Hsbc Holdings PLC Decreases Stock Position in Pembina Pipeline Co. (NYSE:PBA)

Hsbc Holdings PLC reduced its position in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 93.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 106,762 shares of the pipeline company’s stock after selling 1,419,584 shares during the quarter. Hsbc Holdings PLC’s holdings in Pembina Pipeline were worth $3,965,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. ICA Group Wealth Management LLC purchased a new stake in Pembina Pipeline in the fourth quarter worth $25,000. Beacon Capital Management LLC purchased a new stake in Pembina Pipeline in the first quarter worth $37,000. EverSource Wealth Advisors LLC increased its position in Pembina Pipeline by 74.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,081 shares of the pipeline company’s stock worth $37,000 after buying an additional 462 shares during the last quarter. Creekmur Asset Management LLC purchased a new stake in Pembina Pipeline in the fourth quarter worth $62,000. Finally, Massmutual Trust Co. FSB ADV grew its position in shares of Pembina Pipeline by 47.2% in the second quarter. Massmutual Trust Co. FSB ADV now owns 2,511 shares of the pipeline company’s stock valued at $93,000 after purchasing an additional 805 shares in the last quarter. 55.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Pembina Pipeline Price Performance

Shares of NYSE PBA opened at $41.35 on Wednesday. The stock has a market cap of $23.98 billion, a PE ratio of 17.98, a price-to-earnings-growth ratio of 5.70 and a beta of 1.25. Pembina Pipeline Co. has a fifty-two week low of $28.15 and a fifty-two week high of $41.58. The stock has a fifty day moving average of $39.32 and a 200-day moving average of $37.28. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.55 and a current ratio of 0.68.

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

Pembina Pipeline Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Monday, September 16th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.84%. The ex-dividend date is Monday, September 16th. Pembina Pipeline’s dividend payout ratio is 88.70%.

Pembina Pipeline Company 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.