Cambridge Investment Research Advisors Inc. Lowers Holdings in Pembina Pipeline Corp (NYSE:PBA)

Cambridge Investment Research Advisors Inc. decreased its stake in shares of Pembina Pipeline Corp (NYSE:PBA) (TSE:PPL) by 11.6% in the second quarter, Holdings Channel reports. The institutional investor owned 10,672 shares of the pipeline company’s stock after selling 1,398 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Pembina Pipeline were worth $397,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Cornerstone Advisors Inc. raised its stake in shares of Pembina Pipeline by 51.7% in the second quarter. Cornerstone Advisors Inc. now owns 804 shares of the pipeline company’s stock worth $30,000 after purchasing an additional 274 shares during the last quarter. Raymond James Trust N.A. raised its stake in shares of Pembina Pipeline by 3.2% in the second quarter. Raymond James Trust N.A. now owns 9,828 shares of the pipeline company’s stock worth $366,000 after purchasing an additional 302 shares during the last quarter. Gradient Investments LLC raised its stake in shares of Pembina Pipeline by 37.2% in the second quarter. Gradient Investments LLC now owns 1,229 shares of the pipeline company’s stock worth $46,000 after purchasing an additional 333 shares during the last quarter. Broderick Brian C raised its stake in shares of Pembina Pipeline by 1.5% in the second quarter. Broderick Brian C now owns 23,603 shares of the pipeline company’s stock worth $878,000 after purchasing an additional 350 shares during the last quarter. Finally, Riverhead Capital Management LLC raised its stake in shares of Pembina Pipeline by 10.3% in the second quarter. Riverhead Capital Management LLC now owns 4,300 shares of the pipeline company’s stock worth $154,000 after purchasing an additional 400 shares during the last quarter. Institutional investors and hedge funds own 52.21% of the company’s stock.

PBA stock opened at $35.73 on Friday. Pembina Pipeline Corp has a 1-year low of $28.30 and a 1-year high of $38.56. The business has a fifty day moving average price of $36.62 and a 200-day moving average price of $36.72. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.68 and a quick ratio of 0.62. The stock has a market capitalization of $18.33 billion, a P/E ratio of 20.19, a P/E/G ratio of 3.29 and a beta of 0.73.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last posted its quarterly earnings results on Thursday, August 1st. The pipeline company reported $1.23 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.81. Pembina Pipeline had a return on equity of 13.92% and a net margin of 22.20%. The firm had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.68 billion. During the same quarter in the previous year, the business earned $0.43 earnings per share. The company’s revenue was up 3.7% on a year-over-year basis. As a group, analysts anticipate that Pembina Pipeline Corp will post 2.15 earnings per share for the current year.

The firm also recently declared a monthly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 25th will be paid a $0.151 dividend. This represents a $1.81 annualized dividend and a dividend yield of 5.07%. The ex-dividend date is Thursday, October 24th. Pembina Pipeline’s dividend payout ratio is currently 101.69%.

PBA has been the subject of several recent analyst reports. Zacks Investment Research upgraded Pembina Pipeline from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a research note on Wednesday. ValuEngine upgraded Pembina Pipeline from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $40.00.

Pembina Pipeline Profile

Pembina Pipeline Corporation provides transportation and midstream services for the energy industry in North America. It operates through three divisions: Pipelines, Facilities, and Marketing & New Ventures. The Pipelines division operates conventional, transmission, and oil sands and heavy oil pipeline assets with a total capacity of 3 million barrels of oil serving markets and basins across North America through conventional, transmission, and oil sand pipelines assets.

Featured Article: Why are analyst ratings important in trading stocks?

Want to see what other hedge funds are holding PBA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pembina Pipeline Corp (NYSE:PBA) (TSE:PPL).

Institutional Ownership by Quarter for Pembina Pipeline (NYSE:PBA)

Receive News & Ratings for Pembina Pipeline Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pembina Pipeline and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit