Pembina Pipeline Co. (NYSE:PBA) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA lowered its holdings in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 0.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 834,405 shares of the pipeline company’s stock after selling 6,593 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.14% of Pembina Pipeline worth $30,940,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Pembina Pipeline by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 22,053,531 shares of the pipeline company’s stock worth $779,372,000 after purchasing an additional 460,761 shares during the period. Bank of Nova Scotia boosted its stake in shares of Pembina Pipeline by 1.2% in the fourth quarter. Bank of Nova Scotia now owns 14,837,544 shares of the pipeline company’s stock worth $510,857,000 after buying an additional 171,960 shares during the last quarter. ClearBridge Investments Ltd grew its holdings in Pembina Pipeline by 12.3% during the first quarter. ClearBridge Investments Ltd now owns 7,173,059 shares of the pipeline company’s stock worth $253,496,000 after acquiring an additional 784,814 shares during the period. CIBC Asset Management Inc raised its position in Pembina Pipeline by 7.7% during the fourth quarter. CIBC Asset Management Inc now owns 6,062,012 shares of the pipeline company’s stock valued at $209,376,000 after acquiring an additional 433,212 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its holdings in Pembina Pipeline by 86.6% in the first quarter. Canada Pension Plan Investment Board now owns 5,344,325 shares of the pipeline company’s stock valued at $188,814,000 after acquiring an additional 2,480,570 shares during the period. Hedge funds and other institutional investors own 55.37% of the company’s stock.

Pembina Pipeline Price Performance

Pembina Pipeline stock opened at $40.59 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.55 and a current ratio of 0.68. The company’s fifty day moving average price is $39.17 and its 200 day moving average price is $37.16. The stock has a market capitalization of $23.55 billion, a P/E ratio of 17.65, a P/E/G ratio of 5.70 and a beta of 1.25. Pembina Pipeline Co. has a 1 year low of $28.15 and a 1 year high of $41.40.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last released its earnings results on Thursday, August 8th. The pipeline company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.21. The business had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.44 billion. Pembina Pipeline had a net margin of 23.50% and a return on equity of 13.68%. The company’s quarterly revenue was up 30.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.45 earnings per share. As a group, equities research analysts anticipate that Pembina Pipeline Co. will post 2.38 earnings per share for the current fiscal year.

Pembina Pipeline Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Monday, September 16th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.93%. Pembina Pipeline’s payout ratio is currently 88.70%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PBA. Citigroup lifted their target price on shares of Pembina Pipeline from $53.00 to $56.00 and gave the company a “neutral” rating in a report on Wednesday, August 28th. UBS Group initiated coverage on shares of Pembina Pipeline in a research report on Wednesday, September 11th. They issued a “neutral” rating for the company. Four analysts have rated the stock with a hold rating, According to MarketBeat, Pembina Pipeline has a consensus rating of “Hold” and a consensus price target of $56.50.

Pembina Pipeline Profile

Pembina Pipeline Corporation provides energy transportation and midstream services. It operates through three segments: Pipelines, Facilities, and Marketing & New Ventures. The Pipelines segment operates conventional, oil sands and heavy oil, and transmission assets with a transportation capacity of 2.9 millions of barrels of oil equivalent per day, the ground storage capacity of 10 millions of barrels, and rail terminalling capacity of approximately 105 thousands of barrels of oil equivalent per day serving markets and basins across North America.