Short Interest in Pembina Pipeline Corp (PBA) Drops By 53.2%
Pembina Pipeline Corp (NYSE:PBA) (TSE:PPL) was the recipient of a significant drop in short interest in October. As of October 13th, there was short interest totalling 4,737,007 shares, a drop of 53.2% from the September 29th total of 10,123,606 shares. Based on an average trading volume of 442,857 shares, the days-to-cover ratio is currently 10.7 days. Approximately 1.2% of the company’s stock are sold short.
Several brokerages recently weighed in on PBA. BidaskClub lowered shares of Pembina Pipeline Corp from a “sell” rating to a “strong sell” rating in a research report on Monday, August 14th. Zacks Investment Research lowered shares of Pembina Pipeline Corp from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. Finally, AltaCorp Capital raised shares of Pembina Pipeline Corp from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, July 19th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the stock. Pembina Pipeline Corp presently has a consensus rating of “Buy” and an average target price of $43.00.
Pembina Pipeline Corp (NYSE PBA) opened at 32.76 on Monday. The company’s 50-day moving average is $33.99 and its 200 day moving average is $33.01. Pembina Pipeline Corp has a 12 month low of $27.44 and a 12 month high of $35.63. The company has a market cap of $13.20 billion, a price-to-earnings ratio of 31.11 and a beta of 0.73.
Pembina Pipeline Corp (NYSE:PBA) (TSE:PPL) last released its quarterly earnings results on Tuesday, August 1st. The pipeline company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.08). Pembina Pipeline Corp had a return on equity of 8.60% and a net margin of 12.12%. The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same period last year, the company earned $0.25 EPS. The company’s revenue was up 13.5% compared to the same quarter last year. Equities analysts forecast that Pembina Pipeline Corp will post $1.24 earnings per share for the current fiscal year.
The company also recently declared a monthly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Wednesday, October 25th will be given a dividend of $0.144 per share. The ex-dividend date is Tuesday, October 24th. This represents a $1.73 dividend on an annualized basis and a yield of 5.27%. This is an increase from Pembina Pipeline Corp’s previous monthly dividend of $0.14. Pembina Pipeline Corp’s dividend payout ratio is 178.35%.
A number of large investors have recently added to or reduced their stakes in the business. HighTower Advisors LLC boosted its position in Pembina Pipeline Corp by 1.2% during the 1st quarter. HighTower Advisors LLC now owns 7,730 shares of the pipeline company’s stock worth $245,000 after acquiring an additional 93 shares during the last quarter. Girard Partners LTD. boosted its position in Pembina Pipeline Corp by 0.9% during the 2nd quarter. Girard Partners LTD. now owns 11,498 shares of the pipeline company’s stock worth $381,000 after acquiring an additional 97 shares during the last quarter. Sei Investments Co. boosted its position in Pembina Pipeline Corp by 0.5% during the 2nd quarter. Sei Investments Co. now owns 24,708 shares of the pipeline company’s stock worth $818,000 after acquiring an additional 125 shares during the last quarter. Schroder Investment Management Group boosted its position in Pembina Pipeline Corp by 0.7% during the 2nd quarter. Schroder Investment Management Group now owns 42,207 shares of the pipeline company’s stock worth $1,811,000 after acquiring an additional 275 shares during the last quarter. Finally, Bard Associates Inc. boosted its position in Pembina Pipeline Corp by 0.5% during the 2nd quarter. Bard Associates Inc. now owns 54,992 shares of the pipeline company’s stock worth $1,821,000 after acquiring an additional 300 shares during the last quarter. 50.24% of the stock is owned by hedge funds and other institutional investors.
About Pembina Pipeline Corp
Pembina Pipeline Corporation is an energy transportation and service provider. The Company operates through four segments. The Conventional Pipelines segment consists of the tariff-based operations of pipelines and related facilities to deliver crude oil, condensate and natural gas liquids (NGL) in Alberta, British Columbia, Saskatchewan, and North Dakota, United States.
Receive News & Ratings for Pembina Pipeline Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pembina Pipeline Corp and related companies with MarketBeat.com's FREE daily email newsletter.