Envestnet Asset Management Inc. Has $11.41 Million Stake in Pembina Pipeline Co. (NYSE:PBA)

Envestnet Asset Management Inc. grew its stake in Pembina Pipeline Co. (NYSE:PBA - Free Report) TSE: PPL by 5.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 308,872 shares of the pipeline company's stock after purchasing an additional 15,002 shares during the quarter. Envestnet Asset Management Inc. owned about 0.05% of Pembina Pipeline worth $11,413,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. MassMutual Private Wealth & Trust FSB increased its holdings in Pembina Pipeline by 11.7% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,935 shares of the pipeline company's stock valued at $108,000 after purchasing an additional 308 shares during the last quarter. Headlands Technologies LLC increased its stake in shares of Pembina Pipeline by 23.2% in the 4th quarter. Headlands Technologies LLC now owns 1,769 shares of the pipeline company's stock valued at $65,000 after acquiring an additional 333 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of Pembina Pipeline by 1.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 22,903 shares of the pipeline company's stock valued at $846,000 after acquiring an additional 348 shares during the period. MONECO Advisors LLC raised its position in shares of Pembina Pipeline by 9.9% in the 4th quarter. MONECO Advisors LLC now owns 5,954 shares of the pipeline company's stock valued at $220,000 after acquiring an additional 537 shares during the period. Finally, JCIC Asset Management Inc. boosted its stake in Pembina Pipeline by 16.1% during the 4th quarter. JCIC Asset Management Inc. now owns 4,808 shares of the pipeline company's stock worth $178,000 after acquiring an additional 668 shares during the last quarter. 55.37% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on PBA shares. TD Securities initiated coverage on shares of Pembina Pipeline in a research note on Wednesday, January 15th. They issued a "buy" rating for the company. Citigroup raised Pembina Pipeline from a "neutral" rating to a "buy" rating in a research note on Monday, March 10th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $56.00.

Pembina Pipeline Stock Down 0.7 %

Shares of Pembina Pipeline stock traded down $0.27 on Wednesday, hitting $38.01. The company had a trading volume of 172,685 shares, compared to its average volume of 1,413,367. Pembina Pipeline Co. has a twelve month low of $34.13 and a twelve month high of $43.44. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.65 and a quick ratio of 0.51. The stock has a 50-day moving average of $37.89 and a 200-day moving average of $38.82. The firm has a market capitalization of $22.07 billion, a P/E ratio of 15.71 and a beta of 0.89.

Pembina Pipeline Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders 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 5.03%. The ex-dividend date of this dividend was Monday, March 17th. Pembina Pipeline's dividend payout ratio (DPR) is presently 86.76%.

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.