 shares of the pipeline company's stock after selling 12,128 shares during the quarter. Pembina Pipeline makes up 3.9% of Lincluden Management Ltd.'s portfolio, making the stock its 8th largest position. Lincluden Management Ltd. owned 0.13% of Pembina Pipeline worth $30,376,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. lifted its holdings in Pembina Pipeline by 69.9% during the 1st quarter. First Horizon Advisors Inc. now owns 673 shares of the pipeline company's stock valued at $27,000 after buying an additional 277 shares in the last quarter. Larson Financial Group LLC raised its holdings in shares of Pembina Pipeline by 53.4% in the 1st quarter. Larson Financial Group LLC now owns 1,341 shares of the pipeline company's stock valued at $54,000 after purchasing an additional 467 shares in the last quarter. Dunhill Financial LLC raised its holdings in shares of Pembina Pipeline by 100.0% in the 4th quarter. Dunhill Financial LLC now owns 1,350 shares of the pipeline company's stock valued at $50,000 after purchasing an additional 675 shares in the last quarter. Versant Capital Management Inc raised its holdings in shares of Pembina Pipeline by 108.3% in the 1st quarter. Versant Capital Management Inc now owns 1,525 shares of the pipeline company's stock valued at $61,000 after purchasing an additional 793 shares in the last quarter. Finally, Headlands Technologies LLC raised its holdings in shares of Pembina Pipeline by 23.2% in the 4th quarter. Headlands Technologies LLC now owns 1,769 shares of the pipeline company's stock valued at $65,000 after purchasing an additional 333 shares in the last quarter. Institutional investors own 55.37% of the company's stock.
Analysts Set New Price Targets
Several equities research analysts have recently commented on PBA shares. Jefferies Financial Group lowered shares of Pembina Pipeline from a "buy" rating to a "hold" rating in a report on Wednesday. National Bank Financial raised shares of Pembina Pipeline from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, June 25th. Barclays reaffirmed an "overweight" rating on shares of Pembina Pipeline in a research report on Tuesday, June 3rd. Finally, National Bankshares raised shares of Pembina Pipeline from a "sector perform" rating to an "outperform" rating in a research report on Thursday, June 26th. Three equities research 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 company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $56.00.
Read Our Latest Analysis on Pembina Pipeline
Pembina Pipeline Stock Performance
NYSE:PBA traded down $0.36 during trading hours on Friday, hitting $36.73. 1,493,734 shares of the company were exchanged, compared to its average volume of 988,299. The stock has a market capitalization of $21.34 billion, a price-to-earnings ratio of 16.62 and a beta of 0.76. 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. The company's 50 day moving average price is $37.31 and its 200-day moving average price is $37.53.
Pembina Pipeline (NYSE:PBA - Get Free Report) TSE: PPL last released its earnings results on Thursday, May 8th. The pipeline company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.23. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.47 billion. Pembina Pipeline had a net margin of 23.73% and a return on equity of 12.61%. Pembina Pipeline's revenue was up 48.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.73 EPS. As a group, research analysts forecast that Pembina Pipeline Corp. will post 2.15 earnings per share for the current year.
Pembina Pipeline Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were issued a $0.5109 dividend. This is an increase from Pembina Pipeline's previous quarterly dividend of $0.48. This represents a $2.04 annualized dividend and a dividend yield of 5.56%. The ex-dividend date of this dividend was Monday, June 16th. Pembina Pipeline's dividend payout ratio is 93.67%.
Pembina Pipeline Company Profile
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Free Report)
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.
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