AGF Management Ltd. Sells 218,834 Shares of Pembina Pipeline Corp. $PBA

AGF Management Ltd. trimmed its holdings in Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 10.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,939,938 shares of the pipeline company’s stock after selling 218,834 shares during the period. AGF Management Ltd. owned about 0.33% of Pembina Pipeline worth $78,532,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in Pembina Pipeline by 3.2% during the 2nd quarter. Vanguard Group Inc. now owns 26,114,982 shares of the pipeline company’s stock worth $980,539,000 after purchasing an additional 818,526 shares during the period. JARISLOWSKY FRASER Ltd increased its holdings in Pembina Pipeline by 1,894.9% in the 3rd quarter. JARISLOWSKY FRASER Ltd now owns 8,814,455 shares of the pipeline company’s stock worth $356,468,000 after acquiring an additional 8,372,612 shares in the last quarter. CIBC Asset Management Inc lifted its stake in shares of Pembina Pipeline by 47.4% in the second quarter. CIBC Asset Management Inc now owns 7,547,536 shares of the pipeline company’s stock worth $283,823,000 after buying an additional 2,427,939 shares in the last quarter. TD Asset Management Inc raised its holdings in shares of Pembina Pipeline by 5.0% during the 2nd quarter. TD Asset Management Inc now owns 7,298,690 shares of the pipeline company’s stock worth $273,494,000 after acquiring an additional 347,854 shares during the period. Finally, Norges Bank acquired a new stake in Pembina Pipeline during the second quarter worth $229,613,000. 55.37% of the stock is currently owned by hedge funds and other institutional investors.

Pembina Pipeline Stock Down 1.2%

Shares of PBA opened at $41.54 on Monday. The firm has a market capitalization of $24.13 billion, a P/E ratio of 20.77 and a beta of 0.68. The company has a 50-day simple moving average of $38.56 and a 200-day simple moving average of $38.31. Pembina Pipeline Corp. has a 52 week low of $34.13 and a 52 week high of $42.40. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.41 and a current ratio of 0.53.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last released its quarterly earnings results on Thursday, November 6th. The pipeline company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.14). The business had revenue of $911.47 million for the quarter, compared to analyst estimates of $1.42 billion. Pembina Pipeline had a net margin of 22.17% and a return on equity of 11.59%. The company’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.60 earnings per share. On average, equities research analysts expect that Pembina Pipeline Corp. will post 2.15 earnings per share for the current year.

Pembina Pipeline Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th were paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 6.8%. The ex-dividend date was Monday, December 15th. Pembina Pipeline’s dividend payout ratio (DPR) is currently 101.50%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on PBA shares. BMO Capital Markets reaffirmed an “outperform” rating on shares of Pembina Pipeline in a research report on Tuesday, December 16th. Zacks Research upgraded shares of Pembina Pipeline from a “strong sell” rating to a “hold” rating in a report on Friday, January 23rd. TD Securities cut their price target on shares of Pembina Pipeline from $65.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday, December 16th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Pembina Pipeline in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $60.00.

Pembina Pipeline Profile

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.