Pembina Pipeline Co. (NYSE:PBA) Shares Sold by Shell Asset Management Co.

Shell Asset Management Co. cut its holdings in shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 43.5% during the first quarter, HoldingsChannel.com reports. The fund owned 16,888 shares of the pipeline company’s stock after selling 13,000 shares during the quarter. Shell Asset Management Co.’s holdings in Pembina Pipeline were worth $597,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of PBA. Raymond James Financial Services Advisors Inc. increased its stake in Pembina Pipeline by 4.0% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 32,080 shares of the pipeline company’s stock valued at $1,104,000 after purchasing an additional 1,231 shares during the period. Assenagon Asset Management S.A. lifted its position in Pembina Pipeline by 3.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 15,872 shares of the pipeline company’s stock worth $549,000 after acquiring an additional 547 shares during the period. True North Advisors LLC grew its stake in shares of Pembina Pipeline by 18.6% in the 4th quarter. True North Advisors LLC now owns 28,100 shares of the pipeline company’s stock valued at $967,000 after purchasing an additional 4,400 shares during the last quarter. Baskin Financial Services Inc. raised its stake in shares of Pembina Pipeline by 5.0% during the fourth quarter. Baskin Financial Services Inc. now owns 196,108 shares of the pipeline company’s stock worth $6,749,000 after purchasing an additional 9,306 shares during the last quarter. Finally, DAVENPORT & Co LLC acquired a new stake in shares of Pembina Pipeline during the fourth quarter worth $212,000. 55.37% of the stock is owned by institutional investors and hedge funds.

Pembina Pipeline Price Performance

Pembina Pipeline stock traded up $0.08 during midday trading on Friday, reaching $38.19. 95,465 shares of the company were exchanged, compared to its average volume of 1,092,004. The firm’s 50-day simple moving average is $37.10 and its 200-day simple moving average is $35.66. Pembina Pipeline Co. has a 1 year low of $28.15 and a 1 year high of $38.53. The company has a market capitalization of $22.15 billion, a price-to-earnings ratio of 16.57, a P/E/G ratio of 5.40 and a beta of 1.25. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.93 and a current ratio of 1.03.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last issued its quarterly earnings results on Thursday, May 9th. The pipeline company reported $0.54 EPS for the quarter, hitting analysts’ consensus estimates of $0.54. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.83 billion. Pembina Pipeline had a net margin of 21.61% and a return on equity of 13.33%. On average, analysts anticipate that Pembina Pipeline Co. will post 2.36 EPS for the current year.

Pembina Pipeline Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 17th were issued a $0.501 dividend. The ex-dividend date was Monday, June 17th. This is an increase from Pembina Pipeline’s previous quarterly dividend of $0.49. This represents a $2.00 annualized dividend and a yield of 5.25%. Pembina Pipeline’s payout ratio is 87.83%.

Analyst Ratings Changes

PBA has been the subject of several recent analyst reports. Scotiabank cut shares of Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a research note on Sunday, May 19th. StockNews.com downgraded shares of Pembina Pipeline from a “buy” rating to a “hold” rating in a report on Monday, May 13th. Finally, CIBC raised their price objective on Pembina Pipeline from $56.00 to $57.00 and gave the company an “outperformer” rating in a research note on Friday, April 19th. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $52.00.

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.