Arrowstreet Capital Limited Partnership Sells 1,543,659 Shares of Pembina Pipeline Corp. $PBA

Arrowstreet Capital Limited Partnership decreased its holdings in shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 57.5% during the second quarter, according to its most recent filing with the SEC. The firm owned 1,141,708 shares of the pipeline company’s stock after selling 1,543,659 shares during the period. Arrowstreet Capital Limited Partnership owned 0.20% of Pembina Pipeline worth $42,857,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Westerkirk Capital Inc. bought a new position in shares of Pembina Pipeline during the second quarter valued at approximately $1,118,000. Quantbot Technologies LP lifted its holdings in Pembina Pipeline by 66.3% during the second quarter. Quantbot Technologies LP now owns 76,566 shares of the pipeline company’s stock worth $2,872,000 after buying an additional 30,523 shares during the period. M&T Bank Corp boosted its position in Pembina Pipeline by 0.3% during the 2nd quarter. M&T Bank Corp now owns 110,885 shares of the pipeline company’s stock valued at $4,159,000 after acquiring an additional 351 shares in the last quarter. Norges Bank purchased a new position in shares of Pembina Pipeline in the 2nd quarter valued at $229,613,000. Finally, Scotia Capital Inc. increased its holdings in shares of Pembina Pipeline by 9.1% in the 2nd quarter. Scotia Capital Inc. now owns 5,707,714 shares of the pipeline company’s stock valued at $214,245,000 after acquiring an additional 476,933 shares during the period. Institutional investors own 55.37% of the company’s stock.

Pembina Pipeline Stock Up 0.8%

PBA stock opened at $39.57 on Friday. The stock has a market capitalization of $22.99 billion, a PE ratio of 19.78 and a beta of 0.63. Pembina Pipeline Corp. has a 52 week low of $34.13 and a 52 week high of $42.40. The company has a quick ratio of 0.41, a current ratio of 0.53 and a debt-to-equity ratio of 0.77. The firm has a 50 day moving average of $38.65 and a 200 day moving average of $37.96.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last posted its quarterly earnings results on Thursday, November 6th. The pipeline company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.14). The business had revenue of $911.47 million for the quarter, compared to analysts’ expectations of $1.42 billion. Pembina Pipeline had a return on equity of 11.59% and a net margin of 22.17%.The business’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.60 earnings per share. Sell-side analysts forecast that Pembina Pipeline Corp. will post 2.15 earnings per share for the current year.

Pembina Pipeline Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 7.2%. The ex-dividend date of this dividend is Monday, December 15th. Pembina Pipeline’s dividend payout ratio (DPR) is presently 103.50%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Pembina Pipeline in a research report on Monday. BMO Capital Markets reissued an “outperform” rating on shares of Pembina Pipeline in a research report on Monday, August 11th. Wall Street Zen cut shares of Pembina Pipeline from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Finally, Raymond James Financial reaffirmed an “outperform” rating on shares of Pembina Pipeline in a research report on Monday, August 11th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy”.

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.