Pembina Pipeline Corp. $PBA Position Cut by Recurrent Investment Advisors LLC

Key Points

• Recurrent Investment Advisors trimmed its stake in Pembina Pipeline by 8.2% in Q3, holding 1,699,083 shares (about $69.0M or 0.29% of the company) and making Pembina its sixth-largest holding.
• Pembina declared a quarterly dividend of $0.71 (payable Mar 31, ex-dividend Mar 16), which annualizes to $2.84 for a ~6.4% yield and a payout ratio of 106.84%.
• In the most recent quarter Pembina reported $0.56 EPS (beating estimates by $0.06) while revenue fell 10.8% to $1.02B (below expectations), and analysts currently rate the stock an average of "Hold" with a ~$60 price target.

Recurrent Investment Advisors LLC trimmed its position in shares of Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL by 8.2% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,699,083 shares of the pipeline company's stock after selling 152,081 shares during the period. Pembina Pipeline makes up about 5.3% of Recurrent Investment Advisors LLC's holdings, making the stock its 6th largest holding. Recurrent Investment Advisors LLC owned about 0.29% of Pembina Pipeline worth $69,007,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Westside Investment Management Inc. grew its stake in shares of Pembina Pipeline by 100.0% in the third quarter. Westside Investment Management Inc. now owns 808 shares of the pipeline company's stock valued at $32,000 after buying an additional 404 shares in the last quarter. Physician Wealth Advisors Inc. lifted its stake in Pembina Pipeline by 441.2% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 920 shares of the pipeline company's stock worth $37,000 after acquiring an additional 750 shares in the last quarter. Golden State Wealth Management LLC purchased a new position in Pembina Pipeline during the 3rd quarter valued at about $40,000. Mather Group LLC. purchased a new position in Pembina Pipeline during the 3rd quarter valued at about $45,000. Finally, State of Wyoming acquired a new position in Pembina Pipeline in the 2nd quarter valued at about $58,000. 55.37% of the stock is currently owned by hedge funds and other institutional investors.

Pembina Pipeline Price Performance

Shares of NYSE PBA opened at $44.51 on Friday. The stock's 50-day moving average is $41.72 and its two-hundred day moving average is $39.66. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.61 and a quick ratio of 0.47. Pembina Pipeline Corp. has a 1-year low of $34.13 and a 1-year high of $45.09. The company has a market cap of $25.86 billion, a price-to-earnings ratio of 23.43 and a beta of 0.68.

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

Pembina Pipeline Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 16th will be paid a $0.71 dividend. The ex-dividend date is Monday, March 16th. This represents a $2.84 dividend on an annualized basis and a yield of 6.4%. Pembina Pipeline's payout ratio is currently 106.84%.

Analyst Ratings Changes

A number of brokerages have issued reports on PBA. Zacks Research upgraded shares of Pembina Pipeline from a "strong sell" rating to a "hold" rating in a research note on Friday, January 23rd. BMO Capital Markets reissued a "market perform" rating on shares of Pembina Pipeline in a research note on Friday, February 27th. TD Securities cut shares of Pembina Pipeline from a "buy" rating to a "hold" rating in a report on Tuesday, February 17th. Finally, Weiss Ratings raised shares of Pembina Pipeline from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, March 2nd. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average 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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