AGF Management Ltd. Grows Position in Pembina Pipeline Co. (NYSE:PBA)

AGF Management Ltd. grew its stake in shares of Pembina Pipeline Co. (NYSE:PBA - Free Report) TSE: PPL by 612.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,080,853 shares of the pipeline company's stock after buying an additional 929,206 shares during the period. AGF Management Ltd. owned 0.19% of Pembina Pipeline worth $40,025,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Kingsview Wealth Management LLC increased its position in Pembina Pipeline by 4.1% during the third quarter. Kingsview Wealth Management LLC now owns 6,947 shares of the pipeline company's stock worth $286,000 after buying an additional 273 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its position in shares of Pembina Pipeline by 11.7% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,935 shares of the pipeline company's stock worth $108,000 after acquiring an additional 308 shares during the last quarter. Oppenheimer Asset Management Inc. increased its holdings in Pembina Pipeline by 1.8% in the third quarter. Oppenheimer Asset Management Inc. now owns 18,675 shares of the pipeline company's stock valued at $770,000 after buying an additional 334 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Pembina Pipeline by 1.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 22,903 shares of the pipeline company's stock valued at $846,000 after purchasing an additional 348 shares during the last quarter. Finally, MONECO Advisors LLC boosted its position in shares of Pembina Pipeline by 9.9% during the fourth quarter. MONECO Advisors LLC now owns 5,954 shares of the pipeline company's stock worth $220,000 after buying an additional 537 shares during the period. Hedge funds and other institutional investors own 55.37% of the company's stock.

Pembina Pipeline Stock Performance

PBA opened at $38.52 on Tuesday. The firm has a market capitalization of $22.36 billion, a P/E ratio of 15.92 and a beta of 1.26. The stock's 50 day moving average price is $36.87 and its two-hundred day moving average price is $39.37. The company has a quick ratio of 0.51, a current ratio of 0.65 and a debt-to-equity ratio of 0.79. Pembina Pipeline Co. has a 12-month low of $33.83 and a 12-month high of $43.44.

Pembina Pipeline Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be given a $0.4783 dividend. The ex-dividend date is Monday, March 17th. This represents a $1.91 dividend on an annualized basis and a dividend yield of 4.97%. Pembina Pipeline's dividend payout ratio is currently 86.76%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on PBA shares. Citigroup upgraded Pembina Pipeline from a "neutral" rating to a "buy" rating in a research report on Monday. Wells Fargo & Company downgraded shares of Pembina Pipeline from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, December 18th. TD Securities began coverage on shares of Pembina Pipeline in a research note on Wednesday, January 15th. They set a "buy" rating on the stock. Finally, Barclays began coverage on Pembina Pipeline in a research report on Thursday, December 12th. They issued an "overweight" rating on the stock. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Pembina Pipeline has a consensus rating of "Moderate Buy" and an average price target of $56.50.

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Pembina Pipeline 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.

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