Mufg Securities Canada LTD. Reduces Stock Holdings in Pembina Pipeline Corp. $PBA

Mufg Securities Canada LTD. reduced its stake in shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 8.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 884,716 shares of the pipeline company’s stock after selling 76,573 shares during the quarter. Pembina Pipeline accounts for approximately 0.9% of Mufg Securities Canada LTD.’s holdings, making the stock its 29th largest holding. Mufg Securities Canada LTD. owned about 0.15% of Pembina Pipeline worth $33,713,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of PBA. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Pembina Pipeline during the 3rd quarter valued at about $31,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of Pembina Pipeline during the 4th quarter valued at about $36,000. Larson Financial Group LLC raised 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 valued at $43,000 after buying an additional 259 shares during the period. IFP Advisors Inc raised its holdings in shares of Pembina Pipeline by 74.8% during the 4th quarter. IFP Advisors Inc now owns 1,199 shares of the pipeline company’s stock valued at $46,000 after buying an additional 513 shares during the period. Finally, Fulcrum Asset Management LLP purchased a new stake in Pembina Pipeline during the 3rd quarter worth approximately $46,000. 55.37% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on PBA shares. Weiss Ratings upgraded Pembina Pipeline from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 2nd. TD Securities upgraded Pembina Pipeline from a “hold” rating to a “buy” rating in a report on Tuesday, May 26th. Wall Street Zen upgraded Pembina Pipeline from a “sell” rating to a “hold” rating in a report on Sunday, May 10th. Barclays restated an “overweight” rating on shares of Pembina Pipeline in a report on Thursday, May 21st. Finally, JPMorgan Chase & Co. lifted their price objective on Pembina Pipeline from $55.00 to $60.00 and gave the stock a “neutral” rating in a report on Thursday, March 19th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Pembina Pipeline presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.67.

Pembina Pipeline Price Performance

PBA stock opened at $48.33 on Monday. 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 Corp. has a 52-week low of $35.45 and a 52-week high of $50.10. The stock’s 50 day moving average is $46.27 and its two-hundred day moving average is $42.95. The company has a market capitalization of $28.10 billion, a PE ratio of 25.17 and a beta of 0.57.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last issued its earnings results on Thursday, May 7th. The pipeline company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.52 by $0.07. The company had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.06 billion. Pembina Pipeline had a return on equity of 11.47% and a net margin of 22.22%.The business’s revenue was down 7.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.80 EPS. Analysts predict that Pembina Pipeline Corp. will post 2.28 earnings per share for the current fiscal year.

Pembina Pipeline Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be given a $0.735 dividend. This represents a $2.94 annualized dividend and a dividend yield of 6.1%. The ex-dividend date is Monday, June 15th. This is a positive change from Pembina Pipeline’s previous quarterly dividend of $0.71. Pembina Pipeline’s payout ratio is 108.33%.

About Pembina Pipeline

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.