Shell Asset Management Co. Cuts Stake in Pembina Pipeline Co. (NYSE:PBA)

Shell Asset Management Co. lowered its position in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 2.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 35,679 shares of the pipeline company’s stock after selling 800 shares during the period. Shell Asset Management Co.’s holdings in Pembina Pipeline were worth $1,318,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of PBA. Sound Income Strategies LLC purchased a new stake in Pembina Pipeline in the fourth quarter worth approximately $27,000. Principal Securities Inc. boosted its stake in shares of Pembina Pipeline by 2,597.1% during the fourth quarter. Principal Securities Inc. now owns 917 shares of the pipeline company’s stock valued at $34,000 after purchasing an additional 883 shares during the period. Venturi Wealth Management LLC boosted its stake in shares of Pembina Pipeline by 880.0% during the fourth quarter. Venturi Wealth Management LLC now owns 980 shares of the pipeline company’s stock valued at $36,000 after purchasing an additional 880 shares during the period. VSM Wealth Advisory LLC purchased a new stake in shares of Pembina Pipeline during the fourth quarter valued at approximately $37,000. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Pembina Pipeline during the fourth quarter valued at approximately $40,000. Hedge funds and other institutional investors own 55.37% of the company’s stock.

Pembina Pipeline Stock Performance

NYSE:PBA opened at $37.64 on Friday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.51 and a current ratio of 0.65. The firm has a market cap of $21.87 billion, a PE ratio of 15.56 and a beta of 0.81. The business has a 50 day moving average price of $38.31 and a 200-day moving average price of $38.28. Pembina Pipeline Co. has a fifty-two week low of $34.13 and a fifty-two week high of $43.44.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last announced its earnings results on Thursday, May 8th. The pipeline company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.23. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.47 billion. Pembina Pipeline had a return on equity of 13.62% and a net margin of 25.39%. The firm’s revenue for the quarter was up 48.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.73 earnings per share. Equities research analysts predict that Pembina Pipeline Co. will post 2.15 earnings per share for the current year.

Pembina Pipeline Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be issued a dividend of $0.5109 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 5.43%. The ex-dividend date is Monday, June 16th. This is an increase from Pembina Pipeline’s previous quarterly dividend of $0.48. Pembina Pipeline’s dividend payout ratio is currently 89.14%.

Analysts Set New Price Targets

Separately, Citigroup raised Pembina Pipeline from a “neutral” rating to a “buy” rating in a research note on Monday, March 10th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $56.00.

Pembina Pipeline Company Profile

Pembina Pipeline Corporation provides energy transportation and midstream services. It operates through three segments: Pipelines, Facilities, and Marketing & New Ventures. The Pipelines segment operates conventional, oil sands and heavy oil, and transmission assets with a transportation capacity of 2.9 millions of barrels of oil equivalent per day, the ground storage capacity of 10 millions of barrels, and rail terminalling capacity of approximately 105 thousands of barrels of oil equivalent per day serving markets and basins across North America.