Pembina Pipeline Corp. $PBA Shares Sold by Bank of Nova Scotia

Bank of Nova Scotia lowered its position in Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 14.3% in the second quarter, HoldingsChannel reports. The institutional investor owned 4,690,303 shares of the pipeline company’s stock after selling 781,986 shares during the period. Bank of Nova Scotia’s holdings in Pembina Pipeline were worth $176,055,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. raised its position in Pembina Pipeline by 3.2% during the second quarter. Vanguard Group Inc. now owns 26,114,982 shares of the pipeline company’s stock worth $980,539,000 after acquiring an additional 818,526 shares during the last quarter. TD Asset Management Inc increased its stake in shares of Pembina Pipeline by 5.0% during the 2nd quarter. TD Asset Management Inc now owns 7,298,690 shares of the pipeline company’s stock worth $273,494,000 after purchasing an additional 347,854 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of 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 last quarter. Norges Bank purchased a new stake in Pembina Pipeline in the 2nd quarter valued at approximately $229,613,000. Finally, Scotia Capital Inc. grew its holdings in Pembina Pipeline by 9.1% during the 2nd quarter. Scotia Capital Inc. now owns 5,707,714 shares of the pipeline company’s stock valued at $214,245,000 after buying an additional 476,933 shares during the last quarter. 55.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PBA has been the subject of a number of recent research reports. Raymond James Financial reiterated an “outperform” rating on shares of Pembina Pipeline in a research report on Monday, August 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of Pembina Pipeline in a report on Monday, December 1st. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Pembina Pipeline in a research report on Monday, August 11th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy”.

Pembina Pipeline Stock Performance

NYSE:PBA opened at $39.57 on Monday. The firm’s fifty day simple moving average is $38.65 and its 200 day simple moving average is $37.97. The company has a current ratio of 0.53, a quick ratio of 0.41 and a debt-to-equity ratio of 0.77. 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 price-to-earnings ratio of 19.78 and a beta of 0.63.

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

Pembina Pipeline Announces Dividend

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

Pembina Pipeline Company 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.