DORCHESTER WEALTH MANAGEMENT Co lowered its stake in Pembina Pipeline Corp (NYSE:PBA) (TSE:PPL) by 10.8% during the first quarter, HoldingsChannel reports. The institutional investor owned 48,889 shares of the pipeline company’s stock after selling 5,895 shares during the period. DORCHESTER WEALTH MANAGEMENT Co’s holdings in Pembina Pipeline were worth $1,796,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc lifted its stake in Pembina Pipeline by 2.3% in the third quarter. Vanguard Group Inc now owns 14,371,204 shares of the pipeline company’s stock valued at $488,477,000 after buying an additional 318,655 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Pembina Pipeline by 2.3% in the third quarter. Vanguard Group Inc. now owns 14,371,204 shares of the pipeline company’s stock worth $488,477,000 after purchasing an additional 318,655 shares in the last quarter. 1832 Asset Management L.P. lifted its position in shares of Pembina Pipeline by 8.2% in the fourth quarter. 1832 Asset Management L.P. now owns 11,731,502 shares of the pipeline company’s stock worth $348,415,000 after purchasing an additional 887,483 shares in the last quarter. Tortoise Capital Advisors L.L.C. lifted its position in shares of Pembina Pipeline by 5.5% in the third quarter. Tortoise Capital Advisors L.L.C. now owns 6,192,403 shares of the pipeline company’s stock worth $210,417,000 after purchasing an additional 321,250 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Pembina Pipeline by 11.7% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,754,940 shares of the pipeline company’s stock worth $141,033,000 after purchasing an additional 496,842 shares in the last quarter. 51.88% of the stock is currently owned by hedge funds and other institutional investors.
PBA has been the topic of a number of research reports. AltaCorp Capital reissued an “outperform” rating on shares of Pembina Pipeline in a research report on Wednesday, February 13th. Scotiabank reissued a “buy” rating on shares of Pembina Pipeline in a research report on Tuesday, February 5th. Macquarie reissued a “buy” rating on shares of Pembina Pipeline in a research report on Tuesday, February 5th. Finally, Zacks Investment Research lowered shares of Pembina Pipeline from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Pembina Pipeline presently has a consensus rating of “Buy” and an average target price of $40.00.
Shares of PBA opened at $37.37 on Wednesday. The firm has a market cap of $19.10 billion, a P/E ratio of 21.11, a PEG ratio of 3.13 and a beta of 0.91. Pembina Pipeline Corp has a 1-year low of $28.30 and a 1-year high of $37.93. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.55 and a current ratio of 0.68.
Pembina Pipeline (NYSE:PBA) (TSE:PPL) last issued its earnings results on Thursday, February 21st. The pipeline company reported $0.66 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.18. The business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.93 billion. Pembina Pipeline had a net margin of 16.90% and a return on equity of 10.86%. The firm’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the previous year, the company earned $0.83 earnings per share. On average, analysts predict that Pembina Pipeline Corp will post 2 earnings per share for the current year.
The company also recently announced a monthly dividend, which will be paid on Wednesday, May 15th. Investors of record on Thursday, April 25th will be issued a dividend of $0.142 per share. This represents a $1.70 dividend on an annualized basis and a yield of 4.56%. This is an increase from Pembina Pipeline’s previous monthly dividend of $0.13. The ex-dividend date is Wednesday, April 24th. Pembina Pipeline’s payout ratio is presently 97.74%.
TRADEMARK VIOLATION NOTICE: This piece was first posted by The Lincolnian Online and is owned by of The Lincolnian Online. If you are accessing this piece on another domain, it was copied illegally and reposted in violation of US & international copyright laws. The correct version of this piece can be read at https://www.thelincolnianonline.com/2019/04/17/pembina-pipeline-corp-pba-position-trimmed-by-dorchester-wealth-management-co.html.
Pembina Pipeline 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.
Recommended Story: What does relative strength index mean?
Want to see what other hedge funds are holding PBA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pembina Pipeline Corp (NYSE:PBA) (TSE:PPL).
Receive News & Ratings for Pembina Pipeline Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pembina Pipeline and related companies with MarketBeat.com's FREE daily email newsletter.