Capital World Investors Sells 12,915 Shares of Pembina Pipeline Corp. $PBA

Capital World Investors lowered its position in shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 20.3% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 50,709 shares of the pipeline company’s stock after selling 12,915 shares during the quarter. Capital World Investors’ holdings in Pembina Pipeline were worth $1,932,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd bought a new position in shares of Pembina Pipeline during the 3rd quarter worth approximately $31,000. Larson Financial Group LLC lifted its position in shares of Pembina Pipeline by 32.4% during the 3rd quarter. Larson Financial Group LLC now owns 1,059 shares of the pipeline company’s stock worth $43,000 after buying an additional 259 shares in the last quarter. IFP Advisors Inc lifted its position in shares of Pembina Pipeline by 74.8% during the 4th quarter. IFP Advisors Inc now owns 1,199 shares of the pipeline company’s stock worth $46,000 after buying an additional 513 shares in the last quarter. Fulcrum Asset Management LLP bought a new position in shares of Pembina Pipeline during the 3rd quarter worth approximately $46,000. Finally, Parallel Advisors LLC lifted its position in shares of Pembina Pipeline by 43.3% during the 4th quarter. Parallel Advisors LLC now owns 1,446 shares of the pipeline company’s stock worth $55,000 after buying an additional 437 shares in the last quarter. Institutional investors own 55.37% of the company’s stock.

Pembina Pipeline Stock Performance

Shares of PBA stock opened at $48.92 on Thursday. The firm has a market cap of $28.44 billion, a price-to-earnings ratio of 25.48 and a beta of 0.57. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.68 and a current ratio of 0.83. Pembina Pipeline Corp. has a 52 week low of $35.45 and a 52 week high of $50.10. The firm’s 50-day simple moving average is $46.10 and its two-hundred day simple moving average is $42.80.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last announced its quarterly earnings data on Thursday, May 7th. The pipeline company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.52 by $0.07. The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.06 billion. Pembina Pipeline had a net margin of 22.22% and a return on equity of 11.47%. The company’s revenue for the quarter was down 7.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.80 earnings per share. As a group, equities analysts forecast that Pembina Pipeline Corp. will post 2.28 earnings per share for the current year.

Pembina Pipeline Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be given a $0.735 dividend. This represents a $2.94 annualized dividend and a dividend yield of 6.0%. This is an increase from Pembina Pipeline’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Monday, June 15th. Pembina Pipeline’s payout ratio is presently 108.33%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. TD Securities raised shares of Pembina Pipeline from a “hold” rating to a “buy” rating in a research report on Tuesday, May 26th. Royal Bank Of Canada lifted their target price on shares of Pembina Pipeline from $64.00 to $68.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. JPMorgan Chase & Co. lifted their price objective on shares of Pembina Pipeline from $55.00 to $60.00 and gave the stock a “neutral” rating in a research report on Thursday, March 19th. Barclays reaffirmed an “overweight” rating on shares of Pembina Pipeline in a research report on Thursday, May 21st. Finally, Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Pembina Pipeline in a research report on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $62.67.

Pembina Pipeline Company 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.