Principal Financial Group Inc. Sells 11,900 Shares of Pembina Pipeline Corp. $PBA

Principal Financial Group Inc. decreased its position in shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 14.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 71,408 shares of the pipeline company’s stock after selling 11,900 shares during the period. Principal Financial Group Inc.’s holdings in Pembina Pipeline were worth $3,186,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Cardinal Capital Management Inc. increased its stake in shares of Pembina Pipeline by 10.0% in the 4th quarter. Cardinal Capital Management Inc. now owns 3,274,336 shares of the pipeline company’s stock valued at $124,621,000 after purchasing an additional 298,412 shares during the last quarter. TD Waterhouse Canada Inc. lifted its position in shares of Pembina Pipeline by 2.5% during the 4th quarter. TD Waterhouse Canada Inc. now owns 1,703,413 shares of the pipeline company’s stock worth $64,798,000 after buying an additional 40,944 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Pembina Pipeline by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 27,233,442 shares of the pipeline company’s stock worth $1,037,512,000 after buying an additional 541,615 shares during the last quarter. K.J. Harrison & Partners Inc boosted its stake in Pembina Pipeline by 27.3% in the fourth quarter. K.J. Harrison & Partners Inc now owns 207,560 shares of the pipeline company’s stock valued at $7,919,000 after buying an additional 44,500 shares in the last quarter. Finally, Nicola Wealth Management LTD. grew its position in Pembina Pipeline by 28.0% in the fourth quarter. Nicola Wealth Management LTD. now owns 987,800 shares of the pipeline company’s stock valued at $37,638,000 after acquiring an additional 216,300 shares during the last quarter. 55.37% of the stock is owned by institutional investors.

Analyst Ratings Changes

PBA has been the subject of a number of research reports. Royal Bank Of Canada increased their target price on shares of Pembina Pipeline from $64.00 to $68.00 and gave the stock an “outperform” rating in a report on Monday, May 11th. Wall Street Zen upgraded shares of Pembina Pipeline from a “sell” rating to a “hold” rating in a research report on Saturday, July 25th. Weiss Ratings raised shares of Pembina Pipeline from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday. Barclays reaffirmed an “overweight” rating on shares of Pembina Pipeline in a research note on Thursday, May 21st. Finally, TD Securities reiterated a “buy” rating on shares of Pembina Pipeline in a report on Thursday, July 16th. Six investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Pembina Pipeline currently has a consensus rating of “Hold” and an average target price of $64.00.

Pembina Pipeline Stock Performance

NYSE:PBA opened at $50.43 on Thursday. The stock has a market cap of $29.33 billion, a P/E ratio of 26.27 and a beta of 0.57. The company has a current ratio of 0.83, a quick ratio of 0.68 and a debt-to-equity ratio of 0.84. The stock’s 50-day moving average is $48.37 and its 200-day moving average is $45.32. Pembina Pipeline Corp. has a 1-year low of $35.45 and a 1-year high of $51.58.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last issued its quarterly earnings data on Thursday, May 7th. The pipeline company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.07. Pembina Pipeline had a net margin of 22.22% and a return on equity of 11.47%. The business had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same quarter last year, the business earned $0.80 EPS. The firm’s quarterly revenue was down 7.7% on a year-over-year basis. Equities research analysts anticipate that Pembina Pipeline Corp. will post 2.2 earnings per share for the current year.

Pembina Pipeline Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were paid a dividend of $0.735 per share. The ex-dividend date of this dividend was Monday, June 15th. This is an increase from Pembina Pipeline’s previous quarterly dividend of $0.71. This represents a $2.94 annualized dividend and a dividend yield of 5.8%. Pembina Pipeline’s payout ratio is 110.94%.

About Pembina Pipeline

Pembina Pipeline Corporation (NYSE: PBA) is a North American energy infrastructure company that develops, owns and operates midstream assets that transport, store and process hydrocarbons. Its core business focuses on the transportation of crude oil, natural gas liquids (NGLs) and condensate, along with gas processing, fractionation, storage and related marketing services. Pembina serves producers, refiners and other energy companies by providing pipeline capacity, terminal services and midstream solutions that link upstream production to downstream markets and export facilities.

The company’s asset base is concentrated in Western Canada, including major operations in Alberta and British Columbia, and it also has operations and commercial activities that extend into the United States.