Pembina Pipeline (NYSE:PBA) Stock Price Down 2.8% - Here's What Happened

Pembina Pipeline Corp. (NYSE:PBA - Get Free Report) TSE: PPL's share price was down 2.8% during trading on Wednesday . The company traded as low as $36.48 and last traded at $36.87. Approximately 440,290 shares traded hands during mid-day trading, a decline of 66% from the average daily volume of 1,282,615 shares. The stock had previously closed at $37.93.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PBA. Citigroup raised shares of Pembina Pipeline from a "neutral" rating to a "buy" rating in a report on Monday, March 10th. Barclays reaffirmed an "overweight" rating on shares of Pembina Pipeline in a research report on Tuesday, June 3rd. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $56.00.

Pembina Pipeline Stock Performance

The company has a quick ratio of 0.52, a current ratio of 0.64 and a debt-to-equity ratio of 0.75. The stock has a fifty day moving average price of $37.75 and a 200-day moving average price of $37.66. The firm has a market cap of $21.41 billion, a price-to-earnings ratio of 16.65 and a beta of 0.76.

Pembina Pipeline (NYSE:PBA - Get Free Report) TSE: PPL last released its earnings results on Thursday, May 8th. The pipeline company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.23. The company had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.47 billion. Pembina Pipeline had a return on equity of 12.61% and a net margin of 23.73%. The firm's quarterly revenue was up 48.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.73 EPS. On average, analysts expect that Pembina Pipeline Corp. will post 2.15 earnings per share for the current fiscal year.

Pembina Pipeline Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be paid a dividend of $0.5109 per share. This represents a $2.04 annualized dividend and a dividend yield of 5.54%. The ex-dividend date is Monday, June 16th. This is an increase from Pembina Pipeline's previous quarterly dividend of $0.48. Pembina Pipeline's payout ratio is 93.67%.

Institutional Trading of Pembina Pipeline

A number of large investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. grew its position in Pembina Pipeline by 1.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 22,903 shares of the pipeline company's stock valued at $846,000 after acquiring an additional 348 shares during the period. Bank of Nova Scotia Trust Co. raised its holdings in Pembina Pipeline by 20.9% in the fourth quarter. Bank of Nova Scotia Trust Co. now owns 337,379 shares of the pipeline company's stock valued at $12,466,000 after buying an additional 58,366 shares during the period. Korea Investment CORP grew its stake in Pembina Pipeline by 32.7% during the fourth quarter. Korea Investment CORP now owns 440,818 shares of the pipeline company's stock worth $16,279,000 after buying an additional 108,529 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Pembina Pipeline by 0.5% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,249,624 shares of the pipeline company's stock worth $230,610,000 after acquiring an additional 32,519 shares in the last quarter. Finally, Aviso Financial Inc. lifted its holdings in shares of Pembina Pipeline by 10.5% during the 4th quarter. Aviso Financial Inc. now owns 115,035 shares of the pipeline company's stock valued at $4,249,000 after acquiring an additional 10,941 shares in the last quarter. Institutional investors and hedge funds own 55.37% of the company's stock.

Pembina Pipeline Company 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.

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