Point72 Asset Management L.P. Sells 651,422 Shares of Pembina Pipeline Co. (NYSE:PBA)

Point72 Asset Management L.P. lessened its stake in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 72.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 250,278 shares of the pipeline company’s stock after selling 651,422 shares during the quarter. Point72 Asset Management L.P.’s holdings in Pembina Pipeline were worth $9,283,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Corient Private Wealth LLC increased its holdings in Pembina Pipeline by 2.6% in the 4th quarter. Corient Private Wealth LLC now owns 36,514 shares of the pipeline company’s stock worth $1,263,000 after acquiring an additional 931 shares during the last quarter. Campbell & CO Investment Adviser LLC lifted its stake in shares of Pembina Pipeline by 45.8% during the 4th quarter. Campbell & CO Investment Adviser LLC now owns 27,969 shares of the pipeline company’s stock valued at $963,000 after buying an additional 8,784 shares in the last quarter. Capital World Investors bought a new position in Pembina Pipeline in the 4th quarter worth approximately $32,541,000. 1832 Asset Management L.P. grew its stake in Pembina Pipeline by 39.7% in the 4th quarter. 1832 Asset Management L.P. now owns 709,516 shares of the pipeline company’s stock valued at $24,422,000 after buying an additional 201,669 shares in the last quarter. Finally, Broderick Brian C raised its holdings in Pembina Pipeline by 17.0% during the 4th quarter. Broderick Brian C now owns 26,124 shares of the pipeline company’s stock valued at $899,000 after acquiring an additional 3,800 shares during the period. Hedge funds and other institutional investors own 55.37% of the company’s stock.

Pembina Pipeline Trading Up 0.2 %

Pembina Pipeline stock opened at $41.23 on Tuesday. The stock has a market cap of $23.91 billion, a P/E ratio of 17.92, a PEG 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 firm’s fifty day moving average price is $39.58 and its 200-day moving average price is $37.43. 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 released its quarterly earnings results on Thursday, August 8th. The pipeline company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.21. Pembina Pipeline had a return on equity of 13.68% and a net margin of 23.50%. The firm had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.44 billion. During the same quarter last year, the firm posted $0.45 EPS. The company’s revenue was up 30.5% compared to the same quarter last year. Equities research analysts forecast that Pembina Pipeline Co. will post 2.42 earnings per share for the current fiscal year.

Pembina Pipeline Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Monday, September 16th were paid a $0.50 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 4.85%. Pembina Pipeline’s dividend payout ratio is presently 88.70%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Citigroup raised their price target on Pembina Pipeline from $53.00 to $56.00 and gave the stock a “neutral” rating in a report on Wednesday, August 28th. UBS Group began coverage on Pembina Pipeline in a research note on Wednesday, September 11th. They issued a “neutral” rating for the company. Four investment analysts have rated the stock with a hold rating, According to MarketBeat, the stock has an average rating of “Hold” and an average 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.