AGF Management Ltd. Lowers Position in Pembina Pipeline Co. (NYSE:PBA)

AGF Management Ltd. trimmed its holdings in shares of Pembina Pipeline Co. (NYSE:PBAFree Report) (TSE:PPL) by 12.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 63,409 shares of the pipeline company’s stock after selling 8,966 shares during the quarter. AGF Management Ltd.’s holdings in Pembina Pipeline were worth $2,257,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the business. Kovitz Investment Group Partners LLC purchased a new position in shares of Pembina Pipeline during the fourth quarter worth about $219,000. Principal Securities Inc. purchased a new position in Pembina Pipeline in the 4th quarter worth approximately $142,000. Metis Global Partners LLC increased its holdings in shares of Pembina Pipeline by 2.8% in the 4th quarter. Metis Global Partners LLC now owns 44,926 shares of the pipeline company’s stock worth $1,547,000 after buying an additional 1,240 shares during the last quarter. U.S. Capital Wealth Advisors LLC purchased a new stake in shares of Pembina Pipeline during the 4th quarter valued at $220,000. Finally, M&T Bank Corp lifted its holdings in shares of Pembina Pipeline by 3.0% during the 4th quarter. M&T Bank Corp now owns 84,481 shares of the pipeline company’s stock worth $2,908,000 after acquiring an additional 2,441 shares during the last quarter. 55.37% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. StockNews.com cut Pembina Pipeline from a “buy” rating to a “hold” rating in a research note on Monday. CIBC increased their price objective on Pembina Pipeline from $56.00 to $57.00 and gave the company an “outperformer” rating in a research report on Friday, April 19th. Finally, TheStreet upgraded Pembina Pipeline from a “c” rating to a “b-” rating in a research report on Thursday, February 29th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $52.00.

Get Our Latest Report on PBA

Pembina Pipeline Stock Up 0.6 %

Shares of NYSE:PBA opened at $37.08 on Wednesday. The stock has a market capitalization of $21.49 billion, a P/E ratio of 16.12, a price-to-earnings-growth ratio of 5.48 and a beta of 1.20. The stock’s 50-day moving average price is $35.36 and its 200-day moving average price is $34.19. The company has a current ratio of 1.03, a quick ratio of 0.71 and a debt-to-equity ratio of 0.78. Pembina Pipeline Co. has a 12-month low of $28.15 and a 12-month high of $37.30.

Pembina Pipeline (NYSE:PBAGet Free Report) (TSE:PPL) last posted its quarterly earnings results on Thursday, February 22nd. The pipeline company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.34. Pembina Pipeline had a return on equity of 13.33% and a net margin of 21.61%. The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.83 billion. On average, equities analysts anticipate that Pembina Pipeline Co. will post 2.24 earnings per share for the current year.

Pembina Pipeline Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 17th will be paid a $0.501 dividend. This represents a $2.00 annualized dividend and a dividend yield of 5.40%. This is an increase from Pembina Pipeline’s previous quarterly dividend of $0.49. The ex-dividend date is Monday, June 17th. Pembina Pipeline’s payout ratio is presently 85.65%.

About Pembina Pipeline

(Free Report)

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 2.9 millions of barrels of oil equivalent per day, the ground storage capacity of 10 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.

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Institutional Ownership by Quarter for Pembina Pipeline (NYSE:PBA)

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