Pembina Pipeline Corp. $PBA Shares Sold by TD Asset Management Inc

TD Asset Management Inc reduced its position in shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 17.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,289,540 shares of the pipeline company’s stock after selling 1,292,663 shares during the period. TD Asset Management Inc owned about 1.08% of Pembina Pipeline worth $239,927,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank acquired a new stake in Pembina Pipeline in the fourth quarter worth $213,701,000. MUFG Securities EMEA plc acquired a new stake in Pembina Pipeline in the second quarter worth $52,514,000. CIBC Asset Management Inc increased its position in Pembina Pipeline by 17.8% in the fourth quarter. CIBC Asset Management Inc now owns 8,620,307 shares of the pipeline company’s stock worth $329,245,000 after buying an additional 1,304,227 shares during the period. Dimensional Fund Advisors LP increased its position in Pembina Pipeline by 61.6% in the third quarter. Dimensional Fund Advisors LP now owns 2,328,709 shares of the pipeline company’s stock worth $94,207,000 after buying an additional 887,413 shares during the period. Finally, Scotia Capital Inc. increased its position in Pembina Pipeline by 12.6% in the third quarter. Scotia Capital Inc. now owns 6,425,487 shares of the pipeline company’s stock worth $258,724,000 after buying an additional 717,773 shares during the period. 55.37% of the stock is owned by institutional investors and hedge funds.

Pembina Pipeline Trading Down 0.3%

NYSE:PBA opened at $48.62 on Thursday. The company has a quick ratio of 0.68, a current ratio of 0.83 and a debt-to-equity ratio of 0.84. Pembina Pipeline Corp. has a 1-year low of $35.45 and a 1-year high of $50.10. The firm has a market capitalization of $28.27 billion, a price-to-earnings ratio of 25.32 and a beta of 0.57. The stock has a fifty day simple moving average of $45.78 and a 200 day simple moving average of $42.45.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last released its quarterly earnings results on Thursday, May 7th. The pipeline company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.07. Pembina Pipeline had a return on equity of 11.47% and a net margin of 22.22%.The business had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same quarter last year, the company posted $0.80 EPS. Pembina Pipeline’s revenue for the quarter was down 7.7% on a year-over-year basis. Sell-side analysts forecast that Pembina Pipeline Corp. will post 2.28 earnings per share for the current year.

Pembina Pipeline Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be given a $0.735 dividend. This is a positive change from Pembina Pipeline’s previous quarterly dividend of $0.71. The ex-dividend date is Monday, June 15th. This represents a $2.94 dividend on an annualized basis and a dividend yield of 6.0%. Pembina Pipeline’s dividend payout ratio is 108.33%.

Analyst Ratings Changes

PBA has been the topic of several analyst reports. BMO Capital Markets reaffirmed a “market perform” rating on shares of Pembina Pipeline in a research report on Tuesday, May 26th. JPMorgan Chase & Co. increased their target price on Pembina Pipeline from $55.00 to $60.00 and gave the stock a “neutral” rating in a research report on Thursday, March 19th. Wall Street Zen raised Pembina Pipeline from a “sell” rating to a “hold” rating in a research report on Sunday, May 10th. Royal Bank Of Canada increased their price target on Pembina Pipeline from $64.00 to $68.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. Finally, TD Securities raised Pembina Pipeline from a “hold” rating to a “buy” rating in a research note on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $62.67.

Pembina Pipeline Profile

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.