Connor Clark & Lunn Investment Management Ltd. Sells 1,786,047 Shares of Pembina Pipeline Corp. $PBA

Connor Clark & Lunn Investment Management Ltd. trimmed its position in shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 44.2% during the third quarter, HoldingsChannel.com reports. The firm owned 2,252,234 shares of the pipeline company’s stock after selling 1,786,047 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Pembina Pipeline were worth $91,044,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in PBA. JARISLOWSKY FRASER Ltd boosted its position in Pembina Pipeline by 1,894.9% during the 3rd quarter. JARISLOWSKY FRASER Ltd now owns 8,814,455 shares of the pipeline company’s stock worth $356,468,000 after buying an additional 8,372,612 shares during the period. Norges Bank bought a new stake in Pembina Pipeline during the 2nd quarter worth approximately $229,613,000. CIBC Asset Management Inc increased its position in Pembina Pipeline by 47.4% in the 2nd quarter. CIBC Asset Management Inc now owns 7,547,536 shares of the pipeline company’s stock valued at $283,823,000 after acquiring an additional 2,427,939 shares during the period. MUFG Securities EMEA plc acquired a new position in Pembina Pipeline in the 2nd quarter valued at approximately $52,514,000. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Pembina Pipeline by 29.4% during the second quarter. The Manufacturers Life Insurance Company now owns 5,169,664 shares of the pipeline company’s stock valued at $193,094,000 after acquiring an additional 1,174,204 shares during the last quarter. Institutional investors and hedge funds own 55.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Zacks Research upgraded shares of Pembina Pipeline from a “strong sell” rating to a “hold” rating in a report on Friday, January 23rd. BMO Capital Markets reaffirmed a “market perform” rating on shares of Pembina Pipeline in a research report on Friday, February 27th. Weiss Ratings raised Pembina Pipeline from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 2nd. Finally, TD Securities lowered Pembina Pipeline from a “buy” rating to a “hold” rating in a research report on Tuesday, February 17th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $60.00.

Pembina Pipeline Stock Down 0.2%

Shares of NYSE PBA opened at $44.52 on Thursday. The company has a market capitalization of $25.87 billion, a P/E ratio of 23.43 and a beta of 0.68. Pembina Pipeline Corp. has a 52-week low of $34.13 and a 52-week high of $45.09. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.47 and a current ratio of 0.61. The company’s 50 day moving average price is $41.59 and its 200-day moving average price is $39.62.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last posted its quarterly earnings data on Thursday, February 26th. The pipeline company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.06. Pembina Pipeline had a net margin of 21.76% and a return on equity of 11.17%. The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same period in the prior year, the company posted $0.92 earnings per share. Pembina Pipeline’s revenue for the quarter was down 10.8% compared to the same quarter last year. Equities analysts forecast that Pembina Pipeline Corp. will post 2.15 earnings per share for the current year.

Pembina Pipeline Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 6.4%. The ex-dividend date is Monday, March 16th. Pembina Pipeline’s dividend payout ratio (DPR) is presently 106.84%.

Pembina Pipeline Profile

Pembina Pipeline Corporation (NYSE: PBA) is a North American energy infrastructure company that develops, owns and operates midstream assets that transport, store and process hydrocarbons. Its core business focuses on the transportation of crude oil, natural gas liquids (NGLs) and condensate, along with gas processing, fractionation, storage and related marketing services. Pembina serves producers, refiners and other energy companies by providing pipeline capacity, terminal services and midstream solutions that link upstream production to downstream markets and export facilities.

The company’s asset base is concentrated in Western Canada, including major operations in Alberta and British Columbia, and it also has operations and commercial activities that extend into the United States.