Assenagon Asset Management S.A. Sells 352 Shares of Pembina Pipeline Co. (NYSE:PBA)

Assenagon Asset Management S.A. reduced its position in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 2.2% in the first quarter, Holdings Channel.com reports. The fund owned 15,520 shares of the pipeline company’s stock after selling 352 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Pembina Pipeline were worth $548,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of PBA. Norges Bank bought a new position in shares of Pembina Pipeline in the fourth quarter valued at approximately $133,917,000. Healthcare of Ontario Pension Plan Trust Fund raised its stake in Pembina Pipeline by 340.0% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,640,000 shares of the pipeline company’s stock valued at $79,412,000 after purchasing an additional 2,040,000 shares in the last quarter. Capital World Investors purchased a new stake in Pembina Pipeline in the fourth quarter valued at approximately $32,541,000. Mackenzie Financial Corp raised its stake in Pembina Pipeline by 5.7% in the fourth quarter. Mackenzie Financial Corp now owns 12,652,115 shares of the pipeline company’s stock valued at $435,812,000 after purchasing an additional 680,945 shares in the last quarter. Finally, Toronto Dominion Bank raised its stake in Pembina Pipeline by 8.3% in the third quarter. Toronto Dominion Bank now owns 7,699,608 shares of the pipeline company’s stock valued at $231,450,000 after purchasing an additional 593,061 shares in the last quarter. 55.37% of the stock is currently owned by institutional investors.

Pembina Pipeline Price Performance

Shares of PBA stock traded down $0.51 during trading hours on Wednesday, hitting $36.63. 1,762,779 shares of the company’s stock were exchanged, compared to its average volume of 1,047,573. The company has a market capitalization of $21.22 billion, a PE ratio of 15.92, a PEG ratio of 5.45 and a beta of 1.20. Pembina Pipeline Co. has a 12-month low of $28.15 and a 12-month high of $37.47. The business’s 50 day simple moving average is $35.58 and its 200-day simple moving average is $34.46. The company has a current ratio of 1.03, a quick ratio of 0.93 and a debt-to-equity ratio of 0.78.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last posted its quarterly earnings results on Thursday, February 22nd. The pipeline company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.55 by $0.34. The firm had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.83 billion. Pembina Pipeline had a net margin of 21.61% and a return on equity of 13.33%. On average, equities research analysts anticipate that Pembina Pipeline Co. will post 2.27 earnings per share for the current year.

Pembina Pipeline Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 17th will be paid a $0.501 dividend. This represents a $2.00 annualized dividend and a dividend yield of 5.47%. This is an increase from Pembina Pipeline’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Monday, June 17th. Pembina Pipeline’s payout ratio is presently 85.65%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. CIBC raised their target price on shares of Pembina Pipeline from $56.00 to $57.00 and gave the company an “outperformer” rating in a research note on Friday, April 19th. StockNews.com downgraded shares of Pembina Pipeline from a “buy” rating to a “hold” rating in a research note on Monday, May 13th. Scotiabank downgraded shares of Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a research note on Sunday. Finally, TheStreet raised shares of Pembina Pipeline from a “c” rating to a “b-” rating in a research note on Thursday, February 29th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Pembina Pipeline currently has a consensus rating of “Hold” and a consensus target price of $52.00.

Pembina Pipeline 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.