Ethic Inc. Reduces Stake in Pembina Pipeline Corp. $PBA

Ethic Inc. cut its holdings in shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 8.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,501 shares of the pipeline company’s stock after selling 479 shares during the quarter. Ethic Inc.’s holdings in Pembina Pipeline were worth $205,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in PBA. First Horizon Advisors Inc. grew its position in Pembina Pipeline by 69.9% during the 1st quarter. First Horizon Advisors Inc. now owns 673 shares of the pipeline company’s stock worth $27,000 after purchasing an additional 277 shares during the period. N.E.W. Advisory Services LLC acquired a new stake in Pembina Pipeline during the first quarter worth about $27,000. Larson Financial Group LLC raised its position in Pembina Pipeline by 53.4% during the first quarter. Larson Financial Group LLC now owns 1,341 shares of the pipeline company’s stock valued at $54,000 after acquiring an additional 467 shares in the last quarter. Ameritas Advisory Services LLC purchased a new position in Pembina Pipeline during the second quarter valued at approximately $66,000. Finally, Hexagon Capital Partners LLC lifted its holdings in Pembina Pipeline by 17.0% in the first quarter. Hexagon Capital Partners LLC now owns 2,397 shares of the pipeline company’s stock valued at $96,000 after acquiring an additional 349 shares during the period. 55.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Wall Street Zen cut Pembina Pipeline from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Wells Fargo & Company cut Pembina Pipeline from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 6th. Jefferies Financial Group lowered Pembina Pipeline from a “buy” rating to a “hold” rating in a research report on Wednesday, July 23rd. BMO Capital Markets reissued an “outperform” rating on shares of Pembina Pipeline in a research note on Monday, August 11th. Finally, Raymond James Financial reissued an “outperform” rating on shares of Pembina Pipeline in a report on Monday, August 11th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Pembina Pipeline currently has a consensus rating of “Moderate Buy”.

Pembina Pipeline Stock Performance

Shares of Pembina Pipeline stock opened at $37.85 on Friday. The firm has a market cap of $21.99 billion, a PE ratio of 17.77 and a beta of 0.76. The company has a quick ratio of 0.62, a current ratio of 0.77 and a debt-to-equity ratio of 0.81. Pembina Pipeline Corp. has a 52 week low of $34.13 and a 52 week high of $43.44. The business’s fifty day simple moving average is $38.88 and its 200-day simple moving average is $37.93.

Pembina Pipeline Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 15th were paid a $0.71 dividend. The ex-dividend date of this dividend was Monday, September 15th. This is a boost from Pembina Pipeline’s previous quarterly dividend of $0.51. This represents a $2.84 dividend on an annualized basis and a dividend yield of 7.5%. Pembina Pipeline’s payout ratio is presently 97.18%.

Pembina Pipeline Company Profile

Pembina Pipeline Corporation provides energy transportation and midstream services. It operates through three segments: Pipelines, Facilities, and Marketing & New Ventures. The Pipelines segment operates conventional, oil sands and heavy oil, and transmission assets with a transportation capacity of 2.9 millions of barrels of oil equivalent per day, the ground storage capacity of 10 millions of barrels, and rail terminalling capacity of approximately 105 thousands of barrels of oil equivalent per day serving markets and basins across North America.