Granite Investment Advisors LLC reduced its position in Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 4.1% during the second quarter, Holdings Channel reports. The fund owned 157,824 shares of the pipeline company’s stock after selling 6,795 shares during the period. Granite Investment Advisors LLC’s holdings in Pembina Pipeline Corp. were worth $5,473,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its position in shares of Pembina Pipeline Corp. by 28.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 107,905 shares of the pipeline company’s stock worth $3,380,000 after buying an additional 23,692 shares during the last quarter. AQR Capital Management LLC purchased a new position in shares of Pembina Pipeline Corp. during the fourth quarter worth $631,000. UBS Asset Management Americas Inc. raised its position in shares of Pembina Pipeline Corp. by 9.7% in the fourth quarter. UBS Asset Management Americas Inc. now owns 917,631 shares of the pipeline company’s stock worth $28,712,000 after buying an additional 81,410 shares during the last quarter. Gulf International Bank UK Ltd raised its position in shares of Pembina Pipeline Corp. by 1.6% in the first quarter. Gulf International Bank UK Ltd now owns 121,284 shares of the pipeline company’s stock worth $3,837,000 after buying an additional 1,900 shares during the last quarter. Finally, Barometer Capital Management Inc. raised its position in shares of Pembina Pipeline Corp. by 31.1% in the first quarter. Barometer Capital Management Inc. now owns 717,681 shares of the pipeline company’s stock worth $22,758,000 after buying an additional 170,299 shares during the last quarter. Institutional investors own 46.73% of the company’s stock.

Shares of Pembina Pipeline Corp. (PBA) opened at 31.81 on Friday. The stock has a market capitalization of $12.82 billion, a price-to-earnings ratio of 31.19 and a beta of 0.71. Pembina Pipeline Corp. has a 52 week low of $27.44 and a 52 week high of $34.97. The firm’s 50-day moving average is $33.51 and its 200-day moving average is $32.45.

Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) last posted its quarterly earnings results on Tuesday, August 1st. The pipeline company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by $0.08. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.36 billion. Pembina Pipeline Corp. had a return on equity of 8.59% and a net margin of 12.12%. The business’s revenue was up 13.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.25 earnings per share. Analysts forecast that Pembina Pipeline Corp. will post $1.36 earnings per share for the current fiscal year.

The firm also recently declared a aug 17 dividend, which will be paid on Friday, September 15th. Investors of record on Friday, August 25th will be given a dividend of $0.17 per share. The ex-dividend date is Wednesday, August 23rd. This represents a yield of 4.85%. Pembina Pipeline Corp.’s payout ratio is presently 161.86%.

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A number of equities analysts recently weighed in on PBA shares. Zacks Investment Research lowered shares of Pembina Pipeline Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, May 2nd. National Bank Financial upgraded shares of Pembina Pipeline Corp. from a “sector perform” rating to an “outperform” rating in a report on Tuesday, May 2nd. AltaCorp Capital restated an “outperform” rating on shares of Pembina Pipeline Corp. in a report on Wednesday, May 3rd. Finally, BidaskClub upgraded shares of Pembina Pipeline Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, June 27th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Pembina Pipeline Corp. currently has a consensus rating of “Buy” and a consensus price target of $43.00.

About Pembina Pipeline Corp.

Pembina Pipeline Corporation is an energy transportation and service provider. The Company operates through four segments. The Conventional Pipelines segment consists of the tariff-based operations of pipelines and related facilities to deliver crude oil, condensate and natural gas liquids (NGL) in Alberta, British Columbia, Saskatchewan, and North Dakota, United States.

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Institutional Ownership by Quarter for Pembina Pipeline Corp. (NYSE:PBA)

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