Achmea Investment Management B.V. Sells 64,849 Shares of Pembina Pipeline Corp. $PBA

Achmea Investment Management B.V. reduced its holdings in Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 13.1% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 429,382 shares of the pipeline company’s stock after selling 64,849 shares during the quarter. Achmea Investment Management B.V.’s holdings in Pembina Pipeline were worth $17,364,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PBA. Caitong International Asset Management Co. Ltd bought a new position in shares of Pembina Pipeline in the 3rd quarter worth $31,000. Westside Investment Management Inc. increased its holdings in Pembina Pipeline by 100.0% in the third quarter. Westside Investment Management Inc. now owns 808 shares of the pipeline company’s stock valued at $32,000 after purchasing an additional 404 shares during the last quarter. Physician Wealth Advisors Inc. lifted its stake in Pembina Pipeline by 441.2% in the third quarter. Physician Wealth Advisors Inc. now owns 920 shares of the pipeline company’s stock valued at $37,000 after buying an additional 750 shares during the period. Golden State Wealth Management LLC acquired a new position in Pembina Pipeline in the third quarter valued at about $40,000. Finally, Larson Financial Group LLC boosted its holdings in Pembina Pipeline by 32.4% during the third quarter. Larson Financial Group LLC now owns 1,059 shares of the pipeline company’s stock worth $43,000 after buying an additional 259 shares during the last quarter. 55.37% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on PBA shares. TD Securities lowered Pembina Pipeline from a “buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Weiss Ratings upgraded shares of Pembina Pipeline from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 2nd. BMO Capital Markets reissued a “market perform” rating on shares of Pembina Pipeline in a research note on Friday, February 27th. Finally, Zacks Research upgraded shares of Pembina Pipeline from a “strong sell” rating to a “hold” rating in a report on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $60.00.

Pembina Pipeline Trading Down 1.1%

PBA opened at $44.06 on Wednesday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.61 and a quick ratio of 0.47. Pembina Pipeline Corp. has a fifty-two week low of $34.13 and a fifty-two week high of $45.09. The company’s 50 day moving average price is $42.11 and its two-hundred day moving average price is $39.83. The firm has a market capitalization of $25.60 billion, a price-to-earnings ratio of 23.19 and a beta of 0.68.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last issued its quarterly earnings results on Thursday, February 26th. The pipeline company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.06. Pembina Pipeline had a net margin of 21.76% and a return on equity of 11.17%. The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same quarter in the previous year, the business earned $0.92 earnings per share. Pembina Pipeline’s revenue was down 10.8% compared to the same quarter last year. As a group, research analysts predict that Pembina Pipeline Corp. will post 2.15 earnings per share for the current year.

Pembina Pipeline Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be issued a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, March 16th. This represents a $2.84 annualized dividend and a yield of 6.4%. Pembina Pipeline’s payout ratio is presently 109.47%.

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.