Raymond James & Associates Lowers Position in Pembina Pipeline Co. (NYSE:PBA)

Raymond James & Associates cut its stake in Pembina Pipeline Co. (NYSE:PBAGet Rating) (TSE:PPL) by 9.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 52,450 shares of the pipeline company’s stock after selling 5,709 shares during the quarter. Raymond James & Associates’ holdings in Pembina Pipeline were worth $1,593,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. EdgeRock Capital LLC purchased a new stake in shares of Pembina Pipeline in the third quarter worth approximately $41,000. Venture Visionary Partners LLC purchased a new stake in shares of Pembina Pipeline in the second quarter worth approximately $77,000. SeaCrest Wealth Management LLC purchased a new stake in shares of Pembina Pipeline in the second quarter worth approximately $104,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its stake in shares of Pembina Pipeline by 27.9% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 3,410 shares of the pipeline company’s stock worth $121,000 after purchasing an additional 744 shares during the last quarter. Finally, M&R Capital Management Inc. grew its holdings in shares of Pembina Pipeline by 23.9% in the third quarter. M&R Capital Management Inc. now owns 3,530 shares of the pipeline company’s stock valued at $107,000 after acquiring an additional 680 shares in the last quarter. 55.08% of the stock is owned by hedge funds and other institutional investors.

Pembina Pipeline Price Performance

Shares of NYSE PBA opened at $35.56 on Wednesday. The stock has a fifty day simple moving average of $34.69 and a two-hundred day simple moving average of $34.65. Pembina Pipeline Co. has a 1-year low of $29.64 and a 1-year high of $42.74. The firm has a market cap of $19.57 billion, a price-to-earnings ratio of 9.56, a price-to-earnings-growth ratio of 5.68 and a beta of 1.25. The company has a current ratio of 0.69, a quick ratio of 0.57 and a debt-to-equity ratio of 0.69.

Pembina Pipeline (NYSE:PBAGet Rating) (TSE:PPL) last announced its quarterly earnings data on Thursday, November 3rd. The pipeline company reported $1.27 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.79. Pembina Pipeline had a return on equity of 15.07% and a net margin of 23.90%. The business had revenue of $2.13 billion during the quarter. Analysts anticipate that Pembina Pipeline Co. will post 4.17 earnings per share for the current year.

Pembina Pipeline Increases Dividend

The business also recently declared a monthly dividend, which was paid on Friday, December 30th. Stockholders of record on Thursday, December 15th were issued a $0.1614 dividend. This is a positive change from Pembina Pipeline’s previous monthly dividend of $0.16. This represents a $1.94 dividend on an annualized basis and a dividend yield of 5.45%. The ex-dividend date was Wednesday, December 14th. Pembina Pipeline’s dividend payout ratio (DPR) is presently 52.42%.

Wall Street Analysts Forecast Growth

PBA has been the subject of several recent analyst reports. Credit Suisse Group lowered Pembina Pipeline from an “outperform” rating to a “neutral” rating in a report on Friday, December 9th. National Bank Financial upped their target price on Pembina Pipeline from C$45.00 to C$46.00 in a report on Monday, November 7th. TheStreet raised Pembina Pipeline from a “c+” rating to a “b-” rating in a report on Thursday, November 17th. Scotiabank reduced their target price on Pembina Pipeline from C$55.00 to C$50.00 in a report on Thursday, October 20th. Finally, Raymond James upped their target price on Pembina Pipeline from C$46.00 to C$47.00 in a report on Tuesday, December 13th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $52.29.

About Pembina Pipeline

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Pembina Pipeline Corp. engages in the provision of transportation and midstream services. It operates through the following segments: Pipelines, Facilities, Marketing and New Ventures, and Corporate. The Pipelines segment includes conventional, oil sands and transmission pipeline systems, crude oil storage and terminalling business and related infrastructure.

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

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