Wells Fargo & Company MN cut its position in Pembina Pipeline Corp (NYSE:PBA) (TSE:PPL) by 8.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 115,878 shares of the pipeline company’s stock after selling 11,275 shares during the quarter. Wells Fargo & Company MN’s holdings in Pembina Pipeline were worth $4,311,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in PBA. FIL Ltd boosted its position in Pembina Pipeline by 42.1% during the first quarter. FIL Ltd now owns 12,457,256 shares of the pipeline company’s stock worth $457,609,000 after purchasing an additional 3,692,553 shares during the period. TD Asset Management Inc. boosted its position in Pembina Pipeline by 15.9% during the second quarter. TD Asset Management Inc. now owns 7,704,425 shares of the pipeline company’s stock worth $287,422,000 after purchasing an additional 1,058,770 shares during the period. State of Wisconsin Investment Board boosted its position in Pembina Pipeline by 86.6% during the first quarter. State of Wisconsin Investment Board now owns 1,208,068 shares of the pipeline company’s stock worth $44,391,000 after purchasing an additional 560,684 shares during the period. AGF Investments Inc. boosted its position in Pembina Pipeline by 190.2% during the first quarter. AGF Investments Inc. now owns 476,849 shares of the pipeline company’s stock worth $17,517,000 after purchasing an additional 312,510 shares during the period. Finally, Kayne Anderson Capital Advisors LP boosted its position in Pembina Pipeline by 4.6% during the second quarter. Kayne Anderson Capital Advisors LP now owns 4,386,330 shares of the pipeline company’s stock worth $163,204,000 after purchasing an additional 193,700 shares during the period. 52.21% of the stock is owned by institutional investors and hedge funds.

A number of research firms have commented on PBA. Zacks Investment Research raised shares of Pembina Pipeline from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a research report on Tuesday, August 20th. ValuEngine cut shares of Pembina Pipeline from a “hold” rating to a “sell” rating in a research report on Saturday, September 14th. One analyst has rated the stock with a sell rating and eight have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $41.00.

Shares of Pembina Pipeline stock traded up $0.26 during trading on Friday, reaching $37.49. The company’s stock had a trading volume of 64,417 shares, compared to its average volume of 924,312. The business’s 50-day moving average price is $36.75 and its 200-day moving average price is $36.77. The firm has a market cap of $18.96 billion, a PE ratio of 21.18, a P/E/G ratio of 3.46 and a beta of 0.75. Pembina Pipeline Corp has a 52 week low of $28.30 and a 52 week high of $38.56. The company has a quick ratio of 0.62, a current ratio of 0.68 and a debt-to-equity ratio of 0.64.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last announced its earnings results on Thursday, August 1st. The pipeline company reported $1.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.81. The company had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.68 billion. Pembina Pipeline had a net margin of 22.20% and a return on equity of 13.92%. Pembina Pipeline’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.43 earnings per share. Equities analysts predict that Pembina Pipeline Corp will post 2.15 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Wednesday, September 25th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date of this dividend is Tuesday, September 24th. Pembina Pipeline’s dividend payout ratio (DPR) is presently 102.82%.

Pembina Pipeline Company Profile

Pembina Pipeline Corporation provides transportation and midstream services for the energy industry in North America. It operates through three divisions: Pipelines, Facilities, and Marketing & New Ventures. The Pipelines division operates conventional, transmission, and oil sands and heavy oil pipeline assets with a total capacity of 3 million barrels of oil serving markets and basins across North America through conventional, transmission, and oil sand pipelines assets.

See Also: Convertible Shares

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

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