Short Interest in Pembina Pipeline Corp (NYSE:PBA) Increases By 11.1%

Pembina Pipeline Corp (NYSE:PBA) (TSE:PPL) saw a large growth in short interest in the month of May. As of May 29th, there was short interest totalling 5,690,000 shares, a growth of 11.1% from the May 14th total of 5,120,000 shares. Based on an average daily trading volume, of 2,060,000 shares, the short-interest ratio is currently 2.8 days. Currently, 1.0% of the company’s shares are sold short.

PBA traded up $0.35 during trading on Friday, hitting $24.61. The company had a trading volume of 1,038,658 shares, compared to its average volume of 1,129,768. The company has a market capitalization of $13.34 billion, a PE ratio of 12.62, a PEG ratio of 3.23 and a beta of 1.37. Pembina Pipeline has a one year low of $10.58 and a one year high of $40.65. The firm’s 50-day moving average price is $23.96 and its 200 day moving average price is $30.04. The company has a quick ratio of 0.51, a current ratio of 0.61 and a debt-to-equity ratio of 0.77.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last posted its quarterly earnings data on Thursday, May 7th. The pipeline company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.04). Pembina Pipeline had a net margin of 21.49% and a return on equity of 11.30%. The company had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same period in the prior year, the firm posted $0.55 earnings per share. The company’s revenue was down 15.1% compared to the same quarter last year. Sell-side analysts forecast that Pembina Pipeline will post 1.5 earnings per share for the current year.

The firm also recently declared a monthly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, June 24th will be given a dividend of $0.152 per share. The ex-dividend date is Tuesday, June 23rd. This is a boost from Pembina Pipeline’s previous monthly dividend of $0.15. This represents a $1.82 annualized dividend and a yield of 7.41%. Pembina Pipeline’s payout ratio is 90.50%.

Several brokerages have recently issued reports on PBA. Zacks Investment Research raised shares of Pembina Pipeline from a “sell” rating to a “hold” rating in a report on Friday, April 10th. ValuEngine raised shares of Pembina Pipeline from a “sell” rating to a “hold” rating in a report on Friday, May 1st. Canaccord Genuity reissued a “buy” rating on shares of Pembina Pipeline in a report on Tuesday, June 2nd. Royal Bank of Canada boosted their price objective on shares of Pembina Pipeline from $26.00 to $40.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. Finally, Wells Fargo & Co raised shares of Pembina Pipeline from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $50.00 to $56.00 in a research report on Monday, February 24th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Pembina Pipeline presently has an average rating of “Buy” and an average price target of $50.00.

A number of large investors have recently modified their holdings of the business. Crossmark Global Holdings Inc. lifted its position in Pembina Pipeline by 0.5% during the 4th quarter. Crossmark Global Holdings Inc. now owns 52,380 shares of the pipeline company’s stock worth $1,941,000 after buying an additional 285 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in Pembina Pipeline by 1.1% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 52,444 shares of the pipeline company’s stock worth $984,000 after buying an additional 555 shares in the last quarter. Nexus Investment Management Inc. lifted its position in Pembina Pipeline by 1.5% during the 1st quarter. Nexus Investment Management Inc. now owns 41,095 shares of the pipeline company’s stock worth $768,000 after buying an additional 595 shares in the last quarter. Cigna Investments Inc. New lifted its position in Pembina Pipeline by 8.4% during the 4th quarter. Cigna Investments Inc. New now owns 8,199 shares of the pipeline company’s stock worth $314,000 after buying an additional 635 shares in the last quarter. Finally, Samalin Investment Counsel LLC bought a new stake in Pembina Pipeline during the 4th quarter worth about $25,000. 56.66% of the stock is currently owned by hedge funds and other institutional investors.

About Pembina Pipeline

Pembina Pipeline Corporation provides transportation and midstream services for the energy industry in North America. It operates through three divisions: Pipelines, Facilities, and Marketing & New Ventures. The Pipelines division operates conventional, transmission, and oil sands and heavy oil pipeline assets with a total capacity of 3 million barrels of oil serving markets and basins across North America through conventional, transmission, and oil sand pipelines assets.

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