Morgan Dempsey Capital Management LLC Sells 15,737 Shares of Pembina Pipeline Corp. $PBA

Morgan Dempsey Capital Management LLC lessened its position in shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 9.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 148,446 shares of the pipeline company’s stock after selling 15,737 shares during the period. Pembina Pipeline makes up about 2.7% of Morgan Dempsey Capital Management LLC’s portfolio, making the stock its 17th largest holding. Morgan Dempsey Capital Management LLC’s holdings in Pembina Pipeline were worth $5,650,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of Pembina Pipeline during the 4th quarter worth approximately $147,000. Barclays PLC lifted its holdings in shares of Pembina Pipeline by 7.2% during the 4th quarter. Barclays PLC now owns 102,197 shares of the pipeline company’s stock worth $3,890,000 after acquiring an additional 6,851 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of Pembina Pipeline by 1.0% during the 4th quarter. The Manufacturers Life Insurance Company now owns 9,828,960 shares of the pipeline company’s stock worth $375,236,000 after acquiring an additional 94,655 shares during the period. Stifel Financial Corp lifted its holdings in shares of Pembina Pipeline by 8.2% during the 4th quarter. Stifel Financial Corp now owns 30,600 shares of the pipeline company’s stock worth $1,165,000 after acquiring an additional 2,328 shares during the period. Finally, Bank of Nova Scotia lifted its holdings in shares of Pembina Pipeline by 17.4% during the 4th quarter. Bank of Nova Scotia now owns 4,064,371 shares of the pipeline company’s stock worth $154,835,000 after acquiring an additional 603,350 shares during the period. Institutional investors own 55.37% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on PBA shares. Barclays reaffirmed an “overweight” rating on shares of Pembina Pipeline in a research note on Thursday, May 21st. JPMorgan Chase & Co. raised their price objective on Pembina Pipeline from $55.00 to $60.00 and gave the company a “neutral” rating in a research note on Thursday, March 19th. Wall Street Zen raised Pembina Pipeline from a “sell” rating to a “hold” rating in a research note on Sunday, May 10th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Pembina Pipeline in a research note on Tuesday, May 26th. Finally, Royal Bank Of Canada raised their price objective on Pembina Pipeline from $64.00 to $68.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Pembina Pipeline currently has a consensus rating of “Moderate Buy” and an average price target of $62.67.

Pembina Pipeline Price Performance

Pembina Pipeline stock opened at $48.33 on Monday. 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 company has a market capitalization of $28.10 billion, a PE ratio of 25.17 and a beta of 0.57. Pembina Pipeline Corp. has a 12 month low of $35.45 and a 12 month high of $50.10. The stock has a 50-day moving average price of $46.27 and a two-hundred day moving average price of $42.95.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last posted its earnings results on Thursday, May 7th. The pipeline company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.52 by $0.07. Pembina Pipeline had a return on equity of 11.47% and a net margin of 22.22%.The firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same period last year, the company earned $0.80 earnings per share. The business’s quarterly revenue was down 7.7% on a year-over-year basis. Analysts expect that Pembina Pipeline Corp. will post 2.28 EPS for the current year.

Pembina Pipeline Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be given a dividend of $0.735 per share. This represents a $2.94 dividend on an annualized basis and a dividend yield of 6.1%. This is a positive change from Pembina Pipeline’s previous quarterly dividend of $0.71. The ex-dividend date is Monday, June 15th. Pembina Pipeline’s dividend payout ratio is 108.33%.

Pembina Pipeline Company 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.