Catalyst Capital Advisors LLC Sells 45,170 Shares of Pembina Pipeline Corp. $PBA

Catalyst Capital Advisors LLC lessened its position in Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 10.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 399,887 shares of the pipeline company’s stock after selling 45,170 shares during the quarter. Catalyst Capital Advisors LLC owned 0.07% of Pembina Pipeline worth $15,220,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in PBA. Norges Bank bought a new position in Pembina Pipeline in the fourth quarter valued at $213,701,000. MUFG Securities EMEA plc bought a new position in Pembina Pipeline in the second quarter valued at $52,514,000. Dimensional Fund Advisors LP increased its stake in Pembina Pipeline by 61.6% in the third quarter. Dimensional Fund Advisors LP now owns 2,328,709 shares of the pipeline company’s stock valued at $94,207,000 after acquiring an additional 887,413 shares during the last quarter. Scotia Capital Inc. increased its stake in Pembina Pipeline by 12.6% in 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 during the last quarter. Finally, Hillsdale Investment Management Inc. increased its stake in Pembina Pipeline by 187.4% in the fourth quarter. Hillsdale Investment Management Inc. now owns 917,125 shares of the pipeline company’s stock valued at $35,002,000 after acquiring an additional 597,971 shares during the last quarter. Institutional investors own 55.37% of the company’s stock.

Pembina Pipeline Stock Down 1.4%

Shares of NYSE:PBA opened at $46.58 on Friday. The stock’s 50-day moving average price is $45.58 and its 200-day moving average price is $42.20. Pembina Pipeline Corp. has a 12-month low of $35.45 and a 12-month high of $50.10. The stock has a market capitalization of $27.08 billion, a P/E ratio of 24.26 and a beta of 0.58. The company has a current ratio of 0.83, a quick ratio of 0.68 and a debt-to-equity ratio of 0.84.

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

Pembina Pipeline Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be paid a $0.735 dividend. The ex-dividend date of this dividend is Monday, June 15th. This is a boost from Pembina Pipeline’s previous quarterly dividend of $0.71. This represents a $2.94 annualized dividend and a dividend yield of 6.3%. Pembina Pipeline’s payout ratio is 108.33%.

Analysts Set New Price Targets

A number of research analysts recently commented on PBA shares. Barclays reissued an “overweight” rating on shares of Pembina Pipeline in a research note on Thursday, May 21st. Weiss Ratings raised Pembina Pipeline from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 2nd. BMO Capital Markets reaffirmed a “market perform” rating on shares of Pembina Pipeline in a research note on Tuesday. TD Securities raised Pembina Pipeline from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, Royal Bank Of Canada raised their price objective on Pembina Pipeline from $64.00 to $68.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $62.67.

Pembina Pipeline Profile

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.