Bank of Nova Scotia Trust Co. Raises Holdings in Pembina Pipeline Co. (NYSE:PBA)

Bank of Nova Scotia Trust Co. boosted its position in Pembina Pipeline Co. (NYSE:PBA - Free Report) TSE: PPL by 20.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 337,379 shares of the pipeline company's stock after purchasing an additional 58,366 shares during the period. Pembina Pipeline accounts for about 1.3% of Bank of Nova Scotia Trust Co.'s portfolio, making the stock its 26th biggest holding. Bank of Nova Scotia Trust Co. owned about 0.06% of Pembina Pipeline worth $12,466,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Norges Bank bought a new stake in Pembina Pipeline during the fourth quarter worth $171,860,000. Arrowstreet Capital Limited Partnership bought a new position in Pembina Pipeline during the fourth quarter valued at approximately $73,073,000. Hillsdale Investment Management Inc. lifted its stake in shares of Pembina Pipeline by 338.7% in the 4th quarter. Hillsdale Investment Management Inc. now owns 1,289,706 shares of the pipeline company's stock valued at $47,598,000 after acquiring an additional 995,735 shares during the last quarter. AGF Management Ltd. boosted its position in Pembina Pipeline by 612.7% during the 4th quarter. AGF Management Ltd. now owns 1,080,853 shares of the pipeline company's stock valued at $40,025,000 after buying an additional 929,206 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of Pembina Pipeline by 30.4% during the fourth quarter. Geode Capital Management LLC now owns 3,539,660 shares of the pipeline company's stock valued at $133,449,000 after acquiring an additional 824,232 shares in the last quarter. 55.37% of the stock is currently owned by institutional investors.

Pembina Pipeline Price Performance

Shares of NYSE PBA traded down $0.18 during midday trading on Wednesday, hitting $38.10. The stock had a trading volume of 714,115 shares, compared to its average volume of 1,268,351. The stock has a 50 day simple moving average of $37.89 and a 200-day simple moving average of $38.82. The company has a market capitalization of $22.12 billion, a PE ratio of 15.74 and a beta of 0.89. 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 1 year low of $34.13 and a 1 year high of $43.44.

Pembina Pipeline Cuts Dividend

The company also recently announced 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 5.02%. The ex-dividend date was Monday, March 17th. Pembina Pipeline's dividend payout ratio (DPR) is 86.76%.

Analyst Ratings Changes

Several equities research analysts have commented on the company. TD Securities assumed coverage on Pembina Pipeline in a report on Wednesday, January 15th. They issued a "buy" rating on the stock. Citigroup raised Pembina Pipeline from a "neutral" rating to a "buy" rating in a report on Monday, March 10th. 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 data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $56.00.

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.