Goldman Sachs Group Inc. Reduces Stock Position in Pembina Pipeline Corp. $PBA

Goldman Sachs Group Inc. cut its holdings in Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 36.3% during the 4th quarter, Holdings Channel reports. The firm owned 4,008,528 shares of the pipeline company’s stock after selling 2,281,037 shares during the period. Goldman Sachs Group Inc.’s holdings in Pembina Pipeline were worth $152,565,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Pembina Pipeline by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 27,233,442 shares of the pipeline company’s stock worth $1,037,512,000 after buying an additional 541,615 shares during the period. TD Asset Management Inc increased its stake in shares of Pembina Pipeline by 3.9% during the third quarter. TD Asset Management Inc now owns 7,582,203 shares of the pipeline company’s stock valued at $306,634,000 after buying an additional 283,513 shares during the period. Scotia Capital Inc. raised its holdings in shares of Pembina Pipeline by 12.6% during the third quarter. Scotia Capital Inc. now owns 6,425,487 shares of the pipeline company’s stock valued at $258,724,000 after acquiring an additional 717,773 shares in the last quarter. Geode Capital Management LLC lifted its stake in Pembina Pipeline by 7.1% in the fourth quarter. Geode Capital Management LLC now owns 5,781,068 shares of the pipeline company’s stock worth $224,837,000 after acquiring an additional 385,201 shares during the period. Finally, Norges Bank purchased a new stake in Pembina Pipeline in the fourth quarter worth $213,701,000. Institutional investors own 55.37% of the company’s stock.

Pembina Pipeline Price Performance

Shares of PBA stock opened at $48.85 on Monday. The business’s fifty day moving average is $45.93 and its 200 day moving average is $42.60. 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 stock has a market cap of $28.40 billion, a price-to-earnings ratio of 25.44 and a beta of 0.57. Pembina Pipeline Corp. has a twelve month low of $35.45 and a twelve month high of $50.10.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last announced its quarterly earnings data on Thursday, May 7th. The pipeline company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.52 by $0.07. Pembina Pipeline had a return on equity of 11.47% and a net margin of 22.22%.The business had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same quarter last year, the firm posted $0.80 earnings per share. The company’s revenue for the quarter was down 7.7% on a year-over-year basis. Research analysts expect that Pembina Pipeline Corp. will post 2.28 EPS for the current fiscal year.

Pembina Pipeline Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be given a dividend of $0.735 per share. This is an increase from Pembina Pipeline’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Monday, June 15th. This represents a $2.94 dividend on an annualized basis and a yield of 6.0%. Pembina Pipeline’s dividend payout ratio is 108.33%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on PBA shares. Royal Bank Of Canada boosted their price objective on shares of Pembina Pipeline from $64.00 to $68.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Pembina Pipeline in a research report on Tuesday, May 26th. Wall Street Zen raised shares of Pembina Pipeline from a “sell” rating to a “hold” rating in a research note on Sunday, May 10th. BMO Capital Markets reiterated a “market perform” rating on shares of Pembina Pipeline in a research report on Tuesday, May 26th. Finally, Weiss Ratings raised shares of Pembina Pipeline from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 2nd. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.67.

About Pembina Pipeline

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.