Pembina Pipeline Co. (NYSE:PBA) Shares Sold by Cumberland Partners Ltd

Cumberland Partners Ltd trimmed its stake in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 1.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 146,660 shares of the pipeline company’s stock after selling 2,645 shares during the quarter. Cumberland Partners Ltd’s holdings in Pembina Pipeline were worth $5,048,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Triasima Portfolio Management inc. acquired a new position in shares of Pembina Pipeline in the 4th quarter worth $17,285,000. Legal & General Group Plc grew its holdings in shares of Pembina Pipeline by 3.8% in the 3rd quarter. Legal & General Group Plc now owns 4,880,904 shares of the pipeline company’s stock worth $147,430,000 after acquiring an additional 180,798 shares during the last quarter. Baskin Financial Services Inc. grew its holdings in shares of Pembina Pipeline by 5.0% in the 4th quarter. Baskin Financial Services Inc. now owns 196,108 shares of the pipeline company’s stock worth $6,749,000 after acquiring an additional 9,306 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Pembina Pipeline by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 21,222,536 shares of the pipeline company’s stock worth $637,949,000 after acquiring an additional 351,266 shares during the last quarter. Finally, Deutsche Bank AG grew its holdings in shares of Pembina Pipeline by 1.0% in the 3rd quarter. Deutsche Bank AG now owns 13,391,140 shares of the pipeline company’s stock worth $402,538,000 after acquiring an additional 131,487 shares during the last quarter. 55.37% of the stock is currently owned by institutional investors and hedge funds.

Pembina Pipeline Stock Up 1.1 %

NYSE PBA traded up $0.40 on Tuesday, reaching $35.50. The stock had a trading volume of 582,011 shares, compared to its average volume of 1,054,359. The business has a 50 day moving average price of $34.93 and a 200 day moving average price of $33.66. The company has a current ratio of 0.82, a quick ratio of 0.71 and a debt-to-equity ratio of 0.72. Pembina Pipeline Co. has a 1 year low of $28.15 and a 1 year high of $36.17. The company has a market capitalization of $20.57 billion, a price-to-earnings ratio of 16.06, a P/E/G ratio of 5.21 and a beta of 1.20.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last issued its earnings results on Thursday, February 22nd. The pipeline company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.34. Pembina Pipeline had a return on equity of 13.11% and a net margin of 19.43%. The firm had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.83 billion. On average, analysts forecast that Pembina Pipeline Co. will post 2.23 EPS for the current fiscal year.

Pembina Pipeline Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were given a $0.4944 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.98 dividend on an annualized basis and a dividend yield of 5.57%. This is a boost from Pembina Pipeline’s previous quarterly dividend of $0.48. Pembina Pipeline’s payout ratio is currently 89.14%.

Analysts Set New Price Targets

PBA has been the topic of a number of recent research reports. TheStreet upgraded Pembina Pipeline from a “c” rating to a “b-” rating in a report on Thursday, February 29th. CIBC lifted their price target on Pembina Pipeline from $56.00 to $57.00 and gave the company an “outperformer” rating in a report on Friday. Finally, StockNews.com upgraded Pembina Pipeline from a “hold” rating to a “buy” rating in a report on Friday, April 12th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Pembina Pipeline presently has a consensus rating of “Moderate Buy” and a consensus target price of $52.00.

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.