Pembina Pipeline Co. (NYSE:PBA) Stock Position Lowered by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lessened its position in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 2.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 120,895 shares of the pipeline company’s stock after selling 2,928 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Pembina Pipeline were worth $4,183,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Pembina Pipeline by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 21,222,536 shares of the pipeline company’s stock worth $637,949,000 after buying an additional 351,266 shares in the last quarter. Bank of Nova Scotia raised its position in shares of Pembina Pipeline by 3.1% during the third quarter. Bank of Nova Scotia now owns 14,665,584 shares of the pipeline company’s stock worth $440,966,000 after purchasing an additional 445,262 shares during the period. Deutsche Bank AG raised its position in shares of Pembina Pipeline by 1.0% during the third quarter. Deutsche Bank AG now owns 13,391,140 shares of the pipeline company’s stock worth $402,538,000 after purchasing an additional 131,487 shares during the period. Mackenzie Financial Corp raised its position in shares of Pembina Pipeline by 5.7% during the fourth quarter. Mackenzie Financial Corp now owns 12,652,115 shares of the pipeline company’s stock worth $435,812,000 after purchasing an additional 680,945 shares during the period. Finally, Toronto Dominion Bank raised its position in shares of Pembina Pipeline by 8.3% during the third quarter. Toronto Dominion Bank now owns 7,699,608 shares of the pipeline company’s stock worth $231,450,000 after purchasing an additional 593,061 shares during the period. Institutional investors own 55.37% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PBA. CIBC boosted their target price on Pembina Pipeline from $56.00 to $57.00 and gave the stock an “outperformer” rating in a research report on Friday. TheStreet raised Pembina Pipeline from a “c” rating to a “b-” rating in a research report on Thursday, February 29th. Finally, StockNews.com raised Pembina Pipeline from a “hold” rating to a “buy” rating in a research report on Friday, April 12th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $52.00.

Pembina Pipeline Stock Performance

Shares of NYSE PBA opened at $35.10 on Tuesday. The business’s 50-day moving average price is $34.88 and its two-hundred day moving average price is $33.61. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.82 and a quick ratio of 0.71. Pembina Pipeline Co. has a one year low of $28.15 and a one year high of $36.17. The company has a market capitalization of $20.34 billion, a P/E ratio of 15.88, a price-to-earnings-growth ratio of 5.21 and a beta of 1.20.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last issued its earnings results on Thursday, February 22nd. The pipeline company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.34. The firm had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.83 billion. Pembina Pipeline had a return on equity of 13.11% and a net margin of 19.43%. Analysts anticipate that Pembina Pipeline Co. will post 2.23 earnings per share for the current fiscal year.

Pembina Pipeline Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were paid a dividend of $0.4944 per share. This represents a $1.98 annualized dividend and a dividend yield of 5.63%. The ex-dividend date was Thursday, March 14th. This is an increase from Pembina Pipeline’s previous quarterly dividend of $0.48. Pembina Pipeline’s dividend payout ratio is 89.14%.

About Pembina Pipeline

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.