APG Asset Management N.V. Sells 9,983 Shares of Pembina Pipeline Co. (NYSE:PBA)

APG Asset Management N.V. reduced its holdings in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 9.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 96,275 shares of the pipeline company’s stock after selling 9,983 shares during the quarter. APG Asset Management N.V.’s holdings in Pembina Pipeline were worth $3,332,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Mediolanum International Funds Ltd bought a new stake in Pembina Pipeline in the first quarter valued at $1,745,000. Quantbot Technologies LP boosted its stake in shares of Pembina Pipeline by 10,862.7% during the 1st quarter. Quantbot Technologies LP now owns 32,340 shares of the pipeline company’s stock valued at $1,143,000 after purchasing an additional 32,045 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Pembina Pipeline by 2.4% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,284,326 shares of the pipeline company’s stock valued at $45,360,000 after buying an additional 29,743 shares during the period. Cetera Advisors LLC raised its stake in Pembina Pipeline by 248.9% in the first quarter. Cetera Advisors LLC now owns 31,948 shares of the pipeline company’s stock worth $1,129,000 after buying an additional 22,790 shares in the last quarter. Finally, Hillsdale Investment Management Inc. lifted its holdings in Pembina Pipeline by 13,721.7% in the first quarter. Hillsdale Investment Management Inc. now owns 72,702 shares of the pipeline company’s stock worth $2,567,000 after buying an additional 72,176 shares during the period. 55.37% of the stock is owned by hedge funds and other institutional investors.

Pembina Pipeline Price Performance

Shares of NYSE PBA opened at $41.16 on Monday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.55 and a current ratio of 0.68. The company has a 50 day simple moving average of $39.52 and a two-hundred day simple moving average of $37.39. Pembina Pipeline Co. has a fifty-two week low of $28.15 and a fifty-two week high of $41.58. The company has a market capitalization of $23.89 billion, a price-to-earnings ratio of 17.90, a P/E/G ratio of 5.70 and a beta of 1.25.

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

Pembina Pipeline Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Monday, September 16th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.86%. The ex-dividend date was Monday, September 16th. Pembina Pipeline’s dividend payout ratio (DPR) is 88.70%.

Analyst Ratings Changes

Several research analysts have recently issued reports on PBA shares. Citigroup increased their target price on Pembina Pipeline from $53.00 to $56.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 28th. UBS Group assumed coverage on Pembina Pipeline in a report on Wednesday, September 11th. They issued a “neutral” rating for the company. Four investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $56.50.

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.