First Trust Advisors LP Trims Stock Position in Pembina Pipeline Corp. $PBA

First Trust Advisors LP decreased its stake in Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 15.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 982,865 shares of the pipeline company’s stock after selling 185,395 shares during the period. First Trust Advisors LP owned 0.17% of Pembina Pipeline worth $43,991,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of PBA. AQR Capital Management LLC purchased a new stake in Pembina Pipeline in the first quarter valued at $374,000. Focus Partners Wealth purchased a new position in shares of Pembina Pipeline during the first quarter worth about $312,000. Marshall Wace LLP purchased a new position in shares of Pembina Pipeline during the second quarter worth about $253,000. Cresset Asset Management LLC increased its position in shares of Pembina Pipeline by 4.1% during the second quarter. Cresset Asset Management LLC now owns 13,684 shares of the pipeline company’s stock worth $513,000 after purchasing an additional 534 shares in the last quarter. Finally, AXA S.A. increased its position in shares of Pembina Pipeline by 17.5% during the second quarter. AXA S.A. now owns 23,418 shares of the pipeline company’s stock worth $878,000 after purchasing an additional 3,488 shares in the last quarter. 55.37% of the stock is owned by hedge funds and other institutional investors.

Pembina Pipeline Price Performance

Shares of NYSE:PBA opened at $49.92 on Tuesday. The company has a 50-day simple moving average of $48.34 and a 200-day simple moving average of $45.13. Pembina Pipeline Corp. has a one year low of $35.45 and a one year high of $51.58. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.68 and a current ratio of 0.83. The stock has a market capitalization of $29.03 billion, a price-to-earnings ratio of 26.00 and a beta of 0.57.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last released its quarterly earnings results on Thursday, May 7th. The pipeline company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.07. The firm had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.06 billion. Pembina Pipeline had a return on equity of 11.47% and a net margin of 22.22%.The business’s revenue was down 7.7% on a year-over-year basis. During the same quarter last year, the company posted $0.80 earnings per share. On average, analysts predict that Pembina Pipeline Corp. will post 2.2 EPS for the current year.

Pembina Pipeline Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were paid a $0.735 dividend. This is an increase from Pembina Pipeline’s previous quarterly dividend of $0.71. The ex-dividend date was Monday, June 15th. This represents a $2.94 annualized dividend and a dividend yield of 5.9%. Pembina Pipeline’s dividend payout ratio (DPR) is 110.94%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Wall Street Zen raised Pembina Pipeline from a “sell” rating to a “hold” rating in a research report on Saturday. Scotiabank lowered Pembina Pipeline from a “sector outperform” rating to a “sector perform” rating in a research report on Monday, July 20th. TD Securities reaffirmed a “buy” rating on shares of Pembina Pipeline in a research report on Thursday, July 16th. Barclays reiterated an “overweight” rating on shares of Pembina Pipeline in a research note on Thursday, May 21st. Finally, Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Pembina Pipeline in a report on Friday, July 3rd. Six equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $64.00.

Pembina Pipeline Company 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.