Pembina Pipeline Corp. $PBA Shares Sold by Hillsdale Investment Management Inc.

Hillsdale Investment Management Inc. lowered its position in shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 63.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 335,664 shares of the pipeline company’s stock after selling 581,461 shares during the period. Hillsdale Investment Management Inc.’s holdings in Pembina Pipeline were worth $15,022,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Tobam acquired a new position in shares of Pembina Pipeline during the fourth quarter worth $28,000. Caitong International Asset Management Co. Ltd acquired a new stake in Pembina Pipeline during the 3rd quarter valued at $31,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Pembina Pipeline during the 4th quarter worth $36,000. Larson Financial Group LLC increased its stake in Pembina Pipeline by 32.4% during the 3rd quarter. Larson Financial Group LLC now owns 1,059 shares of the pipeline company’s stock worth $43,000 after buying an additional 259 shares during the period. Finally, Fulcrum Asset Management LLP purchased a new stake in Pembina Pipeline during the 3rd quarter worth $46,000. 55.37% of the stock is owned by institutional investors and hedge funds.

Pembina Pipeline Stock Up 4.4%

PBA stock opened at $49.66 on Tuesday. The company has a current ratio of 0.83, a quick ratio of 0.68 and a debt-to-equity ratio of 0.84. The firm has a 50 day simple moving average of $47.58 and a 200-day simple moving average of $44.23. The company has a market capitalization of $28.87 billion, a P/E ratio of 25.86 and a beta of 0.57. Pembina Pipeline Corp. has a twelve month low of $35.45 and a twelve month high of $50.10.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last posted its quarterly earnings results on Thursday, May 7th. The pipeline company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.07. The firm had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.06 billion. Pembina Pipeline had a net margin of 22.22% and a return on equity of 11.47%. The firm’s quarterly revenue was down 7.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.80 earnings per share. On average, equities research analysts predict that Pembina Pipeline Corp. will post 2.23 earnings per share for the current fiscal year.

Pembina Pipeline Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were paid a dividend of $0.735 per share. The ex-dividend date was Monday, June 15th. This is an increase from Pembina Pipeline’s previous quarterly dividend of $0.71. This represents a $2.94 annualized dividend and a yield of 5.9%. Pembina Pipeline’s payout ratio is currently 110.94%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on PBA shares. TD Securities raised shares of Pembina Pipeline from a “hold” rating to a “buy” rating in a research report on Tuesday, May 26th. Wall Street Zen downgraded Pembina Pipeline from a “hold” rating to a “sell” rating in a research note on Saturday, June 27th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Pembina Pipeline in a research report on Friday, July 3rd. Weiss Ratings reiterated a “buy (b)” rating on shares of Pembina Pipeline in a research note on Tuesday, June 16th. Finally, BMO Capital Markets reissued a “market perform” rating and issued a $68.00 price target on shares of Pembina Pipeline in a report on Friday, July 3rd. Six equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” 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.