Pembina Pipeline Co. (NYSE:PBA) Shares Sold by Bank of Montreal Can

Bank of Montreal Can lessened its holdings in shares of Pembina Pipeline Co. (NYSE:PBA - Free Report) TSE: PPL by 8.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 24,429,665 shares of the pipeline company's stock after selling 2,378,887 shares during the quarter. Bank of Montreal Can owned approximately 4.21% of Pembina Pipeline worth $901,451,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. raised its holdings in Pembina Pipeline by 3.2% in the 4th quarter. Vanguard Group Inc. now owns 24,887,077 shares of the pipeline company's stock valued at $919,503,000 after acquiring an additional 770,729 shares during the last quarter. TD Asset Management Inc. lifted its position in Pembina Pipeline by 5.4% during the fourth quarter. TD Asset Management Inc. now owns 6,789,722 shares of the pipeline company's stock worth $250,732,000 after buying an additional 347,872 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Pembina Pipeline by 0.5% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,249,624 shares of the pipeline company's stock worth $230,610,000 after buying an additional 32,519 shares during the last quarter. Norges Bank purchased a new stake in Pembina Pipeline in the 4th quarter valued at $171,860,000. Finally, JPMorgan Chase & Co. increased its stake in shares of Pembina Pipeline by 18.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,049,470 shares of the pipeline company's stock worth $167,000,000 after acquiring an additional 624,958 shares during the last quarter. 55.37% of the stock is currently owned by institutional investors and hedge funds.

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Pembina Pipeline Trading Up 3.3 %

Shares of PBA traded up $1.18 during midday trading on Friday, hitting $36.34. 1,067,576 shares of the stock were exchanged, compared to its average volume of 1,275,155. Pembina Pipeline Co. has a 52-week low of $33.83 and a 52-week high of $43.44. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.51 and a current ratio of 0.65. The stock has a fifty day simple moving average of $37.77 and a 200 day simple moving average of $39.02. The firm has a market cap of $21.10 billion, a P/E ratio of 15.01 and a beta of 0.89.

Pembina Pipeline Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were given a dividend of $0.4783 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $1.91 annualized dividend and a dividend yield of 5.26%. Pembina Pipeline's dividend payout ratio is presently 86.76%.

Analyst Ratings Changes

PBA has been the topic of several recent research reports. Citigroup raised shares of Pembina Pipeline from a "neutral" rating to a "buy" rating in a research report on Monday, March 10th. TD Securities started coverage on Pembina Pipeline in a research report on Wednesday, January 15th. They issued a "buy" rating on the stock. Finally, Wells Fargo & Company cut Pembina Pipeline from a "strong-buy" rating to a "hold" rating in a report on Wednesday, December 18th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average 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.