Cumberland Partners Ltd Sells 31,534 Shares of Pembina Pipeline Corp. $PBA

Cumberland Partners Ltd trimmed its holdings in shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 22.1% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 111,322 shares of the pipeline company’s stock after selling 31,534 shares during the period. Cumberland Partners Ltd’s holdings in Pembina Pipeline were worth $4,968,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in PBA. Entropy Technologies LP purchased a new stake in shares of Pembina Pipeline in the 1st quarter worth approximately $625,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Pembina Pipeline during the first quarter valued at $54,551,000. Renaissance Technologies LLC boosted its holdings in Pembina Pipeline by 1,517.2% in the first quarter. Renaissance Technologies LLC now owns 445,764 shares of the pipeline company’s stock worth $19,952,000 after acquiring an additional 418,200 shares in the last quarter. Public Employees Retirement System of Ohio boosted its holdings in Pembina Pipeline by 1.7% in the first quarter. Public Employees Retirement System of Ohio now owns 40,493 shares of the pipeline company’s stock worth $1,808,000 after acquiring an additional 660 shares in the last quarter. Finally, Compound Planning Inc. purchased a new stake in shares of Pembina Pipeline in the first quarter worth $221,000. 55.37% of the stock is owned by institutional investors.

Pembina Pipeline Stock Up 0.3%

Pembina Pipeline stock opened at $51.37 on Friday. Pembina Pipeline Corp. has a 12 month low of $35.45 and a 12 month high of $51.58. The stock has a fifty day simple moving average of $48.33 and a two-hundred day simple moving average of $44.99. The company has a current ratio of 0.83, a quick ratio of 0.68 and a debt-to-equity ratio of 0.84. The firm has a market cap of $29.87 billion, a price-to-earnings ratio of 26.75 and a beta of 0.57.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last announced its quarterly earnings results on Thursday, May 7th. The pipeline company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.07. Pembina Pipeline had a return on equity of 11.47% and a net margin of 22.22%.The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the prior year, the company posted $0.80 earnings per share. The company’s quarterly revenue was down 7.7% on a year-over-year basis. Equities analysts predict that Pembina Pipeline Corp. will post 2.22 EPS for the current fiscal year.

Pembina Pipeline Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were given a $0.735 dividend. This is a positive change from Pembina Pipeline’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend was Monday, June 15th. This represents a $2.94 dividend on an annualized basis and a yield of 5.7%. Pembina Pipeline’s payout ratio is presently 110.94%.

Analysts Set New Price Targets

Several research firms have recently issued reports on PBA. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Pembina Pipeline in a research report on Friday, July 3rd. Wall Street Zen upgraded shares of Pembina Pipeline from a “sell” rating to a “hold” rating in a research note on Saturday. Scotiabank cut shares of Pembina Pipeline from a “sector outperform” rating to a “sector perform” rating in a report on Monday. Weiss Ratings cut shares of Pembina Pipeline from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, July 13th. Finally, BMO Capital Markets reiterated a “market perform” rating and set a $68.00 price target on shares of Pembina Pipeline in a report on Friday, July 3rd. Six equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $64.00.

Pembina Pipeline 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.