Baxter Bros Inc. Sells 1,500 Shares of Pembina Pipeline Co. (NYSE:PBA)

Baxter Bros Inc. reduced its holdings in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 9.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,700 shares of the pipeline company’s stock after selling 1,500 shares during the quarter. Baxter Bros Inc.’s holdings in Pembina Pipeline were worth $565,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of PBA. Toronto Dominion Bank increased its holdings in shares of Pembina Pipeline by 97.2% in the second quarter. Toronto Dominion Bank now owns 8,938,488 shares of the pipeline company’s stock worth $331,439,000 after acquiring an additional 4,405,792 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in shares of Pembina Pipeline by 56.9% during the second quarter. Canada Pension Plan Investment Board now owns 8,387,525 shares of the pipeline company’s stock worth $311,142,000 after buying an additional 3,043,200 shares during the period. ClearBridge Investments Ltd boosted its position in shares of Pembina Pipeline by 12.3% during the first quarter. ClearBridge Investments Ltd now owns 7,173,059 shares of the pipeline company’s stock worth $253,496,000 after buying an additional 784,814 shares during the period. Kayne Anderson Capital Advisors LP boosted its position in shares of Pembina Pipeline by 31.1% during the first quarter. Kayne Anderson Capital Advisors LP now owns 2,969,440 shares of the pipeline company’s stock worth $104,940,000 after buying an additional 704,249 shares during the period. Finally, 1832 Asset Management L.P. boosted its position in shares of Pembina Pipeline by 93.7% during the first quarter. 1832 Asset Management L.P. now owns 1,374,359 shares of the pipeline company’s stock worth $48,570,000 after buying an additional 664,843 shares during the period. 55.37% of the stock is currently owned by institutional investors.

Pembina Pipeline Stock Performance

Shares of NYSE PBA opened at $41.60 on Friday. The stock has a 50 day moving average price of $41.51 and a 200 day moving average price of $38.64. Pembina Pipeline Co. has a 52 week low of $31.06 and a 52 week high of $43.44. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.55 and a current ratio of 0.68. The stock has a market capitalization of $24.15 billion, a PE ratio of 17.33, a price-to-earnings-growth ratio of 5.84 and a beta of 1.25.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last issued its quarterly earnings results on Thursday, August 8th. The pipeline company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.54 by $0.21. Pembina Pipeline had a return on equity of 13.68% and a net margin of 23.50%. The firm had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.44 billion. During the same period in the prior year, the firm posted $0.45 earnings per share. The business’s quarterly revenue was up 30.5% compared to the same quarter last year. Analysts predict that Pembina Pipeline Co. will post 2.38 earnings per share for the current fiscal year.

Pembina Pipeline Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Monday, September 16th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 4.81%. Pembina Pipeline’s dividend payout ratio (DPR) is presently 85.00%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Citigroup upped their price objective on Pembina Pipeline from $53.00 to $56.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 28th. Raymond James assumed coverage on Pembina Pipeline in a research report on Friday, October 11th. They set an “outperform” rating for the company. Finally, UBS Group began coverage on Pembina Pipeline in a research report on Wednesday, September 11th. They set a “neutral” rating for the company. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $56.50.

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.