4,657,463 Shares in Pembina Pipeline Co. (NYSE:PBA) Purchased by Norges Bank

Norges Bank purchased a new position in Pembina Pipeline Co. (NYSE:PBA - Free Report) TSE: PPL in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,657,463 shares of the pipeline company's stock, valued at approximately $171,860,000. Norges Bank owned about 0.80% of Pembina Pipeline as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the company. Safe Harbor Fiduciary LLC bought a new position in Pembina Pipeline in the 3rd quarter valued at $26,000. Versant Capital Management Inc purchased a new position in Pembina Pipeline in the 4th quarter worth about $27,000. Sound Income Strategies LLC purchased a new position in Pembina Pipeline in the 4th quarter worth about $27,000. Dunhill Financial LLC bought a new stake in Pembina Pipeline during the 3rd quarter valued at about $28,000. Finally, Eastern Bank purchased a new stake in Pembina Pipeline in the 4th quarter valued at about $29,000. 55.37% of the stock is owned by hedge funds and other institutional investors.

Pembina Pipeline Stock Performance

PBA stock traded down $3.23 during trading on Friday, hitting $37.17. 2,017,633 shares of the company traded hands, compared to its average volume of 1,261,687. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.65 and a quick ratio of 0.51. Pembina Pipeline Co. has a 1 year low of $33.83 and a 1 year high of $43.44. The stock's 50-day simple moving average is $37.84 and its 200 day simple moving average is $39.26. The company has a market cap of $21.58 billion, a PE ratio of 15.36 and a beta of 1.26.

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Pembina Pipeline Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were issued a dividend of $0.4783 per share. This represents a $1.91 dividend on an annualized basis and a yield of 5.15%. The ex-dividend date was Monday, March 17th. Pembina Pipeline's dividend payout ratio (DPR) is presently 86.76%.

Analyst Ratings Changes

Several research firms have commented on PBA. Wells Fargo & Company downgraded Pembina Pipeline from a "strong-buy" rating to a "hold" rating in a report on Wednesday, December 18th. Barclays assumed coverage on shares of Pembina Pipeline in a report on Thursday, December 12th. They issued an "overweight" rating on the stock. TD Securities started coverage on Pembina Pipeline in a research note on Wednesday, January 15th. They issued a "buy" rating for the company. Finally, Citigroup raised shares of Pembina Pipeline from a "neutral" rating to a "buy" rating in a report on Monday, March 10th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Pembina Pipeline presently has an average rating of "Moderate Buy" 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.