Davis Rea Ltd. cut its position in shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 0.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,648 shares of the pipeline company’s stock after selling 175 shares during the period. Davis Rea Ltd.’s holdings in Pembina Pipeline Corp. were worth $1,250,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. TD Asset Management Inc. increased its position in shares of Pembina Pipeline Corp. by 0.5% in the second quarter. TD Asset Management Inc. now owns 5,619,175 shares of the pipeline company’s stock worth $185,835,000 after buying an additional 29,382 shares during the last quarter. Beach Investment Counsel Inc. PA bought a new position in shares of Pembina Pipeline Corp. during the second quarter worth approximately $494,000. Lucas Capital Management increased its position in shares of Pembina Pipeline Corp. by 3.3% in the second quarter. Lucas Capital Management now owns 15,490 shares of the pipeline company’s stock worth $513,000 after buying an additional 500 shares during the last quarter. Korea Investment CORP increased its position in shares of Pembina Pipeline Corp. by 199.3% in the second quarter. Korea Investment CORP now owns 124,081 shares of the pipeline company’s stock worth $4,104,000 after buying an additional 82,621 shares during the last quarter. Finally, Candriam Luxembourg S.C.A. increased its position in shares of Pembina Pipeline Corp. by 96.7% in the second quarter. Candriam Luxembourg S.C.A. now owns 56,388 shares of the pipeline company’s stock worth $1,865,000 after buying an additional 27,724 shares during the last quarter. Institutional investors own 46.73% of the company’s stock.

Pembina Pipeline Corp. (NYSE PBA) opened at 32.99 on Thursday. The firm has a market capitalization of $13.29 billion, a P/E ratio of 32.34 and a beta of 0.71. Pembina Pipeline Corp. has a 12 month low of $27.44 and a 12 month high of $34.97. The stock’s 50 day moving average price is $33.51 and its 200 day moving average price is $32.46.

Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) last issued its earnings results on Tuesday, August 1st. The pipeline company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.27 by $0.08. The firm had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.36 billion. Pembina Pipeline Corp. had a net margin of 12.12% and a return on equity of 8.59%. Pembina Pipeline Corp.’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.25 earnings per share. On average, analysts forecast that Pembina Pipeline Corp. will post $1.36 earnings per share for the current year.

The company also recently announced a aug 17 dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, August 25th will be given a $0.17 dividend. This represents a dividend yield of 4.85%. The ex-dividend date is Wednesday, August 23rd. Pembina Pipeline Corp.’s payout ratio is presently 161.86%.

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PBA has been the subject of several analyst reports. Zacks Investment Research downgraded Pembina Pipeline Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday. BidaskClub downgraded Pembina Pipeline Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. Finally, AltaCorp Capital upgraded Pembina Pipeline Corp. from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, July 19th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Pembina Pipeline Corp. currently has an average rating of “Buy” and a consensus target price of $43.50.

About Pembina Pipeline Corp.

Pembina Pipeline Corporation is an energy transportation and service provider. The Company operates through four segments. The Conventional Pipelines segment consists of the tariff-based operations of pipelines and related facilities to deliver crude oil, condensate and natural gas liquids (NGL) in Alberta, British Columbia, Saskatchewan, and North Dakota, United States.

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Institutional Ownership by Quarter for Pembina Pipeline Corp. (NYSE:PBA)

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