Stifel Financial Corp Trims Stock Position in Pembina Pipeline Co. (NYSE:PBA)

Stifel Financial Corp reduced its position in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 7.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,417 shares of the pipeline company’s stock after selling 2,388 shares during the quarter. Stifel Financial Corp’s holdings in Pembina Pipeline were worth $1,161,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of PBA. Vanguard Group Inc. lifted its position in shares of Pembina Pipeline by 3.2% during the fourth quarter. Vanguard Group Inc. now owns 24,887,077 shares of the pipeline company’s stock valued at $919,503,000 after buying an additional 770,729 shares during the last quarter. TD Asset Management Inc. raised its stake in shares of Pembina Pipeline by 5.4% in the fourth quarter. TD Asset Management Inc. now owns 6,789,722 shares of the pipeline company’s stock worth $250,732,000 after purchasing an additional 347,872 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Pembina Pipeline by 0.5% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,249,624 shares of the pipeline company’s stock valued at $230,610,000 after acquiring an additional 32,519 shares during the last quarter. Scotia Capital Inc. grew its position in Pembina Pipeline by 1.7% during the 4th quarter. Scotia Capital Inc. now owns 4,969,977 shares of the pipeline company’s stock worth $183,596,000 after purchasing an additional 85,121 shares during the period. Finally, Norges Bank purchased a new position in Pembina Pipeline during the fourth quarter valued at approximately $171,860,000. Institutional investors own 55.37% of the company’s stock.

Wall Street Analyst Weigh In

PBA has been the topic of several recent analyst reports. Citigroup raised shares of Pembina Pipeline from a “neutral” rating to a “buy” rating in a research note on Monday, March 10th. TD Securities initiated coverage on shares of Pembina Pipeline in a research note on Wednesday, January 15th. They issued a “buy” rating on the stock. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Pembina Pipeline currently has an average rating of “Moderate Buy” and an average price target of $56.00.

Pembina Pipeline Stock Performance

Shares of Pembina Pipeline stock opened at $39.37 on Friday. Pembina Pipeline Co. has a 52 week low of $34.13 and a 52 week high of $43.44. The firm has a market cap of $22.87 billion, a PE ratio of 16.27 and a beta of 0.81. The business’s fifty day simple moving average is $38.39 and its 200-day simple moving average is $38.52. The company has a quick ratio of 0.51, a current ratio of 0.65 and a debt-to-equity ratio of 0.79.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last posted its quarterly earnings data on Thursday, May 8th. The pipeline company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.27. Pembina Pipeline had a return on equity of 13.62% and a net margin of 25.39%. During the same period in the prior year, the firm posted $0.73 EPS. Pembina Pipeline’s revenue for the quarter was up 48.2% compared to the same quarter last year. Equities analysts forecast that Pembina Pipeline Co. will post 2.15 earnings per share for the current year.

Pembina Pipeline Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were paid a $0.4783 dividend. This represents a $1.91 annualized dividend and a dividend yield of 4.86%. The ex-dividend date of this dividend was Monday, March 17th. Pembina Pipeline’s payout ratio is presently 86.76%.

About Pembina Pipeline

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.