Northwestern Mutual Wealth Management Co. cut its position in Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 5.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,058 shares of the pipeline company’s stock after selling 700 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Pembina Pipeline Corp. were worth $432,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. HighTower Advisors LLC raised its position in shares of Pembina Pipeline Corp. by 1.2% during the 1st quarter. HighTower Advisors LLC now owns 7,730 shares of the pipeline company’s stock valued at $245,000 after buying an additional 93 shares in the last quarter. Girard Partners LTD. raised its position in shares of Pembina Pipeline Corp. by 0.9% during the 2nd quarter. Girard Partners LTD. now owns 11,498 shares of the pipeline company’s stock valued at $381,000 after buying an additional 97 shares in the last quarter. Sei Investments Co. raised its position in shares of Pembina Pipeline Corp. by 0.5% during the 2nd quarter. Sei Investments Co. now owns 24,708 shares of the pipeline company’s stock valued at $818,000 after buying an additional 125 shares in the last quarter. Janney Montgomery Scott LLC raised its position in shares of Pembina Pipeline Corp. by 1.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 7,578 shares of the pipeline company’s stock valued at $240,000 after buying an additional 128 shares in the last quarter. Finally, Cornerstone Wealth Management LLC raised its position in shares of Pembina Pipeline Corp. by 2.4% during the 1st quarter. Cornerstone Wealth Management LLC now owns 7,129 shares of the pipeline company’s stock valued at $228,000 after buying an additional 164 shares in the last quarter. Institutional investors and hedge funds own 49.96% of the company’s stock.

Several analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Pembina Pipeline Corp. from a “hold” rating to a “strong-buy” rating and set a $38.00 price objective on the stock in a research report on Thursday, July 6th. BidaskClub cut shares of Pembina Pipeline Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. Finally, AltaCorp Capital upgraded shares of Pembina Pipeline Corp. from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, July 19th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $43.00.

Shares of Pembina Pipeline Corp. (PBA) opened at 34.07 on Friday. Pembina Pipeline Corp. has a 52-week low of $27.44 and a 52-week high of $34.97. The stock’s 50 day moving average is $32.71 and its 200 day moving average is $32.59. The stock has a market cap of $13.73 billion, a PE ratio of 33.30 and a beta of 0.72.

Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) last released 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). Pembina Pipeline Corp. had a return on equity of 8.60% and a net margin of 12.12%. The company had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.36 billion. During the same period last year, the firm posted $0.25 EPS. Pembina Pipeline Corp.’s quarterly revenue was up 13.5% compared to the same quarter last year. Equities research analysts forecast that Pembina Pipeline Corp. will post $1.44 earnings per share for the current year.

The business also recently announced a monthly dividend, which will be paid on Friday, October 13th. Stockholders of record on Monday, September 25th will be issued a $0.139 dividend. This represents a $1.67 annualized dividend and a dividend yield of 4.90%. The ex-dividend date is Friday, September 22nd. This is an increase from Pembina Pipeline Corp.’s previous monthly dividend of $0.13. Pembina Pipeline Corp.’s payout ratio is 168.04%.

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Pembina Pipeline Corp. Profile

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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