Van ECK Associates Corp Buys 16,762 Shares of Pembina Pipeline Co. (NYSE:PBA)

Van ECK Associates Corp boosted its stake in Pembina Pipeline Co. (NYSE:PBA - Free Report) TSE: PPL by 8.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 225,684 shares of the pipeline company's stock after buying an additional 16,762 shares during the period. Van ECK Associates Corp's holdings in Pembina Pipeline were worth $8,335,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Miller Howard Investments Inc. NY grew its stake in Pembina Pipeline by 25.5% in the 4th quarter. Miller Howard Investments Inc. NY now owns 552,076 shares of the pipeline company's stock valued at $20,399,000 after buying an additional 112,298 shares during the last quarter. Empowered Funds LLC grew its stake in Pembina Pipeline by 39.3% in the 4th quarter. Empowered Funds LLC now owns 17,186 shares of the pipeline company's stock valued at $635,000 after buying an additional 4,852 shares during the last quarter. Cidel Asset Management Inc. boosted its holdings in Pembina Pipeline by 0.9% in the 4th quarter. Cidel Asset Management Inc. now owns 253,715 shares of the pipeline company's stock valued at $9,369,000 after purchasing an additional 2,197 shares during the period. RNC Capital Management LLC boosted its holdings in Pembina Pipeline by 7.6% in the 4th quarter. RNC Capital Management LLC now owns 23,406 shares of the pipeline company's stock valued at $865,000 after purchasing an additional 1,648 shares during the period. Finally, Tectonic Advisors LLC boosted its holdings in Pembina Pipeline by 83.4% in the 4th quarter. Tectonic Advisors LLC now owns 13,388 shares of the pipeline company's stock valued at $495,000 after purchasing an additional 6,090 shares during the period. Institutional investors and hedge funds own 55.37% of the company's stock.

Pembina Pipeline Price Performance

Shares of Pembina Pipeline stock traded down $0.01 on Thursday, reaching $36.41. 2,327,608 shares of the stock were exchanged, compared to its average volume of 1,500,077. The firm's 50 day moving average is $36.77 and its 200-day moving average is $39.46. Pembina Pipeline Co. has a one year low of $33.60 and a one year high of $43.44. 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 $21.14 billion, a PE ratio of 15.04 and a beta of 1.25.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. TD Securities assumed coverage on shares of Pembina Pipeline in a report 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 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. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $56.50.

Pembina Pipeline Company 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.