Pembina Pipeline Co. (NYSE:PBA) Shares Sold by Intact Investment Management Inc.

Intact Investment Management Inc. decreased its holdings in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 30.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 579,684 shares of the pipeline company’s stock after selling 249,200 shares during the quarter. Intact Investment Management Inc. owned about 0.11% of Pembina Pipeline worth $18,777,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CIBC Asset Management Inc lifted its position in Pembina Pipeline by 1.7% during the 1st quarter. CIBC Asset Management Inc now owns 7,384,434 shares of the pipeline company’s stock worth $238,976,000 after acquiring an additional 123,855 shares during the period. PNC Financial Services Group Inc. lifted its position in Pembina Pipeline by 6.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 28,895 shares of the pipeline company’s stock worth $981,000 after acquiring an additional 1,645 shares during the period. Guggenheim Capital LLC lifted its position in Pembina Pipeline by 124.4% during the 1st quarter. Guggenheim Capital LLC now owns 21,916 shares of the pipeline company’s stock worth $710,000 after acquiring an additional 12,148 shares during the period. Barrett & Company Inc. acquired a new stake in Pembina Pipeline during the 1st quarter worth about $241,000. Finally, Van ECK Associates Corp lifted its position in Pembina Pipeline by 0.8% during the 1st quarter. Van ECK Associates Corp now owns 159,587 shares of the pipeline company’s stock worth $5,170,000 after acquiring an additional 1,291 shares during the period. Institutional investors and hedge funds own 53.86% of the company’s stock.

Pembina Pipeline Price Performance

Shares of Pembina Pipeline stock opened at $30.62 on Friday. The company has a quick ratio of 0.52, a current ratio of 0.62 and a debt-to-equity ratio of 0.74. Pembina Pipeline Co. has a twelve month low of $29.59 and a twelve month high of $36.93. The business has a 50-day moving average price of $30.91 and a 200 day moving average price of $31.65. The firm has a market cap of $16.82 billion, a PE ratio of 8.34, a P/E/G ratio of 4.88 and a beta of 1.28.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last announced its quarterly earnings results on Thursday, August 3rd. The pipeline company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.01). Pembina Pipeline had a net margin of 28.87% and a return on equity of 14.16%. The business had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.57 billion. Sell-side analysts predict that Pembina Pipeline Co. will post 2.1 earnings per share for the current fiscal year.

Pembina Pipeline Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be paid a dividend of $0.504 per share. This is a positive change from Pembina Pipeline’s previous quarterly dividend of $0.49. This represents a $2.02 annualized dividend and a yield of 6.58%. The ex-dividend date is Thursday, September 14th. Pembina Pipeline’s payout ratio is 53.68%.

Analyst Upgrades and Downgrades

A number of analysts have commented on PBA shares. BMO Capital Markets lowered their price target on Pembina Pipeline from C$54.00 to C$50.00 in a research report on Friday, August 4th. TD Securities decreased their price objective on Pembina Pipeline from C$54.00 to C$50.00 in a report on Tuesday, August 8th. Credit Suisse Group decreased their price objective on Pembina Pipeline from C$52.00 to C$51.00 and set an “outperform” rating for the company in a report on Wednesday, August 16th. Stifel Nicolaus assumed coverage on Pembina Pipeline in a report on Wednesday, June 21st. They issued a “buy” rating for the company. Finally, StockNews.com assumed coverage on Pembina Pipeline in a report on Thursday, August 17th. They issued a “hold” rating for the company. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $49.86.

Pembina Pipeline Profile

Pembina Pipeline Corporation provides energy transportation and midstream services. It operates through three segments: Pipelines, Facilities, and Marketing & New Ventures. The Pipelines segment operates conventional, oil sands and heavy oil, and transmission assets with a transportation capacity of 2.8 millions of barrels of oil equivalent per day, the ground storage capacity of 11 millions of barrels, and rail terminalling capacity of approximately 105 thousands of barrels of oil equivalent per day serving markets and basins across North America.