Addenda Capital Inc. Sells 25,150 Shares of Pembina Pipeline Co. (NYSE:PBA)

Addenda Capital Inc. lessened its holdings in shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 3.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 635,252 shares of the pipeline company’s stock after selling 25,150 shares during the quarter. Pembina Pipeline comprises approximately 1.1% of Addenda Capital Inc.’s portfolio, making the stock its 26th biggest holding. Addenda Capital Inc. owned 0.11% of Pembina Pipeline worth $22,450,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. ICA Group Wealth Management LLC bought a new position in Pembina Pipeline in the 4th quarter worth approximately $25,000. Baystate Wealth Management LLC purchased a new position in shares of Pembina Pipeline in the fourth quarter valued at $34,000. EverSource Wealth Advisors LLC raised its stake in shares of Pembina Pipeline by 74.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,081 shares of the pipeline company’s stock valued at $37,000 after purchasing an additional 462 shares during the period. First Horizon Advisors Inc. lifted its holdings in Pembina Pipeline by 303.7% during the 4th quarter. First Horizon Advisors Inc. now owns 1,518 shares of the pipeline company’s stock worth $52,000 after purchasing an additional 1,142 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV boosted its stake in Pembina Pipeline by 22.6% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,786 shares of the pipeline company’s stock worth $61,000 after purchasing an additional 329 shares during the period. Hedge funds and other institutional investors own 55.37% of the company’s stock.

Pembina Pipeline Trading Down 0.3 %

Shares of NYSE PBA traded down $0.11 during midday trading on Friday, reaching $37.08. The company had a trading volume of 1,078,291 shares, compared to its average volume of 1,122,537. The firm’s fifty day moving average price is $36.48 and its 200-day moving average price is $35.19. The company has a quick ratio of 0.93, a current ratio of 1.03 and a debt-to-equity ratio of 0.78. Pembina Pipeline Co. has a one year low of $28.15 and a one year high of $37.67. The stock has a market cap of $21.50 billion, a PE ratio of 16.12, a price-to-earnings-growth ratio of 5.28 and a beta of 1.24.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last issued its earnings results on Thursday, May 9th. The pipeline company reported $0.54 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.54. The firm had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.83 billion. Pembina Pipeline had a net margin of 21.61% and a return on equity of 13.33%. On average, equities research analysts anticipate that Pembina Pipeline Co. will post 2.32 earnings per share for the current year.

Pembina Pipeline Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 17th will be paid a $0.501 dividend. The ex-dividend date is Monday, June 17th. This is a boost from Pembina Pipeline’s previous quarterly dividend of $0.49. This represents a $2.00 annualized dividend and a dividend yield of 5.40%. Pembina Pipeline’s dividend payout ratio (DPR) is presently 86.96%.

Analyst Ratings Changes

Several research analysts have commented on the stock. StockNews.com downgraded shares of Pembina Pipeline from a “buy” rating to a “hold” rating in a report on Monday, May 13th. Scotiabank downgraded Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a research report on Sunday, May 19th. CIBC upped their price objective on shares of Pembina Pipeline from $56.00 to $57.00 and gave the stock an “outperformer” rating in a research report on Friday, April 19th. Finally, TheStreet upgraded shares of Pembina Pipeline from a “c” rating to a “b-” rating in a research report on Thursday, February 29th. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $52.00.

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.