Gulf International Bank UK Ltd Has $69,000 Stock Holdings in Pembina Pipeline Co. (NYSE:PBA)

Gulf International Bank UK Ltd lowered its stake in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 57.6% during the third quarter, Holdings Channel.com reports. The fund owned 1,697 shares of the pipeline company’s stock after selling 2,302 shares during the period. Gulf International Bank UK Ltd’s holdings in Pembina Pipeline were worth $69,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. grew its stake in Pembina Pipeline by 2.1% in the first quarter. Vanguard Group Inc. now owns 22,053,531 shares of the pipeline company’s stock valued at $779,372,000 after purchasing an additional 460,761 shares in the last quarter. Toronto Dominion Bank grew its stake in shares of Pembina Pipeline by 97.2% in the second quarter. Toronto Dominion Bank now owns 8,938,488 shares of the pipeline company’s stock valued at $331,439,000 after buying an additional 4,405,792 shares in the last quarter. Canada Pension Plan Investment Board increased its holdings in Pembina Pipeline by 56.9% during the second quarter. Canada Pension Plan Investment Board now owns 8,387,525 shares of the pipeline company’s stock worth $311,142,000 after buying an additional 3,043,200 shares during the last quarter. ClearBridge Investments Ltd raised its position in Pembina Pipeline by 12.3% during the first quarter. ClearBridge Investments Ltd now owns 7,173,059 shares of the pipeline company’s stock worth $253,496,000 after acquiring an additional 784,814 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its stake in Pembina Pipeline by 7.5% in the second quarter. CIBC Asset Management Inc now owns 5,924,706 shares of the pipeline company’s stock valued at $219,689,000 after acquiring an additional 414,419 shares during the last quarter. Institutional investors own 55.37% of the company’s stock.

Pembina Pipeline Stock Performance

Shares of PBA stock opened at $40.97 on Friday. Pembina Pipeline Co. has a 52 week low of $31.51 and a 52 week high of $43.44. The company has a market capitalization of $23.78 billion, a price-to-earnings ratio of 16.93 and a beta of 1.25. The company has a 50-day simple moving average of $41.63 and a 200 day simple moving average of $38.85. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.55 and a current ratio of 0.65.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last issued its quarterly earnings data on Thursday, August 8th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.21. The company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.44 billion. Pembina Pipeline had a return on equity of 13.62% and a net margin of 25.39%. The business’s revenue was up 30.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.45 earnings per share. On average, sell-side analysts predict that Pembina Pipeline Co. will post 2.38 earnings per share for the current year.

Pembina Pipeline Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be paid a $0.69 dividend. The ex-dividend date is Monday, December 16th. This is an increase from Pembina Pipeline’s previous quarterly dividend of $0.50. This represents a $2.76 annualized dividend and a yield of 6.74%. Pembina Pipeline’s payout ratio is 84.30%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PBA. UBS Group started coverage on shares of Pembina Pipeline in a research note on Wednesday, September 11th. They set a “neutral” rating on the stock. Raymond James initiated coverage on Pembina Pipeline in a research report on Friday, October 11th. They set an “outperform” rating on the stock. Finally, Citigroup raised their price objective on Pembina Pipeline from $53.00 to $56.00 and gave the company a “neutral” rating in a research report on Wednesday, August 28th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $56.50.

Pembina Pipeline Profile

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.