Mufg Securities Canada LTD. cut its stake in shares of Pembina Pipeline Co. (NYSE:PBA - Free Report) TSE: PPL by 43.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 886,490 shares of the pipeline company's stock after selling 678,355 shares during the quarter. Pembina Pipeline makes up approximately 1.2% of Mufg Securities Canada LTD.'s holdings, making the stock its 25th biggest position. Mufg Securities Canada LTD. owned about 0.15% of Pembina Pipeline worth $32,732,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. PDT Partners LLC bought a new position in shares of Pembina Pipeline in the third quarter worth approximately $1,329,000. Van ECK Associates Corp increased its stake in Pembina Pipeline by 8.0% in the 4th quarter. Van ECK Associates Corp now owns 225,684 shares of the pipeline company's stock worth $8,335,000 after buying an additional 16,762 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Pembina Pipeline by 18.2% during the third quarter. JPMorgan Chase & Co. now owns 4,049,470 shares of the pipeline company's stock valued at $167,000,000 after acquiring an additional 624,958 shares during the period. PNC Financial Services Group Inc. lifted its position in shares of Pembina Pipeline by 1.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 22,903 shares of the pipeline company's stock valued at $846,000 after acquiring an additional 348 shares in the last quarter. Finally, Jennison Associates LLC boosted its stake in shares of Pembina Pipeline by 32.3% in the fourth quarter. Jennison Associates LLC now owns 616,992 shares of the pipeline company's stock worth $22,786,000 after acquiring an additional 150,689 shares during the period. 55.37% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
PBA has been the topic of several recent analyst reports. Barclays began coverage on Pembina Pipeline in a research note on Thursday, December 12th. They set an "overweight" rating on the stock. Wells Fargo & Company cut shares of Pembina Pipeline from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, December 18th. TD Securities initiated coverage on shares of Pembina Pipeline in a research report on Wednesday, January 15th. They set a "buy" rating for the company. Finally, Citigroup raised 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 presently has an average rating of "Moderate Buy" and an average target price of $56.50.
Get Our Latest Report on PBA
Pembina Pipeline Price Performance
Shares of PBA stock traded up $0.04 on Friday, reaching $39.91. The company's stock had a trading volume of 649,829 shares, compared to its average volume of 1,274,364. The stock's fifty day simple moving average is $37.59 and its 200-day simple moving average is $39.29. Pembina Pipeline Co. has a 1 year low of $33.83 and a 1 year high of $43.44. The company has a market capitalization of $23.17 billion, a price-to-earnings ratio of 16.49 and a beta of 1.26. The company has a current ratio of 0.65, a quick ratio of 0.51 and a debt-to-equity ratio of 0.79.
Pembina Pipeline Cuts Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be given a dividend of $0.4783 per share. This represents a $1.91 annualized dividend and a dividend yield of 4.79%. The ex-dividend date is Monday, March 17th. Pembina Pipeline's dividend 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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