Geode Capital Management LLC Increases Stake in Pembina Pipeline Co. (NYSE:PBA)

Geode Capital Management LLC increased its stake in Pembina Pipeline Co. (NYSE:PBA - Free Report) TSE: PPL by 30.4% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,539,660 shares of the pipeline company's stock after buying an additional 824,232 shares during the period. Geode Capital Management LLC owned 0.61% of Pembina Pipeline worth $133,449,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Versant Capital Management Inc bought a new stake in shares of Pembina Pipeline during the fourth quarter valued at approximately $27,000. Sound Income Strategies LLC bought a new stake in shares of Pembina Pipeline during the 4th quarter valued at about $27,000. Eastern Bank purchased a new stake in Pembina Pipeline during the fourth quarter valued at approximately $29,000. Principal Securities Inc. raised its holdings in Pembina Pipeline by 2,597.1% in the 4th 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 lifted its position in shares of Pembina Pipeline by 880.0% during the 4th quarter. Venturi Wealth Management LLC now owns 980 shares of the pipeline company's stock valued at $36,000 after buying an additional 880 shares in the last quarter. Institutional investors own 55.37% of the company's stock.

Analyst Ratings Changes

PBA has been the subject of several recent analyst reports. Citigroup raised shares of Pembina Pipeline from a "neutral" rating to a "buy" rating in a report on Monday, March 10th. TD Securities began coverage on Pembina Pipeline in a research report on Wednesday, January 15th. They set a "buy" rating for the company. Finally, Wells Fargo & Company cut Pembina Pipeline from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, December 18th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, Pembina Pipeline presently has a consensus rating of "Moderate Buy" and an average price target of $56.50.

Pembina Pipeline Trading Up 0.6 %

NYSE:PBA traded up $0.21 during midday trading on Monday, hitting $36.55. The stock had a trading volume of 105,028 shares, compared to its average volume of 1,271,188. Pembina Pipeline Co. has a one year low of $33.83 and a one year high of $43.44. The company has a quick ratio of 0.51, a current ratio of 0.65 and a debt-to-equity ratio of 0.79. The stock has a 50-day moving average of $37.77 and a 200 day moving average of $39.01. The company has a market capitalization of $21.22 billion, a price-to-earnings ratio of 15.10 and a beta of 0.89.

Pembina Pipeline Cuts Dividend

The firm also recently disclosed 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 annualized dividend and a yield of 5.23%. The ex-dividend date was Monday, March 17th. Pembina Pipeline's payout ratio is 86.76%.

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.