Hillsdale Investment Management Inc. lifted its stake in Pembina Pipeline Co. (NYSE:PBA - Free Report) TSE: PPL by 338.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,289,706 shares of the pipeline company's stock after acquiring an additional 995,735 shares during the quarter. Pembina Pipeline makes up 2.4% of Hillsdale Investment Management Inc.'s portfolio, making the stock its 8th biggest holding. Hillsdale Investment Management Inc. owned 0.22% of Pembina Pipeline worth $47,598,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently bought and sold shares of PBA. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Pembina Pipeline by 0.5% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,249,624 shares of the pipeline company's stock worth $230,610,000 after acquiring an additional 32,519 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Pembina Pipeline by 18.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,049,470 shares of the pipeline company's stock worth $167,000,000 after purchasing an additional 624,958 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Pembina Pipeline by 71.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 3,163,711 shares of the pipeline company's stock valued at $130,501,000 after buying an additional 1,319,709 shares during the period. Cardinal Capital Management Inc. grew its stake in shares of Pembina Pipeline by 1.3% in the 4th quarter. Cardinal Capital Management Inc. now owns 2,920,900 shares of the pipeline company's stock valued at $107,675,000 after purchasing an additional 37,595 shares during the period. Finally, Geode Capital Management LLC raised its stake in Pembina Pipeline by 10.2% during the third quarter. Geode Capital Management LLC now owns 2,715,428 shares of the pipeline company's stock worth $113,531,000 after acquiring an additional 251,982 shares in the last quarter. Institutional investors and hedge funds own 55.37% of the company's stock.
Analyst Ratings Changes
A number of equities research analysts recently commented on the company. Wells Fargo & Company lowered Pembina Pipeline from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, December 18th. Barclays started coverage on shares of Pembina Pipeline in a research note on Thursday, December 12th. They issued an "overweight" rating on the stock. TD Securities began coverage on shares of Pembina Pipeline in a research note on Wednesday, January 15th. They issued a "buy" rating on the stock. Finally, Citigroup raised Pembina Pipeline from a "neutral" rating to a "buy" rating in a research note on Monday, March 10th. Four research 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 an average rating of "Moderate Buy" and an average target price of $56.50.
Read Our Latest Research Report on PBA
Pembina Pipeline Stock Up 0.0 %
Shares of PBA traded up $0.02 during midday trading on Wednesday, hitting $40.09. The stock had a trading volume of 1,252,752 shares, compared to its average volume of 1,116,878. 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 firm has a market cap of $23.27 billion, a price-to-earnings ratio of 16.56 and a beta of 1.26. Pembina Pipeline Co. has a twelve month low of $33.83 and a twelve month high of $43.44. The company has a 50 day simple moving average of $37.43 and a two-hundred day simple moving average of $39.30.
Pembina Pipeline Cuts Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be issued a dividend of $0.4783 per share. This represents a $1.91 annualized dividend and a yield of 4.77%. The ex-dividend date is Monday, March 17th. Pembina Pipeline's payout ratio is 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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