Natixis Advisors L.P. Has $652,000 Holdings in Pembina Pipeline Co. (NYSE:PBA)

Posted by on Sep 7th, 2023

Natixis Advisors L.P. cut its stake in Pembina Pipeline Co. (NYSE:PBA – Free Report) (TSE:PPL) by 5.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,111 shares of the pipeline company’s stock after selling 1,188 shares during the period. Natixis Advisors L.P.’s holdings in Pembina Pipeline were worth $652,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Envestnet Asset Management Inc. raised its holdings in shares of Pembina Pipeline by 30.5% in the 1st quarter. Envestnet Asset Management Inc. now owns 202,128 shares of the pipeline company’s stock worth $6,549,000 after buying an additional 47,267 shares in the last quarter. Barrett & Company Inc. acquired a new stake in Pembina Pipeline during the 1st quarter valued at $241,000. Commonwealth Equity Services LLC increased its holdings in Pembina Pipeline by 2.9% during the 1st quarter. Commonwealth Equity Services LLC now owns 199,304 shares of the pipeline company’s stock valued at $6,457,000 after purchasing an additional 5,678 shares in the last quarter. Citigroup Inc. increased its holdings in Pembina Pipeline by 11.3% during the 1st quarter. Citigroup Inc. now owns 161,572 shares of the pipeline company’s stock valued at $5,227,000 after purchasing an additional 16,423 shares in the last quarter. Finally, Icon Wealth Partners LLC acquired a new stake in Pembina Pipeline during the 1st quarter valued at $131,000. 53.86% of the stock is owned by institutional investors and hedge funds.

Pembina Pipeline Stock Down 2.0 %

NYSE:PBA opened at $30.49 on Thursday. Pembina Pipeline Co. has a 12-month low of $29.59 and a 12-month high of $36.93. The company has a quick ratio of 0.52, a current ratio of 0.62 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $16.75 billion, a P/E ratio of 8.31, a P/E/G ratio of 4.96 and a beta of 1.28. The stock’s fifty day simple moving average is $30.94 and its 200-day simple moving average is $31.68.

Pembina Pipeline (NYSE:PBA – Get Free Report) (TSE:PPL) last posted its quarterly earnings results on Thursday, August 3rd. The pipeline company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.01). Pembina Pipeline had a return on equity of 14.16% and a net margin of 28.87%. The company had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.57 billion. Equities research analysts expect that Pembina Pipeline Co. will post 2.1 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, September 29th. Shareholders of record on Friday, September 15th will be issued a dividend of $0.504 per share. The ex-dividend date of this dividend is Thursday, September 14th. This is a positive change from Pembina Pipeline’s previous quarterly dividend of $0.49. This represents a $2.02 annualized dividend and a yield of 6.61%. Pembina Pipeline’s payout ratio is currently 54.77%.

Analysts Set New Price Targets

PBA has been the subject of a number of recent analyst reports. BMO Capital Markets dropped their price target on Pembina Pipeline from C$54.00 to C$50.00 in a report on Friday, August 4th. Stifel Nicolaus assumed coverage on Pembina Pipeline in a report on Wednesday, June 21st. They set a “buy” rating for the company. TD Securities lowered their target price on Pembina Pipeline from C$54.00 to C$50.00 in a research note on Tuesday, August 8th. StockNews.com assumed coverage on Pembina Pipeline in a research note on Thursday, August 17th. They issued a “hold” rating for the company. Finally, Credit Suisse Group lowered their target price on Pembina Pipeline from C$52.00 to C$51.00 and set an “outperform” rating for the company in a research note on Wednesday, August 16th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $49.86.

Get Our Latest Research Report on PBA

Pembina Pipeline Company Profile

(Free Report)

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 2.8 millions of barrels of oil equivalent per day, the ground storage capacity of 11 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.

See Also

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Institutional Ownership by Quarter for Pembina Pipeline (NYSE:PBA)

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