Montrusco Bolton Investments Inc. Lowers Stake in Pembina Pipeline Corp. $PBA

Montrusco Bolton Investments Inc. reduced its position in shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 20.3% during the 2nd quarter, HoldingsChannel reports. The fund owned 323,405 shares of the pipeline company’s stock after selling 82,187 shares during the period. Montrusco Bolton Investments Inc.’s holdings in Pembina Pipeline were worth $12,119,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PBA. Goldman Sachs Group Inc. lifted its stake in Pembina Pipeline by 78.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 7,088,945 shares of the pipeline company’s stock valued at $283,770,000 after buying an additional 3,108,920 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Pembina Pipeline by 136.7% in the 1st quarter. The Manufacturers Life Insurance Company now owns 3,995,460 shares of the pipeline company’s stock valued at $160,681,000 after buying an additional 2,307,634 shares in the last quarter. Nuveen LLC acquired a new stake in Pembina Pipeline in the 1st quarter valued at about $83,743,000. Invesco Ltd. raised its holdings in Pembina Pipeline by 55.2% in the 1st quarter. Invesco Ltd. now owns 2,522,129 shares of the pipeline company’s stock valued at $100,961,000 after acquiring an additional 897,386 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Pembina Pipeline by 27.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,329,122 shares of the pipeline company’s stock valued at $133,265,000 after acquiring an additional 713,017 shares during the last quarter. 55.37% of the stock is owned by hedge funds and other institutional investors.

Pembina Pipeline Stock Down 1.6%

Shares of NYSE PBA opened at $39.00 on Monday. The company has a 50 day simple moving average of $38.49 and a 200-day simple moving average of $37.88. The company has a market capitalization of $22.66 billion, a P/E ratio of 18.31 and a beta of 0.76. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.77 and a quick ratio of 0.62. Pembina Pipeline Corp. has a 1 year low of $34.13 and a 1 year high of $43.44.

Pembina Pipeline Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 15th were issued a dividend of $0.71 per share. The ex-dividend date was Monday, September 15th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 7.3%. This is an increase from Pembina Pipeline’s previous quarterly dividend of $0.51. Pembina Pipeline’s payout ratio is 97.18%.

Analyst Ratings Changes

A number of analysts have commented on PBA shares. National Bankshares upgraded shares of Pembina Pipeline from a “sector perform” rating to an “outperform” rating in a report on Thursday, June 26th. Jefferies Financial Group downgraded shares of Pembina Pipeline from a “buy” rating to a “hold” rating in a report on Wednesday, July 23rd. Raymond James Financial reiterated an “outperform” rating on shares of Pembina Pipeline in a report on Monday, August 11th. Wall Street Zen downgraded shares of Pembina Pipeline from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Pembina Pipeline in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

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.