Nexus Investment Management ULC Lowers Stock Position in Pembina Pipeline Co. (NYSE:PBA)

Nexus Investment Management ULC cut its position in shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 71.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,000 shares of the pipeline company’s stock after selling 25,000 shares during the period. Nexus Investment Management ULC’s holdings in Pembina Pipeline were worth $413,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PBA. Vanguard Group Inc. lifted its holdings in Pembina Pipeline by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 21,592,770 shares of the pipeline company’s stock valued at $743,223,000 after purchasing an additional 370,234 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of Pembina Pipeline by 5.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 26,973 shares of the pipeline company’s stock valued at $928,000 after buying an additional 1,437 shares during the last quarter. HighPoint Advisor Group LLC acquired a new stake in shares of Pembina Pipeline in the fourth quarter valued at about $665,000. Mather Group LLC. acquired a new stake in shares of Pembina Pipeline in the first quarter valued at about $88,000. Finally, Cardinal Capital Management Inc. raised its position in shares of Pembina Pipeline by 1.1% in the first quarter. Cardinal Capital Management Inc. now owns 2,666,186 shares of the pipeline company’s stock valued at $94,175,000 after buying an additional 30,102 shares during the last quarter. 55.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PBA has been the subject of a number of recent research reports. UBS Group initiated coverage on shares of Pembina Pipeline in a research report on Wednesday, September 11th. They issued a “neutral” rating for the company. Citigroup increased their target price on shares of Pembina Pipeline from $53.00 to $56.00 and gave the company a “neutral” rating in a research report on Wednesday, August 28th. Finally, Raymond James began coverage on shares of Pembina Pipeline in a research report on Friday, October 11th. They issued an “outperform” rating for the company. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $56.50.

Pembina Pipeline Price Performance

Pembina Pipeline stock opened at $42.38 on Wednesday. Pembina Pipeline Co. has a 12-month low of $30.23 and a 12-month high of $42.90. The stock has a market cap of $24.58 billion, a P/E ratio of 18.43, a PEG ratio of 5.86 and a beta of 1.25. The company has a 50-day moving average price of $40.50 and a 200 day moving average price of $38.01. The company has a current ratio of 0.68, a quick ratio of 0.55 and a debt-to-equity ratio of 0.77.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last released its quarterly earnings data on Thursday, August 8th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.21. Pembina Pipeline had a net margin of 23.50% and a return on equity of 13.68%. The firm had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.44 billion. During the same period last year, the business earned $0.45 earnings per share. Pembina Pipeline’s revenue was up 30.5% compared to the same quarter last year. Sell-side analysts anticipate that Pembina Pipeline Co. will post 2.42 earnings per share for the current year.

Pembina Pipeline Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Monday, September 16th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.72%. The ex-dividend date of this dividend was Monday, September 16th. Pembina Pipeline’s dividend payout ratio is presently 88.70%.

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.