Louisbourg Investments Inc. Reduces Stock Holdings in Pembina Pipeline Corp. $PBA

Louisbourg Investments Inc. cut its stake in shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 43.0% during the 1st quarter, HoldingsChannel.com reports. The fund owned 129,498 shares of the pipeline company’s stock after selling 97,840 shares during the period. Louisbourg Investments Inc.’s holdings in Pembina Pipeline were worth $5,785,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Cardinal Capital Management Inc. boosted its position in Pembina Pipeline by 10.0% in the 4th quarter. Cardinal Capital Management Inc. now owns 3,274,336 shares of the pipeline company’s stock valued at $124,621,000 after buying an additional 298,412 shares during the last quarter. TD Waterhouse Canada Inc. grew its position in shares of Pembina Pipeline by 2.5% in the 4th quarter. TD Waterhouse Canada Inc. now owns 1,703,413 shares of the pipeline company’s stock worth $64,798,000 after acquiring an additional 40,944 shares in the last quarter. Citigroup Inc. increased its stake in Pembina Pipeline by 96.3% during the third quarter. Citigroup Inc. now owns 216,975 shares of the pipeline company’s stock valued at $8,775,000 after purchasing an additional 106,419 shares during the last quarter. Sienna Gestion grew its position in shares of Pembina Pipeline by 1,412,500.0% during the 3rd quarter. Sienna Gestion now owns 339,024 shares of the pipeline company’s stock valued at $12,500,000 after buying an additional 339,000 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Pembina Pipeline by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 27,233,442 shares of the pipeline company’s stock valued at $1,037,512,000 after purchasing an additional 541,615 shares during the last quarter. Hedge funds and other institutional investors own 55.37% of the company’s stock.

Pembina Pipeline Price Performance

Shares of PBA opened at $47.18 on Friday. The company has a market capitalization of $27.43 billion, a price-to-earnings ratio of 24.57 and a beta of 0.57. Pembina Pipeline Corp. has a fifty-two week low of $35.45 and a fifty-two week high of $50.10. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.83 and a quick ratio of 0.68. The business’s 50-day moving average is $46.78 and its 200-day moving average is $43.49.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last posted its quarterly 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 business had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.06 billion. Pembina Pipeline had a net margin of 22.22% and a return on equity of 11.47%. The firm’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same period last year, the company posted $0.80 earnings per share. Equities research analysts expect that Pembina Pipeline Corp. will post 2.28 EPS for the current fiscal year.

Pembina Pipeline Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be given a $0.735 dividend. This represents a $2.94 dividend on an annualized basis and a yield of 6.2%. 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 currently 110.94%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. TD Securities raised shares of Pembina Pipeline from a “hold” rating to a “buy” rating in a report on Tuesday, May 26th. JPMorgan Chase & Co. increased their target price on shares of Pembina Pipeline from $55.00 to $60.00 and gave the company a “neutral” rating in a research note on Thursday, March 19th. Weiss Ratings reiterated a “buy (b)” rating on shares of Pembina Pipeline in a research report on Tuesday, June 16th. Wall Street Zen downgraded shares of Pembina Pipeline from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Pembina Pipeline in a research report on Tuesday, May 26th. Six equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $62.67.

Pembina Pipeline Company Profile

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.