Mackenzie Financial Corp Decreases Stock Position in Pembina Pipeline Corp. $PBA

Mackenzie Financial Corp lessened its holdings in Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 7.7% in the 3rd quarter, Holdings Channel.com reports. The fund owned 11,799,323 shares of the pipeline company’s stock after selling 987,986 shares during the period. Mackenzie Financial Corp’s holdings in Pembina Pipeline were worth $476,974,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of PBA. Westside Investment Management Inc. increased its holdings in shares of Pembina Pipeline by 100.0% during the third quarter. Westside Investment Management Inc. now owns 808 shares of the pipeline company’s stock valued at $32,000 after acquiring an additional 404 shares in the last quarter. Physician Wealth Advisors Inc. raised its position in shares of Pembina Pipeline by 441.2% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 920 shares of the pipeline company’s stock valued at $37,000 after purchasing an additional 750 shares during the last quarter. Golden State Wealth Management LLC acquired a new stake in Pembina Pipeline in the 3rd quarter worth approximately $40,000. Mather Group LLC. acquired a new stake in Pembina Pipeline in the 3rd quarter worth approximately $45,000. Finally, State of Wyoming purchased a new stake in Pembina Pipeline during the 2nd quarter worth approximately $58,000. Hedge funds and other institutional investors own 55.37% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on PBA. Zacks Research upgraded shares of Pembina Pipeline from a “strong sell” rating to a “hold” rating in a research note on Friday, January 23rd. BMO Capital Markets reiterated a “market perform” rating on shares of Pembina Pipeline in a research note on Friday, February 27th. Weiss Ratings raised shares of Pembina Pipeline from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 2nd. Finally, TD Securities downgraded Pembina Pipeline from a “buy” rating to a “hold” rating in a research report on Tuesday, February 17th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Pembina Pipeline has an average rating of “Hold” and an average target price of $60.00.

Pembina Pipeline Price Performance

Shares of NYSE PBA opened at $44.67 on Wednesday. The business’s 50 day moving average price is $41.46 and its 200 day moving average price is $39.59. The firm has a market cap of $25.95 billion, a P/E ratio of 23.51 and a beta of 0.68. Pembina Pipeline Corp. has a 52 week low of $34.13 and a 52 week high of $45.09. The company has a quick ratio of 0.47, a current ratio of 0.61 and a debt-to-equity ratio of 0.80.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last issued its quarterly earnings results on Thursday, February 26th. The pipeline company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.06. Pembina Pipeline had a net margin of 21.76% and a return on equity of 11.17%. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter in the prior year, the company earned $0.92 EPS. Pembina Pipeline’s quarterly revenue was down 10.8% on a year-over-year basis. On average, sell-side analysts expect that Pembina Pipeline Corp. will post 2.15 earnings per share for the current year.

Pembina Pipeline Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th will be paid a $0.71 dividend. The ex-dividend date is Monday, March 16th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 6.4%. Pembina Pipeline’s dividend payout ratio is presently 109.47%.

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.