Hsbc Holdings PLC Buys 29,427 Shares of Pembina Pipeline Co. (NYSE:PBA)

Hsbc Holdings PLC lifted its position in Pembina Pipeline Co. (NYSE:PBA - Free Report) TSE: PPL by 2.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,141,770 shares of the pipeline company's stock after buying an additional 29,427 shares during the period. Hsbc Holdings PLC owned about 0.20% of Pembina Pipeline worth $42,147,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Versant Capital Management Inc acquired a new position in shares of Pembina Pipeline during the fourth quarter worth about $27,000. Sound Income Strategies LLC acquired a new position in shares of Pembina Pipeline during the 4th quarter worth about $27,000. Eastern Bank acquired a new stake in shares of Pembina Pipeline in the fourth quarter valued at about $29,000. Principal Securities Inc. raised its holdings in 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 acquiring an additional 883 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its stake in Pembina Pipeline by 880.0% in the fourth quarter. Venturi Wealth Management LLC now owns 980 shares of the pipeline company's stock valued at $36,000 after purchasing an additional 880 shares in the last quarter. 55.37% of the stock is currently owned by institutional investors and hedge funds.

Pembina Pipeline Stock Performance

Shares of PBA stock traded down $0.29 during midday trading on Tuesday, hitting $38.56. 616,998 shares of the company were exchanged, compared to its average volume of 1,266,438. The firm has a market capitalization of $22.40 billion, a P/E ratio of 15.93 and a beta of 0.89. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.51 and a current ratio of 0.65. Pembina Pipeline Co. has a 52 week low of $34.13 and a 52 week high of $43.44. The firm's 50 day moving average price is $38.07 and its two-hundred day moving average price is $38.68.

Pembina Pipeline Cuts Dividend

The company also recently declared 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. The ex-dividend date was Monday, March 17th. This represents a $1.91 annualized dividend and a yield of 4.96%. Pembina Pipeline's payout ratio is currently 86.76%.

Analysts Set New Price Targets

PBA has been the subject of several recent analyst reports. 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 upgraded shares of Pembina Pipeline from a "neutral" rating to a "buy" rating in a research note on Monday, March 10th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Pembina Pipeline currently has an average rating of "Moderate Buy" and an average price target of $56.00.

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.