Federated Hermes Inc. Has $9.24 Million Stock Position in Pembina Pipeline Co. (NYSE:PBA)

Federated Hermes Inc. decreased its stake in Pembina Pipeline Co. (NYSE:PBA - Free Report) TSE: PPL by 6.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 250,092 shares of the pipeline company's stock after selling 17,089 shares during the period. Federated Hermes Inc.'s holdings in Pembina Pipeline were worth $9,241,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in PBA. Versant Capital Management Inc bought a new position in Pembina Pipeline in the 4th quarter valued at approximately $27,000. Sound Income Strategies LLC acquired a new position in Pembina Pipeline in the 4th quarter valued at approximately $27,000. Eastern Bank bought a new position in shares of Pembina Pipeline during the fourth quarter valued at $29,000. Principal Securities Inc. lifted its holdings in shares of Pembina Pipeline by 2,597.1% during the fourth quarter. Principal Securities Inc. now owns 917 shares of the pipeline company's stock worth $34,000 after purchasing an additional 883 shares during the period. Finally, Venturi Wealth Management LLC grew its stake in shares of Pembina Pipeline by 880.0% in the fourth quarter. Venturi Wealth Management LLC now owns 980 shares of the pipeline company's stock worth $36,000 after purchasing an additional 880 shares during the last quarter. Institutional investors and hedge funds own 55.37% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PBA. TD Securities started coverage on Pembina Pipeline in a report on Wednesday, January 15th. They set a "buy" rating on the stock. Citigroup upgraded Pembina Pipeline from a "neutral" rating to a "buy" rating in a research report on Monday, March 10th. Finally, Wells Fargo & Company cut Pembina Pipeline from a "strong-buy" rating to a "hold" rating in a report on Wednesday, December 18th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $56.50.

Pembina Pipeline Trading Up 1.1 %

Shares of NYSE:PBA traded up $0.41 during midday trading on Wednesday, reaching $37.44. The company's stock had a trading volume of 155,701 shares, compared to its average volume of 1,451,670. Pembina Pipeline Co. has a fifty-two week low of $33.83 and a fifty-two 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 firm has a 50 day moving average price of $37.78 and a two-hundred day moving average price of $38.96. The firm has a market capitalization of $21.74 billion, a price-to-earnings ratio of 15.48 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. 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 dividend yield of 5.11%. The ex-dividend date of this dividend was Monday, March 17th. Pembina Pipeline's payout ratio is 86.76%.

About Pembina Pipeline

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.