Addenda Capital Inc. Has $21.96 Million Stake in Pembina Pipeline Co. (NYSE:PBA)

Addenda Capital Inc. cut its stake in Pembina Pipeline Co. (NYSE:PBA - Free Report) TSE: PPL by 9.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 548,465 shares of the pipeline company's stock after selling 55,954 shares during the period. Pembina Pipeline comprises about 1.0% of Addenda Capital Inc.'s investment portfolio, making the stock its 26th largest position. Addenda Capital Inc. owned 0.09% of Pembina Pipeline worth $21,955,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Principal Securities Inc. grew its stake in shares of Pembina Pipeline by 2,597.1% during the 4th quarter. Principal Securities Inc. now owns 917 shares of the pipeline company's stock worth $34,000 after purchasing an additional 883 shares during the period. Venturi Wealth Management LLC increased its position in shares of Pembina Pipeline by 880.0% during the 4th quarter. Venturi Wealth Management LLC now owns 980 shares of the pipeline company's stock worth $36,000 after purchasing an additional 880 shares during the last quarter. VSM Wealth Advisory LLC acquired a new stake in shares of Pembina Pipeline during the 4th quarter worth about $37,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in Pembina Pipeline in the 4th quarter valued at about $40,000. Finally, Dunhill Financial LLC grew its position in shares of Pembina Pipeline by 100.0% during the fourth quarter. Dunhill Financial LLC now owns 1,350 shares of the pipeline company's stock worth $50,000 after buying an additional 675 shares in the last quarter. 55.37% of the stock is owned by hedge funds and other institutional investors.

Pembina Pipeline Trading Up 0.3%

PBA traded up $0.11 during midday trading on Thursday, hitting $37.88. The company's stock had a trading volume of 400,849 shares, compared to its average volume of 1,279,539. The company has a current ratio of 0.65, a quick ratio of 0.51 and a debt-to-equity ratio of 0.79. The firm has a market cap of $22.00 billion, a P/E ratio of 15.65 and a beta of 0.81. The firm has a 50-day moving average price of $37.80 and a two-hundred day moving average price of $37.95. Pembina Pipeline Co. has a 52-week low of $34.13 and a 52-week high of $43.44.

Pembina Pipeline (NYSE:PBA - Get Free Report) TSE: PPL last announced its earnings results on Thursday, May 8th. The pipeline company reported $0.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.57 by $0.23. Pembina Pipeline had a return on equity of 13.62% and a net margin of 25.39%. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.47 billion. During the same period in the prior year, the company posted $0.73 EPS. Pembina Pipeline's quarterly revenue was up 48.2% on a year-over-year basis. On average, research analysts anticipate that Pembina Pipeline Co. will post 2.15 earnings per share for the current year.

Pembina Pipeline Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be paid a $0.5109 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 5.39%. This is an increase from Pembina Pipeline's previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Monday, June 16th. Pembina Pipeline's dividend payout ratio (DPR) is presently 89.14%.

Analyst Ratings Changes

Separately, Citigroup raised Pembina Pipeline from a "neutral" rating to a "buy" rating in a report on Monday, March 10th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Pembina Pipeline presently has an average rating of "Moderate Buy" and a consensus price target of $56.00.

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.