Montag A & Associates Inc. cut its stake in shares of Pembina Pipeline Co. (NYSE:PBA – Get Rating) (TSE:PPL) by 14.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,575 shares of the pipeline company’s stock after selling 2,000 shares during the period. Montag A & Associates Inc.’s holdings in Pembina Pipeline were worth $351,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Morgan Stanley boosted its stake in shares of Pembina Pipeline by 74.2% in the second quarter. Morgan Stanley now owns 1,216,477 shares of the pipeline company’s stock valued at $38,648,000 after purchasing an additional 518,045 shares during the period. Advisor Group Holdings Inc. boosted its stake in shares of Pembina Pipeline by 29.7% in the third quarter. Advisor Group Holdings Inc. now owns 37,045 shares of the pipeline company’s stock valued at $1,175,000 after purchasing an additional 8,481 shares during the period. Moors & Cabot Inc. boosted its stake in shares of Pembina Pipeline by 411.2% in the third quarter. Moors & Cabot Inc. now owns 33,225 shares of the pipeline company’s stock valued at $526,000 after purchasing an additional 26,725 shares during the period. Toronto Dominion Bank boosted its stake in shares of Pembina Pipeline by 16.3% in the third quarter. Toronto Dominion Bank now owns 11,520,918 shares of the pipeline company’s stock valued at $376,179,000 after purchasing an additional 1,611,494 shares during the period. Finally, Ieq Capital LLC boosted its stake in shares of Pembina Pipeline by 33.5% in the third quarter. Ieq Capital LLC now owns 11,804 shares of the pipeline company’s stock valued at $374,000 after purchasing an additional 2,962 shares during the period. Institutional investors and hedge funds own 55.44% of the company’s stock.
Several research analysts have recently commented on the stock. Raymond James raised their price objective on shares of Pembina Pipeline from C$43.50 to C$44.50 in a research note on Tuesday, March 1st. BMO Capital Markets upgraded shares of Pembina Pipeline from a “market perform” rating to an “outperform” rating in a research note on Tuesday, March 1st. Credit Suisse Group upgraded shares of Pembina Pipeline from a “neutral” rating to an “outperform” rating in a research note on Monday, April 11th. Royal Bank of Canada lifted their price target on shares of Pembina Pipeline from C$48.00 to C$49.00 in a research note on Thursday, March 3rd. Finally, Canaccord Genuity Group lifted their price target on shares of Pembina Pipeline from C$47.00 to C$49.00 in a research note on Wednesday, March 2nd. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Pembina Pipeline has a consensus rating of “Buy” and an average price target of $45.25.
Pembina Pipeline (NYSE:PBA – Get Rating) (TSE:PPL) last issued its quarterly earnings data on Thursday, February 24th. The pipeline company reported $0.06 earnings per share for the quarter. The business had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $1.94 billion. Pembina Pipeline had a net margin of 13.81% and a return on equity of 10.00%. The company’s revenue was up 52.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.42 EPS. As a group, equities research analysts predict that Pembina Pipeline Co. will post 2.19 EPS for the current fiscal year.
The firm also recently announced a monthly dividend, which will be paid on Friday, May 13th. Stockholders of record on Monday, April 25th will be issued a $0.168 dividend. This represents a $2.02 dividend on an annualized basis and a dividend yield of 5.16%. This is a boost from Pembina Pipeline’s previous monthly dividend of $0.17. The ex-dividend date is Friday, April 22nd. Pembina Pipeline’s payout ratio is presently 128.03%.
Pembina Pipeline Profile (Get Rating)
Pembina Pipeline Corporation provides transportation and midstream services for the energy industry. 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 3.1 millions of barrels of oil equivalent per day, ground storage of 11 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.
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