Triasima Portfolio Management inc. Acquires 258,575 Shares of Pembina Pipeline Co. (NYSE:PBA)

Triasima Portfolio Management inc. lifted its stake in shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 49.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 784,516 shares of the pipeline company’s stock after buying an additional 258,575 shares during the quarter. Pembina Pipeline comprises approximately 2.7% of Triasima Portfolio Management inc.’s investment portfolio, making the stock its 10th largest holding. Triasima Portfolio Management inc. owned about 0.14% of Pembina Pipeline worth $29,095,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Granite Group Advisors LLC grew its holdings in Pembina Pipeline by 5.2% in the first quarter. Granite Group Advisors LLC now owns 6,719 shares of the pipeline company’s stock worth $237,000 after purchasing an additional 330 shares during the period. Gold Investment Management Ltd. grew its stake in shares of Pembina Pipeline by 4.4% in the 2nd quarter. Gold Investment Management Ltd. now owns 10,562 shares of the pipeline company’s stock valued at $392,000 after buying an additional 444 shares during the period. EverSource Wealth Advisors LLC increased its position in Pembina Pipeline by 74.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,081 shares of the pipeline company’s stock valued at $37,000 after buying an additional 462 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Pembina Pipeline by 3.8% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 13,558 shares of the pipeline company’s stock worth $503,000 after buying an additional 500 shares during the period. Finally, Cigna Investments Inc. New boosted its holdings in Pembina Pipeline by 4.8% in the second quarter. Cigna Investments Inc. New now owns 11,014 shares of the pipeline company’s stock worth $409,000 after acquiring an additional 506 shares in the last quarter. Institutional investors and hedge funds own 55.37% of the company’s stock.

Pembina Pipeline Stock Down 0.4 %

Shares of NYSE:PBA traded down $0.18 during mid-day trading on Friday, hitting $40.46. 1,982,784 shares of the company traded hands, compared to its average volume of 1,136,100. The stock has a 50-day moving average price of $38.53 and a two-hundred day moving average price of $36.76. Pembina Pipeline Co. has a 12-month low of $28.15 and a 12-month high of $40.97. The stock has a market cap of $23.46 billion, a P/E ratio of 17.59, a P/E/G ratio of 5.76 and a beta of 1.25. The company has a current ratio of 0.68, a quick ratio of 0.55 and a debt-to-equity ratio of 0.77.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last posted its quarterly earnings data on Thursday, August 8th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.21. The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.44 billion. Pembina Pipeline had a net margin of 23.50% and a return on equity of 13.68%. The business’s revenue for the quarter was up 30.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.45 EPS. On average, equities research analysts forecast that Pembina Pipeline Co. will post 2.33 earnings per share for the current year.

Pembina Pipeline Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Monday, September 16th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.94%. The ex-dividend date of this dividend is Monday, September 16th. Pembina Pipeline’s payout ratio is 86.52%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Citigroup boosted their price objective on Pembina Pipeline from $53.00 to $56.00 and gave the company a “neutral” rating in a report on Wednesday, August 28th. Scotiabank downgraded shares of Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a report on Sunday, May 19th. Finally, StockNews.com cut shares of Pembina Pipeline from a “buy” rating to a “hold” rating in a report on Monday, May 13th. Three equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average 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.