PCJ Investment Counsel Ltd. Cuts Holdings in Pembina Pipeline Corp. $PBA

PCJ Investment Counsel Ltd. reduced its holdings in Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 33.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 127,780 shares of the pipeline company’s stock after selling 64,340 shares during the quarter. Pembina Pipeline comprises 1.4% of PCJ Investment Counsel Ltd.’s investment portfolio, making the stock its 24th biggest holding. PCJ Investment Counsel Ltd.’s holdings in Pembina Pipeline were worth $5,168,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Pembina Pipeline by 2.2% during the third quarter. Vanguard Group Inc. now owns 26,691,827 shares of the pipeline company’s stock worth $1,079,231,000 after acquiring an additional 576,845 shares during the period. JARISLOWSKY FRASER Ltd lifted its holdings in Pembina Pipeline by 1,894.9% in the third quarter. JARISLOWSKY FRASER Ltd now owns 8,814,455 shares of the pipeline company’s stock valued at $356,468,000 after acquiring an additional 8,372,612 shares during the period. TD Asset Management Inc boosted its position in shares of Pembina Pipeline by 3.9% during the 3rd quarter. TD Asset Management Inc now owns 7,582,203 shares of the pipeline company’s stock worth $306,634,000 after purchasing an additional 283,513 shares in the last quarter. CIBC Asset Management Inc boosted its position in shares of Pembina Pipeline by 47.4% during the 2nd quarter. CIBC Asset Management Inc now owns 7,547,536 shares of the pipeline company’s stock worth $283,823,000 after purchasing an additional 2,427,939 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Pembina Pipeline during the 2nd quarter worth $229,613,000. 55.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Pembina Pipeline Trading Up 0.2%

Shares of PBA stock opened at $44.67 on Wednesday. Pembina Pipeline Corp. has a fifty-two week low of $34.13 and a fifty-two week high of $45.09. The stock has a market cap of $25.95 billion, a P/E ratio of 23.51 and a beta of 0.68. The business has a fifty day simple moving average of $41.46 and a 200-day simple moving average of $39.59. 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, topping the consensus estimate of $0.50 by $0.06. The business had revenue of $1.02 billion for 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%. The business’s revenue for the quarter was down 10.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.92 EPS. On average, analysts forecast that Pembina Pipeline Corp. will post 2.15 earnings per share for the current fiscal year.

Pembina Pipeline Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be given 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 payout ratio is presently 109.47%.

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.