Mediolanum International Funds Ltd Reduces Stake in Pembina Pipeline Co. (NYSE:PBA)

Mediolanum International Funds Ltd reduced its stake in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 1.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 33,757 shares of the pipeline company’s stock after selling 655 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Pembina Pipeline were worth $1,392,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Quantbot Technologies LP grew its holdings 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 worth $1,143,000 after purchasing an additional 32,045 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Pembina Pipeline by 2.4% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,284,326 shares of the pipeline company’s stock worth $45,360,000 after purchasing an additional 29,743 shares during the period. Cetera Advisors LLC grew its holdings in shares of Pembina Pipeline by 248.9% during the 1st quarter. Cetera Advisors LLC now owns 31,948 shares of the pipeline company’s stock worth $1,129,000 after purchasing an additional 22,790 shares during the period. Hillsdale Investment Management Inc. grew its holdings in shares of Pembina Pipeline by 13,721.7% during the 1st quarter. Hillsdale Investment Management Inc. now owns 72,702 shares of the pipeline company’s stock worth $2,567,000 after purchasing an additional 72,176 shares during the period. Finally, Intech Investment Management LLC purchased a new position in shares of Pembina Pipeline during the 1st quarter worth $1,387,000. 55.37% of the stock is currently owned by hedge funds and other institutional investors.

Pembina Pipeline Price Performance

PBA opened at $42.50 on Monday. The stock’s 50-day moving average price is $41.23 and its 200 day moving average price is $38.42. Pembina Pipeline Co. has a 12-month low of $30.25 and a 12-month high of $43.44. The company has a current ratio of 0.68, a quick ratio of 0.55 and a debt-to-equity ratio of 0.77. The firm has a market cap of $24.65 billion, a price-to-earnings ratio of 18.48, a PEG ratio of 5.97 and a beta of 1.25.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last posted its quarterly earnings results 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. The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.44 billion. Pembina Pipeline had a return on equity of 13.68% and a net margin of 23.50%. Pembina Pipeline’s revenue for the quarter was up 30.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.45 EPS. As a group, sell-side analysts expect that Pembina Pipeline Co. will post 2.4 earnings per share for the current year.

Pembina Pipeline Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Monday, September 16th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.71%. The ex-dividend date was Monday, September 16th. Pembina Pipeline’s dividend payout ratio is currently 88.70%.

Wall Street Analyst Weigh In

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

Pembina Pipeline Company 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.