Pembina Pipeline Corp. (NYSE:PBA) Holdings Lowered by Mackenzie Financial Corp

Key Points

• Mackenzie Financial Corp reduced its stake in Pembina Pipeline Corp by 4.4%, now holding approximately 2.29% of the company valued at $532.6 million.
• Pembina Pipeline's stock has a consensus rating of "Moderate Buy" with a price target of $56.00, amid varying ratings from different analysts.
• The company recently raised its quarterly dividend to $0.5109, translating to an annualized yield of 5.56%, up from the previous $0.48.

Mackenzie Financial Corp trimmed its stake in shares of Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL by 4.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,316,934 shares of the pipeline company's stock after selling 613,913 shares during the quarter. Mackenzie Financial Corp owned about 2.29% of Pembina Pipeline worth $532,640,000 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. Wealth Enhancement Advisory Services LLC raised its position in shares of Pembina Pipeline by 11.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 18,182 shares of the pipeline company's stock worth $728,000 after buying an additional 1,824 shares in the last quarter. Bank of Nova Scotia Trust Co. raised its holdings in shares of Pembina Pipeline by 20.9% in the 4th quarter. Bank of Nova Scotia Trust Co. now owns 337,379 shares of the pipeline company's stock worth $12,466,000 after purchasing an additional 58,366 shares in the last quarter. Catalyst Capital Advisors LLC raised its holdings in shares of Pembina Pipeline by 18.0% in the 1st quarter. Catalyst Capital Advisors LLC now owns 445,057 shares of the pipeline company's stock worth $17,816,000 after purchasing an additional 67,797 shares in the last quarter. Korea Investment CORP raised its holdings in shares of Pembina Pipeline by 32.7% in the 4th quarter. Korea Investment CORP now owns 440,818 shares of the pipeline company's stock worth $16,279,000 after purchasing an additional 108,529 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Pembina Pipeline in the 4th quarter worth approximately $459,000. 55.37% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on PBA. Jefferies Financial Group downgraded shares of Pembina Pipeline from a "buy" rating to a "hold" rating in a report on Wednesday, July 23rd. National Bank Financial upgraded shares of Pembina Pipeline from a "hold" rating to a "strong-buy" rating in a report on Wednesday, June 25th. National Bankshares upgraded shares of Pembina Pipeline from a "sector perform" rating to an "outperform" rating in a report on Thursday, June 26th. Finally, Barclays restated an "overweight" rating on shares of Pembina Pipeline in a report on Tuesday, June 3rd. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $56.00.

Pembina Pipeline Stock Down 1.0%

PBA stock opened at $36.73 on Monday. Pembina Pipeline Corp. has a 52-week low of $34.13 and a 52-week high of $43.44. The company's 50 day simple moving average is $37.31 and its 200-day simple moving average is $37.54. 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 firm has a market capitalization of $21.34 billion, a P/E ratio of 16.62 and a beta of 0.76.

Pembina Pipeline (NYSE:PBA - Get Free Report) TSE: PPL last released its quarterly earnings data on Thursday, May 8th. The pipeline company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.23. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.47 billion. Pembina Pipeline had a net margin of 23.73% and a return on equity of 12.61%. The company's revenue for the quarter was up 48.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.73 EPS. As a group, equities research analysts anticipate that Pembina Pipeline Corp. will post 2.15 EPS for the current year.

Pembina Pipeline Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were paid a $0.5109 dividend. This represents a $2.04 annualized dividend and a yield of 5.56%. The ex-dividend date was Monday, June 16th. This is a positive change from Pembina Pipeline's previous quarterly dividend of $0.48. Pembina Pipeline's dividend payout ratio is currently 93.67%.

About Pembina Pipeline

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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