Pembina Pipeline (NYSE:PBA) Issues Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Pembina Pipeline (NYSE:PBA) (TSE:PPL) posted its quarterly earnings results on Thursday. The pipeline company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.06, Zacks reports. The firm had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.41 billion. Pembina Pipeline had a net margin of 22.17% and a return on equity of 11.59%. The firm’s revenue for the quarter was down 10.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.92 earnings per share.

Pembina Pipeline Price Performance

Shares of NYSE PBA traded down $0.04 during trading on Friday, reaching $43.96. The company had a trading volume of 2,147,356 shares, compared to its average volume of 1,553,568. The stock has a 50-day moving average price of $40.36 and a two-hundred day moving average price of $39.12. Pembina Pipeline has a twelve month low of $34.13 and a twelve month high of $44.60. The stock has a market capitalization of $25.54 billion, a PE ratio of 21.98 and a beta of 0.68. The company has a current ratio of 0.53, a quick ratio of 0.41 and a debt-to-equity ratio of 0.77.

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 given a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, March 16th. This represents a $2.84 annualized dividend and a yield of 6.5%. Pembina Pipeline’s dividend payout ratio (DPR) is presently 101.50%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in PBA. BCV Asset Management Inc. acquired a new stake in Pembina Pipeline in the 4th quarter worth about $61,412,000. Morgan Stanley raised its holdings in shares of Pembina Pipeline by 45.4% in the 4th quarter. Morgan Stanley now owns 4,723,159 shares of the pipeline company’s stock worth $179,763,000 after purchasing an additional 1,475,320 shares during the period. MUFG Securities EMEA plc acquired a new position in shares of Pembina Pipeline in the 2nd quarter valued at about $52,514,000. Dimensional Fund Advisors LP grew its holdings in shares of Pembina Pipeline by 61.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,328,709 shares of the pipeline company’s stock worth $94,207,000 after purchasing an additional 887,413 shares during the period. Finally, Scotia Capital Inc. increased its position in Pembina Pipeline by 12.6% during the 3rd quarter. Scotia Capital Inc. now owns 6,425,487 shares of the pipeline company’s stock worth $258,724,000 after purchasing an additional 717,773 shares in the last quarter. Hedge funds and other institutional investors own 55.37% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on PBA shares. TD Securities cut Pembina Pipeline from a “buy” rating to a “hold” rating in a research report on Tuesday, February 17th. BMO Capital Markets reiterated a “market perform” rating on shares of Pembina Pipeline in a research report on Friday. Weiss Ratings reissued a “hold (c)” rating on shares of Pembina Pipeline in a report on Monday, December 29th. Finally, Zacks Research upgraded shares of Pembina Pipeline from a “strong sell” rating to a “hold” rating in a research report on Friday, January 23rd. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $60.00.

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.