Cumberland Partners Ltd Reduces Stock Position in Pembina Pipeline Corp. $PBA

Cumberland Partners Ltd cut its holdings in Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 22.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 111,322 shares of the pipeline company’s stock after selling 31,534 shares during the quarter. Cumberland Partners Ltd’s holdings in Pembina Pipeline were worth $4,968,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the business. Norges Bank purchased a new stake in Pembina Pipeline in the 4th quarter worth approximately $213,701,000. BCV Asset Management Inc. bought a new stake in shares of Pembina Pipeline in the 4th quarter worth approximately $61,412,000. Morgan Stanley increased its stake in shares of Pembina Pipeline by 45.4% during the fourth quarter. Morgan Stanley now owns 4,723,159 shares of the pipeline company’s stock valued at $179,763,000 after buying an additional 1,475,320 shares during the period. MUFG Securities EMEA plc purchased a new position in shares of Pembina Pipeline during the second quarter valued at approximately $52,514,000. Finally, CIBC Asset Management Inc raised its holdings in shares of Pembina Pipeline by 17.8% during the fourth quarter. CIBC Asset Management Inc now owns 8,620,307 shares of the pipeline company’s stock valued at $329,245,000 after acquiring an additional 1,304,227 shares in the last quarter. Hedge funds and other institutional investors own 55.37% of the company’s stock.

Pembina Pipeline Trading Up 0.3%

PBA opened at $51.37 on Friday. The stock has a market cap of $29.87 billion, a PE ratio of 26.75 and a beta of 0.57. The company has a quick ratio of 0.68, a current ratio of 0.83 and a debt-to-equity ratio of 0.84. The business has a 50 day moving average of $48.33 and a 200-day moving average of $44.99. Pembina Pipeline Corp. has a 52 week low of $35.45 and a 52 week high of $51.58.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last released its quarterly earnings results on Thursday, May 7th. The pipeline company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.07. The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.06 billion. Pembina Pipeline had a return on equity of 11.47% and a net margin of 22.22%.The firm’s revenue was down 7.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.80 earnings per share. Equities research analysts predict that Pembina Pipeline Corp. will post 2.22 earnings per share for the current fiscal year.

Pembina Pipeline Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were issued a dividend of $0.735 per share. This is a boost from Pembina Pipeline’s previous quarterly dividend of $0.71. The ex-dividend date was Monday, June 15th. This represents a $2.94 dividend on an annualized basis and a dividend yield of 5.7%. Pembina Pipeline’s dividend payout ratio (DPR) is presently 110.94%.

Wall Street Analyst Weigh In

PBA has been the subject of a number of research analyst reports. Scotiabank lowered Pembina Pipeline from a “sector outperform” rating to a “sector perform” rating in a research note on Monday. Weiss Ratings lowered shares of Pembina Pipeline from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, July 13th. Barclays restated an “overweight” rating on shares of Pembina Pipeline in a report on Thursday, May 21st. Wall Street Zen raised shares of Pembina Pipeline from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, TD Securities reaffirmed a “buy” rating on shares of Pembina Pipeline in a research note on Thursday, July 16th. Six investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $64.00.

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.