Pembina Pipeline Corp. $PBA Shares Sold by Intact Investment Management Inc.

Intact Investment Management Inc. lessened its stake in shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 0.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,068,624 shares of the pipeline company’s stock after selling 16,240 shares during the period. Pembina Pipeline makes up about 2.5% of Intact Investment Management Inc.’s portfolio, making the stock its 5th biggest position. Intact Investment Management Inc. owned approximately 0.36% of Pembina Pipeline worth $83,649,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. AQR Capital Management LLC purchased a new stake in shares of Pembina Pipeline during the first quarter valued at $374,000. Focus Partners Wealth acquired a new stake in Pembina Pipeline during the 1st quarter worth about $312,000. Wealth Enhancement Advisory Services LLC grew its stake in Pembina Pipeline by 7.4% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 19,531 shares of the pipeline company’s stock valued at $729,000 after purchasing an additional 1,349 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Pembina Pipeline by 2.8% in the second quarter. Assenagon Asset Management S.A. now owns 20,304 shares of the pipeline company’s stock valued at $761,000 after purchasing an additional 544 shares during the period. Finally, Farther Finance Advisors LLC increased its holdings in shares of Pembina Pipeline by 8.9% in the second quarter. Farther Finance Advisors LLC now owns 3,774 shares of the pipeline company’s stock valued at $142,000 after purchasing an additional 307 shares during the period. Hedge funds and other institutional investors own 55.37% of the company’s stock.

Pembina Pipeline Price Performance

NYSE:PBA opened at $40.53 on Monday. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.53 and a quick ratio of 0.41. The company has a 50 day moving average price of $38.27 and a 200-day moving average price of $38.16. Pembina Pipeline Corp. has a 1-year low of $34.13 and a 1-year high of $42.40. The firm has a market cap of $23.55 billion, a price-to-earnings ratio of 20.26 and a beta of 0.66.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last announced 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). Pembina Pipeline had a return on equity of 11.59% and a net margin of 22.17%.The firm had revenue of $911.47 million for the quarter, compared to analysts’ expectations of $1.42 billion. During the same period last year, the company posted $0.60 earnings per share. The business’s quarterly revenue was down 2.9% on a year-over-year basis. Equities research analysts forecast that Pembina Pipeline Corp. will post 2.15 EPS for the current year.

Pembina Pipeline Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 15th were issued a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 7.0%. The ex-dividend date of this dividend was Monday, December 15th. Pembina Pipeline’s payout ratio is presently 101.50%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Zacks Research lowered Pembina Pipeline from a “hold” rating to a “strong sell” rating in a research report on Wednesday, December 24th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Pembina Pipeline in a report on Monday, December 29th. TD Securities reduced their target price on shares of Pembina Pipeline from $65.00 to $60.00 and set a “buy” rating for the company in a report on Tuesday, December 16th. Finally, BMO Capital Markets restated an “outperform” rating on shares of Pembina Pipeline in a research report on Tuesday, December 16th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $60.00.

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.