Korea Investment CORP Grows Position in Pembina Pipeline Co. (NYSE:PBA)

Korea Investment CORP lifted its stake in shares of Pembina Pipeline Co. (NYSE:PBA - Free Report) TSE: PPL by 32.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 440,818 shares of the pipeline company's stock after buying an additional 108,529 shares during the quarter. Korea Investment CORP owned about 0.08% of Pembina Pipeline worth $16,279,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its holdings in shares of Pembina Pipeline by 8.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,507,356 shares of the pipeline company's stock worth $62,201,000 after purchasing an additional 121,005 shares during the period. Cerity Partners LLC lifted its holdings in Pembina Pipeline by 60.1% in the third quarter. Cerity Partners LLC now owns 32,186 shares of the pipeline company's stock valued at $1,327,000 after buying an additional 12,081 shares during the period. Kingsview Wealth Management LLC boosted its position in Pembina Pipeline by 4.1% during the third quarter. Kingsview Wealth Management LLC now owns 6,947 shares of the pipeline company's stock valued at $286,000 after acquiring an additional 273 shares during the last quarter. Larson Financial Group LLC grew its holdings in Pembina Pipeline by 67.6% during the 3rd quarter. Larson Financial Group LLC now owns 1,341 shares of the pipeline company's stock worth $55,000 after acquiring an additional 541 shares during the period. Finally, FMR LLC raised its position in shares of 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 in the last quarter. Institutional investors own 55.37% of the company's stock.

Remove Ads

Pembina Pipeline Stock Down 0.6 %

NYSE PBA traded down $0.26 during mid-day trading on Thursday, hitting $40.62. The company's stock had a trading volume of 225,216 shares, compared to its average volume of 1,430,079. The company has a current ratio of 0.65, a quick ratio of 0.51 and a debt-to-equity ratio of 0.79. The company's 50 day simple moving average is $37.77 and its 200 day simple moving average is $39.28. Pembina Pipeline Co. has a twelve month low of $33.83 and a twelve month high of $43.44. The firm has a market capitalization of $23.58 billion, a price-to-earnings ratio of 16.79 and a beta of 1.26.

Pembina Pipeline Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were paid a dividend of $0.4783 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $1.91 dividend on an annualized basis and a yield of 4.71%. Pembina Pipeline's dividend payout ratio (DPR) is currently 86.76%.

Wall Street Analysts Forecast Growth

PBA has been the subject of several recent analyst reports. Citigroup raised Pembina Pipeline from a "neutral" rating to a "buy" rating in a research note on Monday, March 10th. TD Securities began coverage on shares of Pembina Pipeline in a research note on Wednesday, January 15th. They issued a "buy" rating for the company. Wells Fargo & Company downgraded shares of Pembina Pipeline from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, December 18th. Finally, Barclays assumed coverage on shares of Pembina Pipeline in a report on Thursday, December 12th. They issued an "overweight" rating for the company. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $56.50.

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.