Point72 Europe London LLP Sells 85,710 Shares of Pembina Pipeline Co. (NYSE:PBA)

Point72 Europe London LLP reduced its stake in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 18.1% during the 4th quarter, Holdings Channel reports. The firm owned 388,863 shares of the pipeline company’s stock after selling 85,710 shares during the period. Point72 Europe London LLP’s holdings in Pembina Pipeline were worth $14,359,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Norges Bank bought a new stake in Pembina Pipeline during the fourth quarter worth about $171,860,000. Arrowstreet Capital Limited Partnership acquired a new position in Pembina Pipeline in the 4th quarter valued at approximately $73,073,000. Hillsdale Investment Management Inc. boosted its stake in shares of Pembina Pipeline by 338.7% in the 4th quarter. Hillsdale Investment Management Inc. now owns 1,289,706 shares of the pipeline company’s stock valued at $47,598,000 after purchasing an additional 995,735 shares during the last quarter. AGF Management Ltd. grew its position in shares of Pembina Pipeline by 612.7% during the 4th quarter. AGF Management Ltd. now owns 1,080,853 shares of the pipeline company’s stock worth $40,025,000 after buying an additional 929,206 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Pembina Pipeline by 30.4% during the fourth quarter. Geode Capital Management LLC now owns 3,539,660 shares of the pipeline company’s stock worth $133,449,000 after buying an additional 824,232 shares during the last quarter. 55.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on PBA shares. TD Securities started coverage on Pembina Pipeline in a report on Wednesday, January 15th. They set a “buy” rating for the company. Citigroup raised Pembina Pipeline from a “neutral” rating to a “buy” rating in a research note on Monday, March 10th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $56.00.

Pembina Pipeline Stock Performance

Shares of NYSE PBA opened at $37.31 on Thursday. The firm has a 50 day moving average of $38.34 and a 200 day moving average of $38.37. The company has a current ratio of 0.65, a quick ratio of 0.51 and a debt-to-equity ratio of 0.79. Pembina Pipeline Co. has a 12-month low of $34.13 and a 12-month high of $43.44. The firm has a market capitalization of $21.67 billion, a price-to-earnings ratio of 15.42 and a beta of 0.81.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last announced its quarterly earnings results on Thursday, May 8th. The pipeline company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.23. Pembina Pipeline had a net margin of 25.39% and a return on equity of 13.62%. The company had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.47 billion. During the same quarter in the previous year, the business posted $0.73 earnings per share. Pembina Pipeline’s quarterly revenue was up 48.2% on a year-over-year basis. On average, research analysts anticipate that Pembina Pipeline Co. will post 2.15 earnings per share for the current year.

Pembina Pipeline Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be issued a dividend of $0.5109 per share. This is an increase from Pembina Pipeline’s previous quarterly dividend of $0.48. This represents a $2.04 annualized dividend and a yield of 5.48%. The ex-dividend date of this dividend is Monday, June 16th. Pembina Pipeline’s dividend payout ratio (DPR) is presently 89.14%.

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.