Point72 Europe London LLP Sells 85,710 Shares of Pembina Pipeline Co. (NYSE:PBA)

Point72 Europe London LLP trimmed its holdings in shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 18.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 388,863 shares of the pipeline company’s stock after selling 85,710 shares during the quarter. Point72 Europe London LLP owned 0.07% of Pembina Pipeline worth $14,359,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PBA. Sound Income Strategies LLC bought a new position in Pembina Pipeline in the fourth quarter worth approximately $27,000. Eastern Bank acquired a new stake in Pembina Pipeline during the 4th quarter worth about $29,000. Principal Securities Inc. raised its holdings in shares of Pembina Pipeline by 2,597.1% during the fourth quarter. Principal Securities Inc. now owns 917 shares of the pipeline company’s stock worth $34,000 after purchasing an additional 883 shares during the last quarter. Venturi Wealth Management LLC grew its holdings in Pembina Pipeline by 880.0% during the fourth quarter. Venturi Wealth Management LLC now owns 980 shares of the pipeline company’s stock worth $36,000 after acquiring an additional 880 shares during the period. Finally, VSM Wealth Advisory LLC acquired a new position in shares of Pembina Pipeline in the 4th quarter valued at $37,000. 55.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on PBA shares. TD Securities started coverage on shares of Pembina Pipeline in a research note on Wednesday, January 15th. They set a “buy” rating on the stock. Citigroup upgraded Pembina Pipeline from a “neutral” rating to a “buy” rating in a research note on Monday, March 10th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Pembina Pipeline has an average rating of “Moderate Buy” and an average target price of $56.00.

Pembina Pipeline Stock Up 0.3%

PBA stock opened at $37.31 on Thursday. Pembina Pipeline Co. has a 1-year low of $34.13 and a 1-year high of $43.44. The firm has a market cap of $21.67 billion, a price-to-earnings ratio of 15.42 and a beta of 0.81. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.65 and a quick ratio of 0.51. The firm has a fifty day moving average price of $38.34 and a two-hundred day moving average price of $38.37.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last released its earnings results on Thursday, May 8th. The pipeline company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.23. Pembina Pipeline had a return on equity of 13.62% and a net margin of 25.39%. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.47 billion. During the same period in the previous year, the company earned $0.73 earnings per share. Pembina Pipeline’s revenue was up 48.2% compared to the same quarter last year. Research analysts predict that Pembina Pipeline Co. will post 2.15 EPS for the current year.

Pembina Pipeline Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be issued a $0.5109 dividend. This is a positive change from Pembina Pipeline’s previous quarterly dividend of $0.48. This represents a $2.04 annualized dividend and a yield of 5.48%. The ex-dividend date of this dividend is Monday, June 16th. Pembina Pipeline’s payout ratio is 89.14%.

About Pembina Pipeline

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.