Fmr LLC cut its holdings in shares of Pembina Pipeline Corp (NYSE:PBA) (TSE:PPL) by 88.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 280,191 shares of the pipeline company’s stock after selling 2,181,528 shares during the period. Fmr LLC owned 0.06% of Pembina Pipeline worth $9,704,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Tortoise Capital Advisors L.L.C. purchased a new position in shares of Pembina Pipeline during the second quarter valued at approximately $203,334,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Pembina Pipeline by 105.7% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,554,569 shares of the pipeline company’s stock valued at $157,642,000 after buying an additional 2,340,323 shares during the period. Toronto Dominion Bank increased its stake in shares of Pembina Pipeline by 53.8% during the second quarter. Toronto Dominion Bank now owns 4,049,255 shares of the pipeline company’s stock valued at $140,371,000 after buying an additional 1,415,657 shares during the period. NN Investment Partners Holdings N.V. increased its stake in shares of Pembina Pipeline by 1,383.0% during the second quarter. NN Investment Partners Holdings N.V. now owns 3,721,470 shares of the pipeline company’s stock valued at $128,762,000 after buying an additional 3,470,534 shares during the period. Finally, Great West Life Assurance Co. Can increased its stake in shares of Pembina Pipeline by 1.7% during the second quarter. Great West Life Assurance Co. Can now owns 3,645,448 shares of the pipeline company’s stock valued at $126,640,000 after buying an additional 62,411 shares during the period. 46.93% of the stock is currently owned by hedge funds and other institutional investors.
NYSE PBA opened at $34.97 on Tuesday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.41 and a current ratio of 0.58. Pembina Pipeline Corp has a twelve month low of $29.28 and a twelve month high of $36.99. The company has a market cap of $17.20 billion, a P/E ratio of 26.29, a PEG ratio of 3.29 and a beta of 0.64.
Pembina Pipeline (NYSE:PBA) (TSE:PPL) last released its quarterly earnings results on Thursday, August 2nd. The pipeline company reported $0.33 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.07). Pembina Pipeline had a net margin of 17.40% and a return on equity of 10.09%. The firm had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.21 billion. Research analysts predict that Pembina Pipeline Corp will post 1.72 EPS for the current fiscal year.
The company also recently declared a monthly dividend, which will be paid on Thursday, November 15th. Investors of record on Thursday, October 25th will be given a dividend of $0.1472 per share. The ex-dividend date is Wednesday, October 24th. This is a positive change from Pembina Pipeline’s previous monthly dividend of $0.15. This represents a $1.77 annualized dividend and a dividend yield of 5.05%. Pembina Pipeline’s payout ratio is currently 131.58%.
Several equities analysts have recently issued reports on the company. ValuEngine cut Pembina Pipeline from a “hold” rating to a “sell” rating in a research note on Tuesday, September 4th. Zacks Investment Research cut Pembina Pipeline from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 9th.
Pembina Pipeline Company Profile
Pembina Pipeline Corporation provides transportation and midstream services for the energy industry in North America. It operates through three divisions: Pipelines, Facilities, and Marketing & New Ventures. The company operates approximately 10,000 kilometers of pipeline network that transports hydrocarbon liquids and extends across Alberta and parts of British Columbia, Saskatchewan, and North Dakota; and owns and operates the Nipisi and Mitsue pipelines, which provide transportation for producers operating in the Pelican Lake and Peace River heavy oil regions of Alberta; transports synthetic crude oil for the Syncrude project and the Horizon project to delivery points near Edmonton, Alberta; and operates Cheecham Lateral, which transports synthetic crude to oil sands producers operating southeast of Fort McMurray, Alberta.
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