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

Addenda Capital Inc. trimmed its stake in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 3.8% in the 1st quarter, HoldingsChannel reports. The fund owned 635,252 shares of the pipeline company’s stock after selling 25,150 shares during the quarter. Pembina Pipeline comprises 1.1% of Addenda Capital Inc.’s investment portfolio, making the stock its 26th largest position. Addenda Capital Inc.’s holdings in Pembina Pipeline were worth $22,450,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of Pembina Pipeline during the fourth quarter valued at about $133,917,000. Capital World Investors purchased a new stake in Pembina Pipeline during the fourth quarter valued at approximately $32,541,000. Mackenzie Financial Corp boosted its stake in Pembina Pipeline by 5.7% in the fourth quarter. Mackenzie Financial Corp now owns 12,652,115 shares of the pipeline company’s stock valued at $435,812,000 after acquiring an additional 680,945 shares in the last quarter. Toronto Dominion Bank grew its holdings in Pembina Pipeline by 8.3% in the third quarter. Toronto Dominion Bank now owns 7,699,608 shares of the pipeline company’s stock worth $231,450,000 after purchasing an additional 593,061 shares during the last quarter. Finally, Triasima Portfolio Management inc. acquired a new position in shares of Pembina Pipeline during the fourth quarter worth $17,285,000. Institutional investors own 55.37% of the company’s stock.

Analyst Ratings Changes

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

Pembina Pipeline Stock Performance

NYSE PBA traded down $0.11 during trading hours on Friday, reaching $37.08. The stock had a trading volume of 1,078,291 shares, compared to its average volume of 1,122,537. Pembina Pipeline Co. has a 52-week low of $28.15 and a 52-week high of $37.67. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.93 and a current ratio of 1.03. The stock has a market cap of $21.50 billion, a P/E ratio of 16.12, a price-to-earnings-growth ratio of 5.28 and a beta of 1.24. The stock has a fifty day moving average of $36.48 and a 200 day moving average of $35.19.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last released its quarterly earnings data on Thursday, May 9th. The pipeline company reported $0.54 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.54. Pembina Pipeline had a net margin of 21.61% and a return on equity of 13.33%. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.83 billion. Sell-side analysts predict that Pembina Pipeline Co. will post 2.32 earnings per share for the current year.

Pembina Pipeline Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Monday, June 17th will be paid a dividend of $0.501 per share. The ex-dividend date of this dividend is Monday, June 17th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.40%. This is a positive change from Pembina Pipeline’s previous quarterly dividend of $0.49. Pembina Pipeline’s dividend payout ratio (DPR) is presently 86.96%.

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.