Pembina Pipeline Co. (NYSE:PBA) Stock Position Decreased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lowered its holdings in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 2.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 400,285 shares of the pipeline company’s stock after selling 8,837 shares during the period. Envestnet Asset Management Inc. owned approximately 0.07% of Pembina Pipeline worth $14,843,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Oppenheimer Asset Management Inc. lifted its holdings in shares of Pembina Pipeline by 2.7% in the second quarter. Oppenheimer Asset Management Inc. now owns 18,341 shares of the pipeline company’s stock valued at $680,000 after purchasing an additional 478 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in shares of Pembina Pipeline by 0.3% in the second quarter. DekaBank Deutsche Girozentrale now owns 2,188,994 shares of the pipeline company’s stock valued at $81,365,000 after purchasing an additional 6,105 shares in the last quarter. Beverly Hills Private Wealth LLC lifted its holdings in shares of Pembina Pipeline by 9.9% in the second quarter. Beverly Hills Private Wealth LLC now owns 7,039 shares of the pipeline company’s stock valued at $261,000 after purchasing an additional 635 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Pembina Pipeline by 9.2% in the second quarter. American Century Companies Inc. now owns 116,037 shares of the pipeline company’s stock valued at $4,305,000 after purchasing an additional 9,782 shares in the last quarter. Finally, Marco Investment Management LLC purchased a new stake in shares of Pembina Pipeline in the second quarter valued at $207,000. Hedge funds and other institutional investors own 55.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PBA. UBS Group began coverage on Pembina Pipeline in a report on Wednesday, September 11th. They set a “neutral” rating for the company. Citigroup increased their price objective on Pembina Pipeline from $53.00 to $56.00 and gave the stock a “neutral” rating in a report on Wednesday, August 28th. Four analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $56.50.

Pembina Pipeline Trading Up 0.6 %

Pembina Pipeline stock opened at $41.35 on Wednesday. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.68 and a quick ratio of 0.55. The company has a market capitalization of $23.98 billion, a price-to-earnings ratio of 17.98, a PEG ratio of 5.70 and a beta of 1.25. Pembina Pipeline Co. has a one year low of $28.15 and a one year high of $41.58. The company’s fifty day moving average price is $39.32 and its two-hundred day moving average price is $37.28.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last issued its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $1.44 billion. Pembina Pipeline had a return on equity of 13.68% and a net margin of 23.50%. The firm’s revenue was up 30.5% compared to the same quarter last year. During the same period last year, the business posted $0.45 earnings per share. On average, analysts forecast that Pembina Pipeline Co. will post 2.38 earnings per share for the current fiscal year.

Pembina Pipeline Cuts Dividend

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