Intech Investment Management LLC Trims Stake in Pembina Pipeline Corp. $PBA

Intech Investment Management LLC trimmed its position in Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 46.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 43,559 shares of the pipeline company’s stock after selling 38,211 shares during the quarter. Intech Investment Management LLC’s holdings in Pembina Pipeline were worth $1,762,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Varma Mutual Pension Insurance Co grew its holdings in Pembina Pipeline by 8.6% during the 3rd quarter. Varma Mutual Pension Insurance Co now owns 309,779 shares of the pipeline company’s stock worth $12,528,000 after acquiring an additional 24,400 shares in the last quarter. Quantbot Technologies LP lifted its position in shares of Pembina Pipeline by 66.3% in the 2nd quarter. Quantbot Technologies LP now owns 76,566 shares of the pipeline company’s stock worth $2,872,000 after purchasing an additional 30,523 shares during the period. Ontario Teachers Pension Plan Board bought a new position in shares of Pembina Pipeline during the second quarter valued at approximately $1,658,000. First Trust Advisors LP increased its holdings in Pembina Pipeline by 411.1% during the second quarter. First Trust Advisors LP now owns 1,247,976 shares of the pipeline company’s stock valued at $46,820,000 after buying an additional 1,003,819 shares during the period. Finally, Westwood Holdings Group Inc. raised its stake in Pembina Pipeline by 14.1% in the second quarter. Westwood Holdings Group Inc. now owns 1,629,929 shares of the pipeline company’s stock worth $61,139,000 after buying an additional 201,096 shares in the last quarter. Institutional investors own 55.37% of the company’s stock.

Pembina Pipeline Stock Down 0.4%

Shares of PBA stock opened at $44.31 on Friday. The stock’s fifty day moving average price is $41.06 and its 200 day moving average price is $39.41. Pembina Pipeline Corp. has a 1-year low of $34.13 and a 1-year high of $45.09. The company has a market cap of $25.75 billion, a price-to-earnings ratio of 23.32 and a beta of 0.68. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.61 and a quick ratio of 0.41.

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

Pembina Pipeline Announces Dividend

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

Analysts Set New Price Targets

Several analysts have issued reports on PBA shares. BMO Capital Markets reaffirmed a “market perform” rating on shares of Pembina Pipeline in a research report on Friday, February 27th. Weiss Ratings raised Pembina Pipeline from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday. Zacks Research upgraded Pembina Pipeline from a “strong sell” rating to a “hold” rating in a research note on Friday, January 23rd. Finally, TD Securities lowered shares of Pembina Pipeline from a “buy” rating to a “hold” rating in a research report on Tuesday, February 17th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average 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.