Louisbourg Investments Inc. Reduces Stock Position in Pembina Pipeline Corp. $PBA

Louisbourg Investments Inc. decreased its position in Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 43.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 129,498 shares of the pipeline company’s stock after selling 97,840 shares during the quarter. Louisbourg Investments Inc.’s holdings in Pembina Pipeline were worth $5,785,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Tobam purchased a new stake in shares of Pembina Pipeline during the fourth quarter worth about $28,000. Caitong International Asset Management Co. Ltd acquired a new stake in Pembina Pipeline during the third quarter worth approximately $31,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in Pembina Pipeline during the fourth quarter worth approximately $36,000. Larson Financial Group LLC grew its stake in Pembina Pipeline by 32.4% in the 3rd quarter. Larson Financial Group LLC now owns 1,059 shares of the pipeline company’s stock worth $43,000 after acquiring an additional 259 shares during the period. Finally, IFP Advisors Inc raised its holdings in Pembina Pipeline by 74.8% in the 4th quarter. IFP Advisors Inc now owns 1,199 shares of the pipeline company’s stock valued at $46,000 after acquiring an additional 513 shares during the last quarter. 55.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PBA has been the topic of a number of recent analyst reports. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Pembina Pipeline in a research note on Tuesday, May 26th. JPMorgan Chase & Co. upped their target price on Pembina Pipeline from $55.00 to $60.00 and gave the company a “neutral” rating in a research note on Thursday, March 19th. Barclays reiterated an “overweight” rating on shares of Pembina Pipeline in a research report on Thursday, May 21st. Wall Street Zen lowered Pembina Pipeline from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, TD Securities upgraded Pembina Pipeline from a “hold” rating to a “buy” rating in a report on Tuesday, May 26th. Six research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Pembina Pipeline currently has a consensus rating of “Hold” and a consensus target price of $62.67.

Pembina Pipeline Stock Performance

Shares of NYSE:PBA opened at $47.18 on Friday. The business has a 50-day moving average of $46.78 and a two-hundred day moving average of $43.49. The firm has a market capitalization of $27.43 billion, a PE ratio of 24.57 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 company has a debt-to-equity ratio of 0.84, a current ratio of 0.83 and a quick ratio of 0.68.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last posted its quarterly 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. The firm had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.06 billion. Pembina Pipeline had a net margin of 22.22% and a return on equity of 11.47%. Pembina Pipeline’s revenue for the quarter was down 7.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.80 earnings per share. As a group, research analysts forecast that Pembina Pipeline Corp. will post 2.28 earnings per share for the current year.

Pembina Pipeline Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be issued a $0.735 dividend. The ex-dividend date is Monday, June 15th. This represents a $2.94 annualized dividend and a yield of 6.2%. This is an increase from Pembina Pipeline’s previous quarterly dividend of $0.71. Pembina Pipeline’s payout ratio is currently 110.94%.

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.