Goldman Sachs Group Inc. cut its stake in shares of Pembina Pipeline Corp. (NYSE:PBA – Free Report) (TSE:PPL) by 36.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,008,528 shares of the pipeline company’s stock after selling 2,281,037 shares during the quarter. Goldman Sachs Group Inc. owned 0.69% of Pembina Pipeline worth $152,565,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also bought and sold shares of the company. AQR Capital Management LLC bought a new stake in shares of Pembina Pipeline during the 1st quarter worth $374,000. Focus Partners Wealth purchased a new stake in Pembina Pipeline during the first quarter valued at about $312,000. Marshall Wace LLP bought a new stake in Pembina Pipeline during the second quarter worth about $253,000. Cresset Asset Management LLC boosted its holdings in shares of Pembina Pipeline by 4.1% in the 2nd quarter. Cresset Asset Management LLC now owns 13,684 shares of the pipeline company’s stock worth $513,000 after purchasing an additional 534 shares in the last quarter. Finally, AXA S.A. boosted its holdings in shares of Pembina Pipeline by 17.5% in the 2nd quarter. AXA S.A. now owns 23,418 shares of the pipeline company’s stock worth $878,000 after purchasing an additional 3,488 shares in the last quarter. Hedge funds and other institutional investors own 55.37% of the company’s stock.
Analyst Ratings Changes
PBA has been the subject of several research reports. Royal Bank Of Canada upped their target price on Pembina Pipeline from $64.00 to $68.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. Barclays restated an “overweight” rating on shares of Pembina Pipeline in a report on Thursday, May 21st. TD Securities raised shares of Pembina Pipeline from a “hold” rating to a “buy” rating in a research note on Tuesday, May 26th. Wall Street Zen raised shares of Pembina Pipeline from a “sell” rating to a “hold” rating in a report on Sunday, May 10th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Pembina Pipeline from $55.00 to $60.00 and gave the stock a “neutral” rating in a research report on Thursday, March 19th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $62.67.
Pembina Pipeline Price Performance
Shares of Pembina Pipeline stock opened at $48.85 on Monday. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.83 and a quick ratio of 0.68. The business’s 50 day simple moving average is $45.93 and its two-hundred day simple moving average is $42.60. The stock has a market capitalization of $28.40 billion, a P/E ratio of 25.44 and a beta of 0.57. Pembina Pipeline Corp. has a one year low of $35.45 and a one year high of $50.10.
Pembina Pipeline (NYSE:PBA – Get Free Report) (TSE:PPL) last released its quarterly earnings data on Thursday, May 7th. The pipeline company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.07. Pembina Pipeline had a return on equity of 11.47% and a net margin of 22.22%.The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the prior year, the firm posted $0.80 earnings per share. The business’s quarterly revenue was down 7.7% compared to the same quarter last year. Analysts forecast that Pembina Pipeline Corp. will post 2.28 EPS for the current year.
Pembina Pipeline Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be issued a dividend of $0.735 per share. The ex-dividend date is Monday, June 15th. This represents a $2.94 dividend on an annualized basis and a yield of 6.0%. This is an increase from Pembina Pipeline’s previous quarterly dividend of $0.71. Pembina Pipeline’s dividend payout ratio (DPR) is currently 108.33%.
About Pembina Pipeline
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.
Featured Articles
- Five stocks we like better than Pembina Pipeline
- These 3 Insurance Stocks Made New 52-Week Highs: Still Time to Buy?
- 3 Stocks Under $20 to Buy Before a Broader Market Rally
- Petco Faces Tough Competition, But Momentum Is Building
- The Lock-In Effect Is Real—These 3 Homebuilders Are Betting on It
Receive News & Ratings for Pembina Pipeline Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pembina Pipeline and related companies with MarketBeat.com's FREE daily email newsletter.
