Commonwealth Equity Services LLC lessened its stake in shares of Pembina Pipeline Co. (NYSE:PBA – Get Rating) (TSE:PPL) by 0.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 193,626 shares of the pipeline company’s stock after selling 442 shares during the period. Commonwealth Equity Services LLC’s holdings in Pembina Pipeline were worth $6,573,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pictet Asset Management SA increased its position in Pembina Pipeline by 15.2% during the 3rd quarter. Pictet Asset Management SA now owns 286,670 shares of the pipeline company’s stock valued at $8,754,000 after buying an additional 37,900 shares in the last quarter. Maryland State Retirement & Pension System bought a new position in Pembina Pipeline during the 4th quarter valued at approximately $6,518,000. Oppenheimer Asset Management Inc. increased its position in Pembina Pipeline by 7.6% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 17,108 shares of the pipeline company’s stock valued at $520,000 after buying an additional 1,203 shares in the last quarter. Old North State Trust LLC increased its position in Pembina Pipeline by 96,400.0% during the 3rd quarter. Old North State Trust LLC now owns 5,790 shares of the pipeline company’s stock valued at $176,000 after buying an additional 5,784 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in Pembina Pipeline by 0.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,834,867 shares of the pipeline company’s stock valued at $56,050,000 after purchasing an additional 15,960 shares during the last quarter. Institutional investors own 55.08% of the company’s stock.
Analyst Ratings Changes
Several analysts have commented on the company. CIBC increased their target price on Pembina Pipeline from C$52.00 to C$53.00 in a research note on Monday, February 27th. Credit Suisse Group cut their target price on Pembina Pipeline from C$54.00 to C$53.00 in a research note on Wednesday, April 5th. StockNews.com assumed coverage on Pembina Pipeline in a research note on Thursday, March 16th. They set a “hold” rating on the stock. Scotiabank increased their target price on Pembina Pipeline from C$50.00 to C$51.00 in a research note on Monday, February 27th. Finally, National Bank Financial increased their target price on Pembina Pipeline from C$46.00 to C$47.00 in a research note on Friday, January 27th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $51.17.
Pembina Pipeline Stock Performance
Pembina Pipeline (NYSE:PBA – Get Rating) (TSE:PPL) last released its quarterly earnings results on Thursday, February 23rd. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.23). Pembina Pipeline had a return on equity of 14.59% and a net margin of 26.15%. The firm had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.46 billion. On average, equities analysts forecast that Pembina Pipeline Co. will post 2.07 earnings per share for the current year.
Pembina Pipeline Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Thursday, June 15th will be issued a $0.493 dividend. This is a boost from Pembina Pipeline’s previous quarterly dividend of $0.49. This represents a $1.97 dividend on an annualized basis and a yield of 6.02%. The ex-dividend date of this dividend is Wednesday, June 14th. Pembina Pipeline’s dividend payout ratio (DPR) is currently 50.80%.
Pembina Pipeline Company Profile
Pembina Pipeline Corp. engages in the provision of transportation and midstream services. It operates through the following segments: Pipelines, Facilities, Marketing and New Ventures, and Corporate. The Pipelines segment includes conventional, oil sands and transmission pipeline systems, crude oil storage and terminalling business and related infrastructure.
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