Short Interest in Pembina Pipeline Co. (NYSE:PBA) Declines By 15.4%

Pembina Pipeline Co. (NYSE:PBA - Get Free Report) TSE: PPL saw a large drop in short interest during the month of October. As of October 15th, there was short interest totalling 4,500,000 shares, a drop of 15.4% from the September 30th total of 5,320,000 shares. Based on an average daily trading volume, of 1,210,000 shares, the days-to-cover ratio is presently 3.7 days. Approximately 0.8% of the shares of the company are sold short.

Hedge Funds Weigh In On Pembina Pipeline

Several hedge funds have recently bought and sold shares of the company. AustralianSuper Pty Ltd bought a new position in Pembina Pipeline in the 3rd quarter valued at about $3,317,000. US Bancorp DE grew its holdings in shares of Pembina Pipeline by 22.0% during the 3rd quarter. US Bancorp DE now owns 11,161 shares of the pipeline company's stock valued at $460,000 after purchasing an additional 2,014 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Pembina Pipeline by 8.8% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 14,757 shares of the pipeline company's stock valued at $609,000 after purchasing an additional 1,199 shares during the last quarter. Tectonic Advisors LLC bought a new stake in shares of Pembina Pipeline during the 3rd quarter valued at approximately $301,000. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Pembina Pipeline by 16.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 24,697 shares of the pipeline company's stock valued at $1,019,000 after purchasing an additional 3,399 shares during the last quarter. 55.37% of the stock is owned by institutional investors.

Pembina Pipeline Stock Performance

NYSE:PBA traded down $0.37 during mid-day trading on Monday, reaching $42.13. 586,129 shares of the company's stock were exchanged, compared to its average volume of 1,125,989. Pembina Pipeline has a one year low of $30.41 and a one year high of $43.44. The firm has a market capitalization of $24.45 billion, a PE ratio of 17.55, a price-to-earnings-growth ratio of 5.94 and a beta of 1.25. The business's fifty day simple moving average is $41.30 and its two-hundred day simple moving average is $38.47. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.55 and a current ratio of 0.68.

Pembina Pipeline (NYSE:PBA - Get Free Report) TSE: PPL last released its quarterly earnings results on Thursday, August 8th. The pipeline company reported $0.75 EPS for the quarter, topping analysts' consensus estimates of $0.54 by $0.21. Pembina Pipeline had a net margin of 23.50% and a return on equity of 13.68%. The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same period last year, the firm earned $0.45 earnings per share. Pembina Pipeline's revenue for the quarter was up 30.5% compared to the same quarter last year. Analysts anticipate that Pembina Pipeline will post 2.38 earnings per share for the current fiscal year.

Pembina Pipeline Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Monday, September 16th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.75%. The ex-dividend date of this dividend was Monday, September 16th. Pembina Pipeline's dividend payout ratio is currently 85.00%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Raymond James assumed coverage on shares of Pembina Pipeline in a research note on Friday, October 11th. They set an "outperform" rating for the company. UBS Group assumed coverage on shares of Pembina Pipeline in a research note on Wednesday, September 11th. They set a "neutral" rating for the company. Finally, Citigroup raised their target price on shares of Pembina Pipeline from $53.00 to $56.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 28th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $56.50.

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.