Swiss National Bank Trims Stock Holdings in Pembina Pipeline Corp. (NYSE:PBA)

Key Points

• The Swiss National Bank reduced its stake in Pembina Pipeline Corp. by 1.9%, selling 32,300 shares to own 1,652,096 shares worth approximately $66.13 million.
• Pembina Pipeline recently declared an increased quarterly dividend of $0.71 per share, up from $0.51, resulting in an annualized yield of 8.0%.
• The company reported an EPS of $0.80 for the latest quarter, exceeding analysts' expectations, while quarterly revenues were $1.14 billion, below the anticipated $1.47 billion.

Swiss National Bank cut its stake in shares of Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL by 1.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,652,096 shares of the pipeline company's stock after selling 32,300 shares during the period. Swiss National Bank owned 0.28% of Pembina Pipeline worth $66,130,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Maryland State Retirement & Pension System raised its position in Pembina Pipeline by 1.1% during the first quarter. Maryland State Retirement & Pension System now owns 739,229 shares of the pipeline company's stock valued at $29,561,000 after purchasing an additional 8,366 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Pembina Pipeline by 1.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,571,245 shares of the pipeline company's stock valued at $62,839,000 after buying an additional 25,265 shares during the last quarter. ASR Vermogensbeheer N.V. bought a new position in shares of Pembina Pipeline during the first quarter valued at approximately $3,050,000. Vanguard Group Inc. grew its stake in shares of Pembina Pipeline by 1.6% during the first quarter. Vanguard Group Inc. now owns 25,296,456 shares of the pipeline company's stock valued at $1,011,833,000 after buying an additional 409,379 shares during the last quarter. Finally, Westwood Holdings Group Inc. grew its stake in shares of Pembina Pipeline by 25.2% during the first quarter. Westwood Holdings Group Inc. now owns 1,428,833 shares of the pipeline company's stock valued at $57,196,000 after buying an additional 288,003 shares during the last quarter. 55.37% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Raymond James Financial reaffirmed an "outperform" rating on shares of Pembina Pipeline in a research note on Monday. National Bank Financial raised Pembina Pipeline from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, June 25th. BMO Capital Markets reiterated an "outperform" rating on shares of Pembina Pipeline in a report on Monday. Wells Fargo & Company lowered Pembina Pipeline from a "hold" rating to a "strong sell" rating in a report on Wednesday, August 6th. Finally, Jefferies Financial Group lowered Pembina Pipeline from a "buy" rating to a "hold" rating in a report on Wednesday, July 23rd. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Pembina Pipeline presently has an average rating of "Moderate Buy" and a consensus price target of $56.00.

Pembina Pipeline Stock Performance

PBA stock traded up $0.08 during midday trading on Friday, reaching $36.78. The stock had a trading volume of 126,719 shares, compared to its average volume of 1,314,161. The stock has a market cap of $21.36 billion, a PE ratio of 17.27 and a beta of 0.78. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.62 and a current ratio of 0.77. The firm has a fifty day simple moving average of $37.07 and a two-hundred day simple moving average of $37.50. Pembina Pipeline Corp. has a 52-week low of $34.13 and a 52-week high of $43.44.

Pembina Pipeline Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be paid a $0.71 dividend. This is a positive change from Pembina Pipeline's previous quarterly dividend of $0.51. The ex-dividend date is Monday, September 15th. This represents a $2.84 dividend on an annualized basis and a yield of 7.7%. Pembina Pipeline's dividend payout ratio (DPR) is 97.18%.

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.