Lincluden Management Ltd. Trims Position in Pembina Pipeline Co. (NYSE:PBA)

Lincluden Management Ltd. lowered its holdings in shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 2.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 793,546 shares of the pipeline company’s stock after selling 23,515 shares during the period. Pembina Pipeline comprises 3.6% of Lincluden Management Ltd.’s holdings, making the stock its 10th largest holding. Lincluden Management Ltd. owned about 0.14% of Pembina Pipeline worth $32,732,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of PBA. Vanguard Group Inc. increased its position in Pembina Pipeline by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 22,053,531 shares of the pipeline company’s stock valued at $779,372,000 after purchasing an additional 460,761 shares during the period. Toronto Dominion Bank increased its position in shares of Pembina Pipeline by 97.2% during the second quarter. Toronto Dominion Bank now owns 8,938,488 shares of the pipeline company’s stock worth $331,439,000 after buying an additional 4,405,792 shares during the period. Canada Pension Plan Investment Board lifted its holdings in Pembina Pipeline by 56.9% in the second quarter. Canada Pension Plan Investment Board now owns 8,387,525 shares of the pipeline company’s stock valued at $311,142,000 after buying an additional 3,043,200 shares during the period. ClearBridge Investments Ltd boosted its position in Pembina Pipeline by 12.3% during the first quarter. ClearBridge Investments Ltd now owns 7,173,059 shares of the pipeline company’s stock valued at $253,496,000 after acquiring an additional 784,814 shares during the last quarter. Finally, CIBC Asset Management Inc raised its position in shares of Pembina Pipeline by 7.5% in the 2nd quarter. CIBC Asset Management Inc now owns 5,924,706 shares of the pipeline company’s stock worth $219,689,000 after acquiring an additional 414,419 shares in the last quarter. Institutional investors and hedge funds own 55.37% of the company’s stock.

Pembina Pipeline Stock Down 0.2 %

Pembina Pipeline stock opened at $41.82 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.55 and a current ratio of 0.68. The stock has a market cap of $24.27 billion, a PE ratio of 17.43, a price-to-earnings-growth ratio of 5.86 and a beta of 1.25. Pembina Pipeline Co. has a fifty-two week low of $30.52 and a fifty-two week high of $43.44. The firm’s 50-day simple moving average is $41.47 and its 200 day simple moving average is $38.56.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last announced its earnings results on Thursday, August 8th. The pipeline company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.21. Pembina Pipeline had a return on equity of 13.68% and a net margin of 23.50%. The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter in the previous year, the business earned $0.45 EPS. The company’s revenue was up 30.5% compared to the same quarter last year. Research analysts predict that Pembina Pipeline Co. will post 2.38 EPS for the current fiscal year.

Pembina Pipeline Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Monday, September 16th were paid a $0.50 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 4.78%. Pembina Pipeline’s payout ratio is presently 85.00%.

Wall Street Analysts Forecast Growth

PBA has been the subject of a number of research analyst reports. Raymond James began coverage on Pembina Pipeline in a report on Friday, October 11th. They issued an “outperform” rating for the company. UBS Group assumed coverage on shares of Pembina Pipeline in a research report on Wednesday, September 11th. They set a “neutral” rating on the stock. Finally, Citigroup increased their price objective on shares of Pembina Pipeline from $53.00 to $56.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 28th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $56.50.

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.