Pembina Pipeline Corp. $PBA Shares Sold by Hillsdale Investment Management Inc.

Key Points

• Hillsdale Investment Management cut its Pembina Pipeline stake by 63.4% in the first quarter, selling 581,461 shares and leaving it with 335,664 shares worth about $15.0 million.
• Pembina Pipeline reported stronger-than-expected quarterly earnings, with EPS of $0.59 versus the $0.52 estimate and revenue of $1.11 billion, while analysts still see full-year EPS of 2.23.
• The company raised its quarterly dividend to $0.735 per share, implying a 5.9% annualized yield; meanwhile, analysts’ overall consensus remains Hold with an average target price of $64.00.

Hillsdale Investment Management Inc. trimmed its stake in Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL by 63.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 335,664 shares of the pipeline company's stock after selling 581,461 shares during the quarter. Hillsdale Investment Management Inc. owned about 0.06% of Pembina Pipeline worth $15,022,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Tobam acquired a new position in shares of Pembina Pipeline in the 4th quarter valued at $28,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Pembina Pipeline during the 3rd quarter valued at $31,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Pembina Pipeline during the 4th quarter worth $36,000. Larson Financial Group LLC increased its holdings in shares of Pembina Pipeline by 32.4% during the 3rd quarter. Larson Financial Group LLC now owns 1,059 shares of the pipeline company's stock worth $43,000 after buying an additional 259 shares during the last quarter. Finally, IFP Advisors Inc raised its position in shares of Pembina Pipeline by 74.8% in the 4th quarter. IFP Advisors Inc now owns 1,199 shares of the pipeline company's stock worth $46,000 after buying an additional 513 shares during the period. Institutional investors and hedge funds own 55.37% of the company's stock.

Pembina Pipeline Price Performance

Pembina Pipeline stock opened at $49.66 on Tuesday. Pembina Pipeline Corp. has a 52-week low of $35.45 and a 52-week high of $50.10. The firm has a fifty day moving average of $47.58 and a 200-day moving average of $44.23. The firm has a market capitalization of $28.87 billion, a P/E ratio of 25.86 and a beta of 0.57. The company has a quick ratio of 0.68, a current ratio of 0.83 and a debt-to-equity ratio of 0.84.

Pembina Pipeline (NYSE:PBA - Get Free Report) TSE: PPL last issued its earnings results on Thursday, May 7th. The pipeline company reported $0.59 EPS for the quarter, beating analysts' consensus estimates of $0.52 by $0.07. Pembina Pipeline had a net margin of 22.22% and a return on equity of 11.47%. The business had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter last year, the firm posted $0.80 EPS. The business's revenue for the quarter was down 7.7% compared to the same quarter last year. As a group, analysts predict that Pembina Pipeline Corp. will post 2.23 EPS for the current year.

Pembina Pipeline Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were paid a dividend of $0.735 per share. This is a boost from Pembina Pipeline's previous quarterly dividend of $0.71. This represents a $2.94 dividend on an annualized basis and a dividend yield of 5.9%. The ex-dividend date was Monday, June 15th. Pembina Pipeline's payout ratio is presently 110.94%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on PBA shares. BMO Capital Markets reiterated a "market perform" rating and issued a $68.00 target price on shares of Pembina Pipeline in a report on Friday, July 3rd. Royal Bank Of Canada upped their price target on Pembina Pipeline from $64.00 to $68.00 and gave the stock an "outperform" rating in a research note on Monday, May 11th. TD Securities upgraded Pembina Pipeline from a "hold" rating to a "buy" rating in a report on Tuesday, May 26th. Weiss Ratings restated a "buy (b)" rating on shares of Pembina Pipeline in a report on Tuesday, June 16th. Finally, Barclays reaffirmed an "overweight" rating on shares of Pembina Pipeline in a research note on Thursday, May 21st. Six research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Pembina Pipeline presently has a consensus rating of "Hold" and an average target price of $64.00.

Pembina Pipeline Company Profile

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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