Pembina Pipeline Corp. $PBA Shares Sold by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership trimmed its stake in Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 57.5% during the second quarter, Holdings Channel.com reports. The fund owned 1,141,708 shares of the pipeline company’s stock after selling 1,543,659 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Pembina Pipeline were worth $42,857,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Cetera Investment Advisers boosted its holdings in Pembina Pipeline by 6.2% in the first quarter. Cetera Investment Advisers now owns 48,289 shares of the pipeline company’s stock valued at $1,933,000 after purchasing an additional 2,834 shares during the period. Goldman Sachs Group Inc. increased its holdings in Pembina Pipeline by 78.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 7,088,945 shares of the pipeline company’s stock worth $283,770,000 after purchasing an additional 3,108,920 shares during the period. Tectonic Advisors LLC raised its position in Pembina Pipeline by 64.6% in the 2nd quarter. Tectonic Advisors LLC now owns 26,479 shares of the pipeline company’s stock valued at $993,000 after purchasing an additional 10,390 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Pembina Pipeline by 1.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,571,245 shares of the pipeline company’s stock valued at $62,839,000 after purchasing an additional 25,265 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board purchased a new position in shares of Pembina Pipeline in the 2nd quarter valued at about $1,658,000. 55.37% of the stock is currently owned by institutional investors and hedge funds.

Pembina Pipeline Price Performance

Shares of PBA opened at $39.57 on Friday. The company has a current ratio of 0.53, a quick ratio of 0.41 and a debt-to-equity ratio of 0.77. The stock’s 50 day moving average is $38.65 and its two-hundred day moving average is $37.96. Pembina Pipeline Corp. has a twelve month low of $34.13 and a twelve month high of $42.40. The firm has a market capitalization of $22.99 billion, a PE ratio of 19.78 and a beta of 0.63.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last released its quarterly earnings data on Thursday, November 6th. The pipeline company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.14). The company had revenue of $911.47 million for the quarter, compared to analysts’ expectations of $1.42 billion. Pembina Pipeline had a return on equity of 11.59% and a net margin of 22.17%.The firm’s quarterly revenue was down 2.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.60 EPS. Research analysts anticipate that Pembina Pipeline Corp. will post 2.15 earnings per share for the current year.

Pembina Pipeline Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be issued a $0.71 dividend. The ex-dividend date is Monday, December 15th. This represents a $2.84 annualized dividend and a yield of 7.2%. Pembina Pipeline’s payout ratio is 103.50%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. BMO Capital Markets reaffirmed an “outperform” rating on shares of Pembina Pipeline in a research report on Monday, August 11th. Raymond James Financial reaffirmed an “outperform” rating on shares of Pembina Pipeline in a report on Monday, August 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Pembina Pipeline in a research report on Monday. Finally, Wall Street Zen downgraded Pembina Pipeline from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.

About Pembina Pipeline

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.