Mufg Securities Canada LTD. Sells 39,593 Shares of Pembina Pipeline Corp. $PBA

Mufg Securities Canada LTD. reduced its stake in shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 4.6% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 822,347 shares of the pipeline company’s stock after selling 39,593 shares during the period. Pembina Pipeline comprises approximately 1.0% of Mufg Securities Canada LTD.’s portfolio, making the stock its 27th biggest position. Mufg Securities Canada LTD. owned about 0.14% of Pembina Pipeline worth $37,988,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Wellington Management Group LLP purchased a new stake in Pembina Pipeline in the 2nd quarter valued at $3,735,000. Kingsview Wealth Management LLC purchased a new stake in shares of Pembina Pipeline in the second quarter valued at about $257,000. Beacon Pointe Advisors LLC bought a new position in shares of Pembina Pipeline during the second quarter valued at about $339,000. Glenview Trust Co bought a new stake in Pembina Pipeline in the 2nd quarter worth about $1,283,000. Finally, Empowered Funds LLC purchased a new stake in Pembina Pipeline in the 2nd quarter valued at about $1,249,000. Hedge funds and other institutional investors own 55.37% of the company’s stock.

Pembina Pipeline Stock Performance

NYSE:PBA opened at $48.72 on Tuesday. The company has a market capitalization of $28.33 billion, a P/E ratio of 23.88 and a beta of 0.57. The business has a fifty day simple moving average of $48.64 and a two-hundred day simple moving average of $46.65. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.62 and a quick ratio of 0.50. Pembina Pipeline Corp. has a 1 year low of $36.20 and a 1 year high of $51.58.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last issued its quarterly earnings results on Thursday, July 30th. The pipeline company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.46 billion. Pembina Pipeline had a net margin of 22.41% and a return on equity of 11.41%. The firm’s quarterly revenue was up 20.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.65 EPS. On average, analysts expect that Pembina Pipeline Corp. will post 2.23 earnings per share for the current year.

Pembina Pipeline Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be paid a $0.735 dividend. This represents a $2.94 dividend on an annualized basis and a yield of 6.0%. The ex-dividend date is Tuesday, September 15th. Pembina Pipeline’s payout ratio is currently 104.41%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PBA. Scotiabank lowered Pembina Pipeline from a “sector outperform” rating to a “sector perform” rating in a report on Monday, July 20th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Pembina Pipeline in a research note on Friday, July 3rd. Weiss Ratings lowered shares of Pembina Pipeline from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, August 18th. Wall Street Zen upgraded shares of Pembina Pipeline from a “sell” rating to a “hold” rating in a report on Saturday, July 25th. Finally, Royal Bank Of Canada lifted their price objective on shares of Pembina Pipeline from $64.00 to $68.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Five equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $64.00.

Pembina Pipeline Profile

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.