Thrive Wealth Management LLC Reduces Stock Holdings in Pembina Pipeline Co. (NYSE:PBA)

Thrive Wealth Management LLC lowered its stake in shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 1.6% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 27,014 shares of the pipeline company’s stock after selling 446 shares during the period. Thrive Wealth Management LLC’s holdings in Pembina Pipeline were worth $1,081,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in shares of Pembina Pipeline by 3.2% during the 4th quarter. Vanguard Group Inc. now owns 24,887,077 shares of the pipeline company’s stock valued at $919,503,000 after purchasing an additional 770,729 shares in the last quarter. Deutsche Bank AG boosted its stake in shares of Pembina Pipeline by 3.0% during the 4th quarter. Deutsche Bank AG now owns 14,247,662 shares of the pipeline company’s stock worth $526,451,000 after acquiring an additional 413,373 shares in the last quarter. Mackenzie Financial Corp grew its position in shares of Pembina Pipeline by 10.6% during the 4th quarter. Mackenzie Financial Corp now owns 13,930,847 shares of the pipeline company’s stock valued at $514,154,000 after acquiring an additional 1,331,294 shares during the period. TD Asset Management Inc. increased its stake in shares of Pembina Pipeline by 5.4% in the 4th quarter. TD Asset Management Inc. now owns 6,789,722 shares of the pipeline company’s stock valued at $250,732,000 after purchasing an additional 347,872 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in Pembina Pipeline by 0.5% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,249,624 shares of the pipeline company’s stock worth $230,610,000 after purchasing an additional 32,519 shares during the period. Hedge funds and other institutional investors own 55.37% of the company’s stock.

Pembina Pipeline Trading Down 0.4%

PBA stock opened at $37.81 on Thursday. Pembina Pipeline Co. has a 12-month low of $34.13 and a 12-month high of $43.44. The business’s 50-day moving average is $37.80 and its 200 day moving average is $37.95. The company has a current ratio of 0.65, a quick ratio of 0.51 and a debt-to-equity ratio of 0.79. The stock has a market cap of $21.96 billion, a price-to-earnings ratio of 15.62 and a beta of 0.81.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last issued its quarterly 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. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.47 billion. Pembina Pipeline had a return on equity of 13.62% and a net margin of 25.39%. The business’s revenue was up 48.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.73 earnings per share. On average, sell-side analysts anticipate that Pembina Pipeline Co. will post 2.15 EPS for the current fiscal year.

Pembina Pipeline Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be paid a dividend of $0.5109 per share. The ex-dividend date of this dividend is Monday, June 16th. This is an increase from Pembina Pipeline’s previous quarterly dividend of $0.48. This represents a $2.04 dividend on an annualized basis and a yield of 5.40%. Pembina Pipeline’s payout ratio is 89.14%.

Wall Street Analysts Forecast Growth

Separately, Citigroup upgraded Pembina Pipeline from a “neutral” rating to a “buy” rating in a research report on Monday, March 10th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $56.00.

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.