Pembina Pipeline Co. (NYSE:PBA) Sees Large Decline in Short Interest

Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) was the target of a significant decline in short interest in October. As of October 15th, there was short interest totalling 4,500,000 shares, a decline of 15.4% from the September 30th total of 5,320,000 shares. Based on an average daily volume of 1,210,000 shares, the short-interest ratio is currently 3.7 days. Approximately 0.8% of the shares of the stock are sold short.

Pembina Pipeline Price Performance

Shares of NYSE:PBA traded up $0.08 during trading on Wednesday, hitting $41.91. 682,802 shares of the company were exchanged, compared to its average volume of 1,122,042. Pembina Pipeline has a 1-year low of $30.52 and a 1-year high of $43.44. The company has a market capitalization of $24.33 billion, a P/E ratio of 17.46, a price-to-earnings-growth ratio of 5.94 and a beta of 1.25. The company has a quick ratio of 0.55, a current ratio of 0.68 and a debt-to-equity ratio of 0.77. The business’s 50 day moving average is $41.42 and its 200-day moving average is $38.54.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last issued its earnings results 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 business had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.44 billion. Pembina Pipeline had a return on equity of 13.68% and a net margin of 23.50%. The business’s revenue for the quarter was up 30.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.45 EPS. Equities analysts forecast that Pembina Pipeline will post 2.38 earnings per share for the current year.

Pembina Pipeline Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Monday, September 16th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.77%. The ex-dividend date was Monday, September 16th. Pembina Pipeline’s dividend payout ratio is currently 85.00%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Raymond James initiated coverage on Pembina Pipeline in a report on Friday, October 11th. They issued an “outperform” rating on the stock. UBS Group started coverage on Pembina Pipeline in a research note on Wednesday, September 11th. They issued a “neutral” rating on the stock. Finally, Citigroup lifted their target price on Pembina Pipeline from $53.00 to $56.00 and gave the company a “neutral” rating in a research report on Wednesday, August 28th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $56.50.

Institutional Investors Weigh In On Pembina Pipeline

Hedge funds have recently added to or reduced their stakes in the business. Godsey & Gibb Inc. acquired a new position in shares of Pembina Pipeline in the 3rd quarter worth approximately $25,000. Blue Trust Inc. raised its holdings in shares of Pembina Pipeline by 223.8% in the 3rd quarter. Blue Trust Inc. now owns 735 shares of the pipeline company’s stock worth $30,000 after acquiring an additional 508 shares during the last quarter. CENTRAL TRUST Co lifted its holdings in shares of Pembina Pipeline by 65.0% in the third quarter. CENTRAL TRUST Co now owns 825 shares of the pipeline company’s stock valued at $34,000 after purchasing an additional 325 shares in the last quarter. Beacon Capital Management LLC purchased a new position in Pembina Pipeline during the 1st quarter worth $37,000. Finally, EverSource Wealth Advisors LLC grew its position in Pembina Pipeline by 30.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,668 shares of the pipeline company’s stock worth $65,000 after purchasing an additional 387 shares in the last quarter. 55.37% of the stock is currently owned by institutional investors and hedge funds.

Pembina Pipeline Company Profile

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.