Syon Capital LLC Acquires Shares of 7,696 Pembina Pipeline Co. (NYSE:PBA)

Syon Capital LLC purchased a new position in Pembina Pipeline Co. (NYSE:PBA - Free Report) TSE: PPL during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 7,696 shares of the pipeline company's stock, valued at approximately $284,000.

Other hedge funds also recently modified their holdings of the company. Versant Capital Management Inc purchased a new stake in Pembina Pipeline in the 4th quarter worth about $27,000. Sound Income Strategies LLC bought a new position in shares of Pembina Pipeline in the 4th quarter worth $27,000. Eastern Bank bought a new position in Pembina Pipeline in the fourth quarter valued at $29,000. Principal Securities Inc. increased its position in shares of Pembina Pipeline by 2,597.1% during the 4th quarter. Principal Securities Inc. now owns 917 shares of the pipeline company's stock valued at $34,000 after purchasing an additional 883 shares during the last quarter. Finally, Venturi Wealth Management LLC raised its stake in shares of Pembina Pipeline by 880.0% during the fourth quarter. Venturi Wealth Management LLC now owns 980 shares of the pipeline company's stock worth $36,000 after acquiring an additional 880 shares in the last quarter. Institutional investors own 55.37% of the company's stock.

Pembina Pipeline Trading Down 0.7 %

PBA traded down $0.29 during trading on Tuesday, hitting $38.56. 616,998 shares of the stock traded hands, compared to its average volume of 1,266,438. The firm has a market capitalization of $22.40 billion, a P/E ratio of 15.93 and a beta of 0.89. The firm has a 50-day moving average of $38.07 and a 200 day moving average of $38.68. 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 12-month low of $34.13 and a 12-month high of $43.44.

Pembina Pipeline Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were issued a $0.4783 dividend. The ex-dividend date was Monday, March 17th. This represents a $1.91 annualized dividend and a yield of 4.96%. Pembina Pipeline's dividend payout ratio (DPR) is presently 86.76%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Citigroup raised shares of Pembina Pipeline from a "neutral" rating to a "buy" rating in a research note on Monday, March 10th. TD Securities initiated coverage on shares of Pembina Pipeline in a research report on Wednesday, January 15th. They set a "buy" rating for the company. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $56.00.

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.