Duff & Phelps Investment Management Co. lessened its stake in shares of Pembina Pipeline Co. (NYSE:PBA - Free Report) TSE: PPL by 8.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,438,421 shares of the pipeline company's stock after selling 132,475 shares during the quarter. Duff & Phelps Investment Management Co. owned about 0.25% of Pembina Pipeline worth $53,119,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in PBA. Kingsview Wealth Management LLC increased its position in shares of Pembina Pipeline by 4.1% during the 3rd quarter. Kingsview Wealth Management LLC now owns 6,947 shares of the pipeline company's stock valued at $286,000 after purchasing an additional 273 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in Pembina Pipeline by 11.7% during the 4th 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 period. PNC Financial Services Group Inc. boosted its stake in 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 buying an additional 348 shares during the period. MONECO Advisors LLC increased its position in shares of Pembina Pipeline by 9.9% in the fourth quarter. MONECO Advisors LLC now owns 5,954 shares of the pipeline company's stock worth $220,000 after purchasing an additional 537 shares during the last quarter. Finally, Larson Financial Group LLC lifted its position in Pembina Pipeline by 67.6% during the third quarter. Larson Financial Group LLC now owns 1,341 shares of the pipeline company's stock valued at $55,000 after purchasing an additional 541 shares during the last quarter. 55.37% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently weighed in on the stock. Barclays initiated coverage on shares of Pembina Pipeline in a report on Thursday, December 12th. They issued an "overweight" rating for the company. Wells Fargo & Company lowered Pembina Pipeline from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, December 18th. TD Securities started coverage on shares of Pembina Pipeline in a report on Wednesday, January 15th. They set a "buy" rating on the stock. Finally, Citigroup raised shares of 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 given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $56.50.
Read Our Latest Report on Pembina Pipeline
Pembina Pipeline Stock Performance
PBA traded up $0.22 on Tuesday, reaching $40.25. 159,982 shares of the stock were exchanged, compared to its average volume of 1,268,219. The company's 50-day moving average price is $37.65 and its 200 day moving average price is $39.28. The firm has a market capitalization of $23.37 billion, a PE ratio of 16.65 and a beta of 1.26. 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 fifty-two week low of $33.83 and a fifty-two week 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 paid a dividend of $0.4783 per share. This represents a $1.91 annualized dividend and a yield of 4.75%. The ex-dividend date was Monday, March 17th. Pembina Pipeline's dividend payout ratio is presently 86.76%.
About Pembina Pipeline
(
Free Report)
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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