Pembina Pipeline Co. (NYSE:PBA) Shares Sold by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its stake in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 75.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 614,762 shares of the pipeline company’s stock after selling 1,894,614 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Pembina Pipeline were worth $22,813,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. ICA Group Wealth Management LLC bought a new stake in shares of Pembina Pipeline in the 4th quarter worth approximately $25,000. Beacon Capital Management LLC acquired a new position in shares of Pembina Pipeline during the first quarter valued at $37,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Pembina Pipeline by 74.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,081 shares of the pipeline company’s stock valued at $37,000 after acquiring an additional 462 shares during the period. Creekmur Asset Management LLC bought a new position in shares of Pembina Pipeline during the fourth quarter worth about $62,000. Finally, Massmutual Trust Co. FSB ADV increased its holdings in shares of Pembina Pipeline by 47.2% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 2,511 shares of the pipeline company’s stock worth $93,000 after acquiring an additional 805 shares during the period. 55.37% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PBA has been the subject of a number of analyst reports. UBS Group started coverage on shares of Pembina Pipeline in a research note on Wednesday, September 11th. They set a “neutral” rating for the company. Citigroup lifted their price target on Pembina Pipeline from $53.00 to $56.00 and gave the company a “neutral” rating in a report on Wednesday, August 28th. Four research analysts have rated the stock with a hold rating, According to MarketBeat.com, Pembina Pipeline presently has an average rating of “Hold” and an average price target of $56.50.

Pembina Pipeline Stock Performance

Shares of PBA opened at $41.35 on Wednesday. The firm has a market capitalization of $24.00 billion, a PE ratio of 17.98, a P/E/G ratio of 5.67 and a beta of 1.25. The company has a quick ratio of 0.55, a current ratio of 0.68 and a debt-to-equity ratio of 0.77. The firm has a 50-day moving average price of $39.32 and a 200 day moving average price of $37.28. Pembina Pipeline Co. has a 52-week low of $28.15 and a 52-week high of $41.58.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last posted its quarterly earnings data on Thursday, August 8th. The pipeline company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.21. Pembina Pipeline had a net margin of 23.50% and a return on equity of 13.68%. The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same quarter last year, the business earned $0.45 earnings per share. The business’s revenue for the quarter was up 30.5% on a year-over-year basis. On average, sell-side analysts anticipate that Pembina Pipeline Co. will post 2.42 earnings per share for the current fiscal year.

Pembina Pipeline Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Monday, September 16th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.84%. The ex-dividend date of this dividend is Monday, September 16th. Pembina Pipeline’s dividend payout ratio is presently 88.70%.

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.