Bank of Nova Scotia Reduces Stock Holdings in Pembina Pipeline Corp. $PBA

Bank of Nova Scotia trimmed its position in shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 26.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,461,021 shares of the pipeline company’s stock after selling 1,229,282 shares during the period. Bank of Nova Scotia owned 0.60% of Pembina Pipeline worth $139,939,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the company. Mediolanum International Funds Ltd lifted its position in shares of Pembina Pipeline by 2.0% during the 2nd quarter. Mediolanum International Funds Ltd now owns 14,760 shares of the pipeline company’s stock valued at $551,000 after buying an additional 293 shares during the last quarter. MAI Capital Management increased its holdings in Pembina Pipeline by 2.9% in the 2nd quarter. MAI Capital Management now owns 10,664 shares of the pipeline company’s stock worth $400,000 after acquiring an additional 302 shares during the last quarter. Midwest Professional Planners LTD. increased its holdings in Pembina Pipeline by 1.9% in the 2nd quarter. Midwest Professional Planners LTD. now owns 16,890 shares of the pipeline company’s stock worth $634,000 after acquiring an additional 312 shares during the last quarter. PFG Investments LLC raised its stake in Pembina Pipeline by 2.5% in the 3rd quarter. PFG Investments LLC now owns 13,000 shares of the pipeline company’s stock valued at $526,000 after acquiring an additional 313 shares during the period. Finally, Public Sector Pension Investment Board raised its stake in Pembina Pipeline by 0.6% in the 3rd quarter. Public Sector Pension Investment Board now owns 56,339 shares of the pipeline company’s stock valued at $2,278,000 after acquiring an additional 335 shares during the period. 55.37% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PBA has been the subject of a number of research reports. Zacks Research upgraded shares of Pembina Pipeline from a “strong sell” rating to a “hold” rating in a research report on Friday, January 23rd. TD Securities lowered shares of Pembina Pipeline from a “buy” rating to a “hold” rating in a research report on Tuesday, February 17th. BMO Capital Markets restated a “market perform” rating on shares of Pembina Pipeline in a research note on Friday, February 27th. Finally, Weiss Ratings raised shares of Pembina Pipeline from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 2nd. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $60.00.

Pembina Pipeline Trading Up 0.4%

Shares of PBA opened at $44.65 on Friday. The business’s 50-day moving average price is $41.84 and its 200-day moving average price is $39.72. Pembina Pipeline Corp. has a twelve month low of $34.13 and a twelve month high of $45.09. The stock has a market cap of $25.94 billion, a PE ratio of 23.50 and a beta of 0.68. The company has a quick ratio of 0.47, a current ratio of 0.61 and a debt-to-equity ratio of 0.80.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last released its quarterly earnings data on Thursday, February 26th. The pipeline company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.06. The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.41 billion. Pembina Pipeline had a net margin of 21.76% and a return on equity of 11.17%. Pembina Pipeline’s revenue was down 10.8% compared to the same quarter last year. During the same period last year, the business earned $0.92 earnings per share. On average, equities analysts forecast that Pembina Pipeline Corp. will post 2.15 EPS for the current fiscal year.

Pembina Pipeline Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be paid a $0.71 dividend. The ex-dividend date is Monday, March 16th. This represents a $2.84 annualized dividend and a yield of 6.4%. Pembina Pipeline’s dividend payout ratio is currently 106.84%.

About Pembina Pipeline

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.