Sumitomo Mitsui Trust Holdings Inc. Has $51.05 Million Position in Pembina Pipeline Corp (NYSE:PBA)

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Sumitomo Mitsui Trust Holdings Inc. reduced its stake in shares of Pembina Pipeline Corp (NYSE:PBA) (TSE:PPL) by 2.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,048,082 shares of the pipeline company’s stock after selling 58,321 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 0.37% of Pembina Pipeline worth $51,052,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. QV Investors Inc. acquired a new position in shares of Pembina Pipeline during the 2nd quarter worth about $37,000. Ameritas Investment Company LLC acquired a new position in shares of Pembina Pipeline during the 1st quarter worth about $31,000. Trust Co. of Vermont grew its position in shares of Pembina Pipeline by 57.3% during the 2nd quarter. Trust Co. of Vermont now owns 2,060 shares of the pipeline company’s stock worth $52,000 after buying an additional 750 shares during the period. Campbell Wealth Management bought a new position in shares of Pembina Pipeline during the 2nd quarter valued at about $77,000. Finally, Banque Cantonale Vaudoise bought a new position in shares of Pembina Pipeline during the 2nd quarter valued at about $100,000. Institutional investors own 56.41% of the company’s stock.

NYSE PBA opened at $24.34 on Friday. The stock has a market capitalization of $13.38 billion, a price-to-earnings ratio of 12.48, a PEG ratio of 3.21 and a beta of 1.37. The stock’s 50 day moving average price is $24.69 and its two-hundred day moving average price is $27.23. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.51 and a current ratio of 0.61. Pembina Pipeline Corp has a 52 week low of $10.58 and a 52 week high of $40.65.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last announced its quarterly earnings data on Thursday, May 7th. The pipeline company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.04). Pembina Pipeline had a return on equity of 11.30% and a net margin of 21.49%. The company had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.98 billion. During the same quarter in the prior year, the company earned $0.55 EPS. The company’s revenue for the quarter was down 15.1% on a year-over-year basis. On average, equities research analysts forecast that Pembina Pipeline Corp will post 1.53 EPS for the current year.

The firm also recently announced a monthly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 24th will be issued a dividend of $0.155 per share. The ex-dividend date of this dividend is Thursday, July 23rd. This is a positive change from Pembina Pipeline’s previous monthly dividend of $0.15. This represents a $1.86 dividend on an annualized basis and a dividend yield of 7.64%. Pembina Pipeline’s payout ratio is presently 93.00%.

Several research firms have recently weighed in on PBA. ValuEngine upgraded Pembina Pipeline from a “sell” rating to a “hold” rating in a report on Friday, May 1st. Zacks Investment Research upgraded Pembina Pipeline from a “hold” rating to a “buy” rating and set a $28.00 price objective on the stock in a report on Wednesday. CIBC lifted their price objective on Pembina Pipeline from $37.00 to $40.00 and gave the company an “outperform” rating in a report on Thursday, June 18th. Royal Bank of Canada lifted their price objective on Pembina Pipeline from $26.00 to $40.00 and gave the company an “outperform” rating in a report on Monday, May 11th. Finally, Canaccord Genuity reiterated a “buy” rating on shares of Pembina Pipeline in a report on Tuesday, June 2nd. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $46.89.

About Pembina Pipeline

Pembina Pipeline Corporation provides transportation and midstream services for the energy industry in North America. It operates through three divisions: Pipelines, Facilities, and Marketing & New Ventures. The Pipelines division operates conventional, transmission, and oil sands and heavy oil pipeline assets with a total capacity of 3 million barrels of oil serving markets and basins across North America through conventional, transmission, and oil sand pipelines assets.

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Institutional Ownership by Quarter for Pembina Pipeline (NYSE:PBA)

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