Great West Life Assurance Co. Can decreased its stake in shares of Pembina Pipeline (NYSE:PBA) (TSE:PPL) by 6.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,583,037 shares of the pipeline company’s stock after selling 234,162 shares during the period. Great West Life Assurance Co. Can owned approximately 0.71% of Pembina Pipeline worth $111,668,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of the company. Tower Research Capital LLC TRC increased its position in shares of Pembina Pipeline by 78.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,979 shares of the pipeline company’s stock worth $144,000 after acquiring an additional 1,755 shares in the last quarter. Envestnet Asset Management Inc. increased its position in shares of Pembina Pipeline by 49.6% during the fourth quarter. Envestnet Asset Management Inc. now owns 6,171 shares of the pipeline company’s stock worth $223,000 after acquiring an additional 2,045 shares in the last quarter. Baskin Financial Services Inc. increased its position in shares of Pembina Pipeline by 0.9% during the first quarter. Baskin Financial Services Inc. now owns 276,473 shares of the pipeline company’s stock worth $8,614,000 after acquiring an additional 2,363 shares in the last quarter. SWS Partners bought a new stake in shares of Pembina Pipeline during the fourth quarter worth $100,000. Finally, Icon Wealth Partners LLC bought a new stake in shares of Pembina Pipeline during the fourth quarter worth $103,000. 45.44% of the stock is owned by institutional investors.
Several equities research analysts have recently issued reports on PBA shares. Zacks Investment Research raised shares of Pembina Pipeline from a “hold” rating to a “strong-buy” rating and set a $39.00 price objective for the company in a research report on Wednesday, February 28th. ValuEngine raised shares of Pembina Pipeline from a “sell” rating to a “hold” rating in a research report on Friday, May 4th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. Pembina Pipeline currently has a consensus rating of “Hold” and a consensus target price of $37.00.
Pembina Pipeline stock opened at $33.36 on Friday. The firm has a market capitalization of $17.31 billion, a P/E ratio of 25.08 and a beta of 0.63. Pembina Pipeline has a 1-year low of $29.28 and a 1-year high of $36.99. The company has a quick ratio of 0.83, a current ratio of 0.95 and a debt-to-equity ratio of 0.65.
Pembina Pipeline (NYSE:PBA) (TSE:PPL) last released its earnings results on Thursday, May 3rd. The pipeline company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.14. The business had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.92 billion. Pembina Pipeline had a net margin of 17.53% and a return on equity of 10.07%. The firm’s revenue for the quarter was up 24.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.49 earnings per share. research analysts anticipate that Pembina Pipeline will post 1.85 earnings per share for the current year.
The firm also recently announced a monthly dividend, which will be paid on Friday, June 15th. Investors of record on Friday, May 25th will be given a $0.148 dividend. The ex-dividend date is Thursday, May 24th. This represents a $1.78 dividend on an annualized basis and a yield of 5.32%. This is an increase from Pembina Pipeline’s previous monthly dividend of $0.14. Pembina Pipeline’s dividend payout ratio (DPR) is 125.56%.
About Pembina Pipeline
Pembina Pipeline Corporation provides transportation and midstream services for the energy industry in North America. It operates through three divisions: Pipelines, Facilities, and Marketing & New Ventures. The company operates approximately 10,000 kilometers of pipeline network that transports hydrocarbon liquids and extends across Alberta and parts of British Columbia, Saskatchewan, and North Dakota; and owns and operates the Nipisi and Mitsue pipelines, which provide transportation for producers operating in the Pelican Lake and Peace River heavy oil regions of Alberta; transports synthetic crude oil for the Syncrude project and the Horizon project to delivery points near Edmonton, Alberta; and operates Cheecham Lateral, which transports synthetic crude to oil sands producers operating southeast of Fort McMurray, Alberta.
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