CLARET ASSET MANAGEMENT Corp cut its position in shares of Pembina Pipeline Corp (NYSE:PBA) (TSE:PPL) by 3.7% in the third quarter, Holdings Channel.com reports. The institutional investor owned 31,525 shares of the pipeline company’s stock after selling 1,210 shares during the period. CLARET ASSET MANAGEMENT Corp’s holdings in Pembina Pipeline were worth $1,169,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Cornerstone Advisors Inc. lifted its stake in shares of Pembina Pipeline by 51.7% in the 2nd quarter. Cornerstone Advisors Inc. now owns 804 shares of the pipeline company’s stock valued at $30,000 after purchasing an additional 274 shares during the last quarter. Phocas Financial Corp. bought a new stake in shares of Pembina Pipeline in the 2nd quarter valued at approximately $3,542,000. Aperio Group LLC bought a new stake in shares of Pembina Pipeline in the 2nd quarter valued at approximately $41,000. HM Payson & Co. bought a new stake in shares of Pembina Pipeline in the 2nd quarter valued at approximately $42,000. Finally, Pinebridge Investments L.P. bought a new stake in shares of Pembina Pipeline in the 2nd quarter valued at approximately $44,000. 52.21% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE PBA traded up $0.36 during midday trading on Friday, hitting $35.87. The company’s stock had a trading volume of 380,968 shares, compared to its average volume of 821,074. The company has a current ratio of 0.68, a quick ratio of 0.62 and a debt-to-equity ratio of 0.64. The business’s 50 day moving average is $36.64 and its two-hundred day moving average is $36.72. Pembina Pipeline Corp has a 12-month low of $28.30 and a 12-month high of $38.56. The firm has a market cap of $18.33 billion, a P/E ratio of 20.27, a price-to-earnings-growth ratio of 3.29 and a beta of 0.73.
Pembina Pipeline (NYSE:PBA) (TSE:PPL) last issued its quarterly earnings results on Thursday, August 1st. The pipeline company reported $1.23 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.81. Pembina Pipeline had a return on equity of 13.92% and a net margin of 22.20%. The firm had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same period in the prior year, the business posted $0.43 earnings per share. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, analysts predict that Pembina Pipeline Corp will post 2.15 earnings per share for the current fiscal year.
The firm also recently declared a monthly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 25th will be issued a $0.151 dividend. The ex-dividend date of this dividend is Thursday, October 24th. This represents a $1.81 annualized dividend and a dividend yield of 5.05%. Pembina Pipeline’s payout ratio is 101.69%.
Several research firms have recently issued reports on PBA. ValuEngine raised Pembina Pipeline from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Zacks Investment Research raised Pembina Pipeline from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a research note on Wednesday. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $40.00.
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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