Pembina Pipeline Co. (NYSE:PBA) Shares Sold by Intact Investment Management Inc.

Intact Investment Management Inc. reduced its position in Pembina Pipeline Co. (NYSE:PBA - Free Report) TSE: PPL by 12.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,721,374 shares of the pipeline company's stock after selling 255,560 shares during the period. Pembina Pipeline makes up approximately 2.2% of Intact Investment Management Inc.'s holdings, making the stock its 8th largest holding. Intact Investment Management Inc. owned approximately 0.30% of Pembina Pipeline worth $63,591,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of PBA. Entropy Technologies LP acquired a new position in shares of Pembina Pipeline in the 3rd quarter valued at about $961,000. Oppenheimer Asset Management Inc. lifted its stake in shares of Pembina Pipeline by 1.8% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 18,675 shares of the pipeline company's stock valued at $770,000 after purchasing an additional 334 shares in the last quarter. Oppenheimer & Co. Inc. acquired a new position in shares of Pembina Pipeline in the 3rd quarter valued at about $284,000. Metis Global Partners LLC lifted its stake in shares of Pembina Pipeline by 12.9% in the 3rd quarter. Metis Global Partners LLC now owns 54,841 shares of the pipeline company's stock valued at $2,261,000 after purchasing an additional 6,274 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its stake in shares of Pembina Pipeline by 8.1% in the 3rd quarter. CIBC Asset Management Inc now owns 6,405,991 shares of the pipeline company's stock valued at $264,315,000 after purchasing an additional 481,285 shares in the last quarter. 55.37% of the stock is owned by institutional investors and hedge funds.

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Pembina Pipeline Stock Down 0.1 %

PBA stock traded down $0.04 during midday trading on Tuesday, hitting $39.00. 1,108,303 shares of the company's stock were exchanged, compared to its average volume of 1,106,566. 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 Co. has a 12-month low of $33.83 and a 12-month high of $43.44. The firm has a 50 day moving average price of $37.05 and a 200-day moving average price of $39.32. The stock has a market capitalization of $22.64 billion, a price-to-earnings ratio of 16.11 and a beta of 1.26.

Pembina Pipeline Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be issued a dividend of $0.4783 per share. The ex-dividend date is Monday, March 17th. This represents a $1.91 annualized dividend and a yield of 4.91%. Pembina Pipeline's dividend payout ratio is presently 86.76%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. TD Securities assumed coverage on Pembina Pipeline in a report on Wednesday, January 15th. They set a "buy" rating on the stock. Citigroup upgraded Pembina Pipeline from a "neutral" rating to a "buy" rating in a report on Monday, March 10th. Wells Fargo & Company downgraded Pembina Pipeline from a "strong-buy" rating to a "hold" rating in a report on Wednesday, December 18th. Finally, Barclays assumed coverage on Pembina Pipeline in a report on Thursday, December 12th. They set an "overweight" rating on the stock. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus 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.