Pembina Pipeline Corp. $PBA Stock Position Lowered by Van ECK Associates Corp

Van ECK Associates Corp trimmed its position in shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 6.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 334,019 shares of the pipeline company’s stock after selling 24,005 shares during the period. Van ECK Associates Corp owned 0.06% of Pembina Pipeline worth $15,448,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in PBA. Empowered Funds LLC boosted its position in shares of Pembina Pipeline by 1.0% in the fourth quarter. Empowered Funds LLC now owns 24,449 shares of the pipeline company’s stock worth $931,000 after buying an additional 248 shares during the period. Larson Financial Group LLC raised its position in Pembina Pipeline by 32.4% during the third quarter. Larson Financial Group LLC now owns 1,059 shares of the pipeline company’s stock valued at $43,000 after buying an additional 259 shares during the period. Ethic Inc. raised its position in Pembina Pipeline by 2.0% during the fourth quarter. Ethic Inc. now owns 14,150 shares of the pipeline company’s stock valued at $539,000 after buying an additional 278 shares during the period. Broderick Brian C lifted its stake in Pembina Pipeline by 0.9% in the 1st quarter. Broderick Brian C now owns 32,823 shares of the pipeline company’s stock worth $1,469,000 after acquiring an additional 300 shares in the last quarter. Finally, Brown Brothers Harriman & Co. grew its stake in Pembina Pipeline by 3.6% during the 4th quarter. Brown Brothers Harriman & Co. now owns 9,768 shares of the pipeline company’s stock valued at $372,000 after acquiring an additional 341 shares in the last quarter. 55.37% of the stock is owned by institutional investors and hedge funds.

Pembina Pipeline Trading Up 1.5%

NYSE:PBA opened at $48.72 on Tuesday. The company has a market capitalization of $28.33 billion, a P/E ratio of 23.88 and a beta of 0.57. The stock’s 50 day moving average price is $48.64 and its 200 day moving average price is $46.65. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.50 and a current ratio of 0.62. Pembina Pipeline Corp. has a 52 week low of $36.20 and a 52 week high of $51.58.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last posted its earnings results on Thursday, July 30th. The pipeline company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). Pembina Pipeline had a net margin of 22.41% and a return on equity of 11.41%. The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same quarter last year, the firm earned $0.65 earnings per share. Pembina Pipeline’s revenue was up 20.1% compared to the same quarter last year. On average, research analysts forecast that Pembina Pipeline Corp. will post 2.23 EPS for the current fiscal year.

Pembina Pipeline Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be paid a $0.735 dividend. This represents a $2.94 annualized dividend and a dividend yield of 6.0%. The ex-dividend date of this dividend is Tuesday, September 15th. Pembina Pipeline’s payout ratio is presently 104.41%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Wall Street Zen raised shares of Pembina Pipeline from a “sell” rating to a “hold” rating in a research report on Saturday, July 25th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Pembina Pipeline in a research report on Friday, July 3rd. TD Securities reiterated a “buy” rating on shares of Pembina Pipeline in a research note on Thursday, July 16th. Weiss Ratings downgraded shares of Pembina Pipeline from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, August 18th. Finally, Barclays reissued an “overweight” rating on shares of Pembina Pipeline in a research note on Thursday, May 21st. Five research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Pembina Pipeline presently has a consensus rating of “Moderate Buy” and an average target price of $64.00.

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.