Van ECK Associates Corp Has $15.45 Million Stake in Pembina Pipeline Corp. $PBA

Van ECK Associates Corp trimmed its stake in Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 6.7% during the second quarter, Holdings Channel reports. The fund owned 334,019 shares of the pipeline company’s stock after selling 24,005 shares during the quarter. Van ECK Associates Corp’s holdings in Pembina Pipeline were worth $15,448,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PBA. Western Wealth Management LLC acquired a new position in Pembina Pipeline during the first quarter valued at approximately $25,000. Dunhill Financial LLC acquired a new stake in shares of Pembina Pipeline in the second quarter worth $31,000. N.E.W. Advisory Services LLC acquired a new stake in shares of Pembina Pipeline in the second quarter worth $31,000. Tobam bought a new stake in shares of Pembina Pipeline during the 4th quarter worth $28,000. Finally, Caitong International Asset Management Co. Ltd bought a new stake in shares of Pembina Pipeline during the 3rd quarter worth $31,000. 55.37% of the stock is currently owned by institutional investors and hedge funds.

Pembina Pipeline Trading Up 1.5%

Shares of Pembina Pipeline stock opened at $48.72 on Tuesday. Pembina Pipeline Corp. has a 1 year low of $36.20 and a 1 year high of $51.58. The company’s fifty day simple moving average is $48.64 and its 200-day simple moving average is $46.65. The company has a market cap of $28.33 billion, a price-to-earnings ratio of 23.88 and a beta of 0.57. The company has a current ratio of 0.62, a quick ratio of 0.50 and a debt-to-equity ratio of 0.78.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last released its earnings results on Thursday, July 30th. The pipeline company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.01). Pembina Pipeline had a net margin of 22.41% and a return on equity of 11.41%. The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the previous year, the company earned $0.65 earnings per share. Pembina Pipeline’s revenue for the quarter was up 20.1% compared to the same quarter last year. As a group, sell-side analysts expect that Pembina Pipeline Corp. will post 2.23 EPS for the current year.

Pembina Pipeline Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be issued a dividend of $0.735 per share. The ex-dividend date is Tuesday, September 15th. This represents a $2.94 annualized dividend and a dividend yield of 6.0%. Pembina Pipeline’s payout ratio is presently 104.41%.

Analyst Ratings Changes

A number of research firms recently issued reports on PBA. Royal Bank Of Canada raised their target price on shares of Pembina Pipeline from $64.00 to $68.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. Scotiabank cut shares of Pembina Pipeline from a “sector outperform” rating to a “sector perform” rating in a report on Monday, July 20th. Weiss Ratings cut shares of Pembina Pipeline from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, August 18th. Wall Street Zen raised Pembina Pipeline from a “sell” rating to a “hold” rating in a research report on Saturday, July 25th. Finally, BMO Capital Markets reissued a “market perform” rating on shares of Pembina Pipeline in a research report on Friday, July 31st. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Pembina Pipeline has an average rating of “Moderate Buy” and a consensus target price of $64.00.

Pembina Pipeline Company Profile

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.