JPMorgan Chase & Co. lowered its stake in shares of Pembina Pipeline Co. (NYSE:PBA - Free Report) TSE: PPL by 7.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,742,281 shares of the pipeline company's stock after selling 307,189 shares during the period. JPMorgan Chase & Co. owned 0.64% of Pembina Pipeline worth $138,277,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cerity Partners LLC grew its holdings in shares of Pembina Pipeline by 60.1% during the third quarter. Cerity Partners LLC now owns 32,186 shares of the pipeline company's stock worth $1,327,000 after buying an additional 12,081 shares in the last quarter. FMR LLC grew its stake in Pembina Pipeline by 1,396.8% in the 3rd quarter. FMR LLC now owns 547,448 shares of the pipeline company's stock worth $22,573,000 after acquiring an additional 510,873 shares during the period. Glenmede Trust Co. NA raised its holdings in Pembina Pipeline by 252.6% in the 3rd quarter. Glenmede Trust Co. NA now owns 7,051 shares of the pipeline company's stock valued at $291,000 after acquiring an additional 5,051 shares during the last quarter. Erste Asset Management GmbH purchased a new position in shares of Pembina Pipeline during the 3rd quarter worth $664,000. Finally, HighTower Advisors LLC boosted its holdings in shares of Pembina Pipeline by 11.0% during the third quarter. HighTower Advisors LLC now owns 24,428 shares of the pipeline company's stock worth $1,007,000 after purchasing an additional 2,424 shares during the last quarter. Hedge funds and other institutional investors own 55.37% of the company's stock.
Analyst Upgrades and Downgrades
PBA has been the subject of several analyst reports. Citigroup upgraded Pembina Pipeline from a "neutral" rating to a "buy" rating in a research note on Monday, March 10th. TD Securities initiated coverage on shares of Pembina Pipeline in a report on Wednesday, January 15th. They set a "buy" rating on the stock. Barclays initiated coverage on shares of Pembina Pipeline in a report on Thursday, December 12th. They issued an "overweight" rating for the company. Finally, Wells Fargo & Company downgraded shares of Pembina Pipeline from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, December 18th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $56.50.
Read Our Latest Stock Report on PBA
Pembina Pipeline Trading Down 8.0 %
Shares of NYSE:PBA traded down $3.23 during trading on Friday, reaching $37.17. 2,017,633 shares of the stock were exchanged, compared to its average volume of 1,264,419. Pembina Pipeline Co. has a 12-month low of $33.83 and a 12-month high of $43.44. The firm's 50-day moving average price is $37.84 and its 200 day moving average price is $39.29. 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 market cap of $21.58 billion, a price-to-earnings ratio of 15.36 and a beta of 1.26.
Pembina Pipeline Cuts Dividend
The firm also recently announced 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 of this dividend was Monday, March 17th. This represents a $1.91 annualized dividend and a dividend yield of 5.15%. 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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