Short Interest in Pembina Pipeline Co. (NYSE:PBA) Expands By 86.9%

Pembina Pipeline Co. (NYSE:PBA - Get Free Report) TSE: PPL was the recipient of a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 22,840,000 shares, an increase of 86.9% from the February 28th total of 12,220,000 shares. Based on an average daily volume of 1,550,000 shares, the days-to-cover ratio is currently 14.7 days. Currently, 3.9% of the shares of the company are short sold.

Wall Street Analyst Weigh In

A number of research firms have commented on PBA. Barclays assumed coverage on shares of Pembina Pipeline in a research note on Thursday, December 12th. They issued an "overweight" rating on the stock. TD Securities initiated coverage on Pembina Pipeline in a research note on Wednesday, January 15th. They set a "buy" rating for the company. Citigroup raised Pembina Pipeline from a "neutral" rating to a "buy" rating in a research report on Monday, March 10th. Finally, Wells Fargo & Company cut Pembina Pipeline from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, December 18th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $56.50.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Safe Harbor Fiduciary LLC acquired a new position in Pembina Pipeline in the third quarter valued at $26,000. Versant Capital Management Inc purchased a new stake in Pembina Pipeline in the 4th quarter valued at about $27,000. Sound Income Strategies LLC acquired a new position in shares of Pembina Pipeline during the 4th quarter valued at about $27,000. Dunhill Financial LLC purchased a new position in shares of Pembina Pipeline during the 3rd quarter worth about $28,000. Finally, Eastern Bank acquired a new stake in shares of Pembina Pipeline in the fourth quarter worth approximately $29,000. Hedge funds and other institutional investors own 55.37% of the company's stock.

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Pembina Pipeline Trading Up 0.9 %

Shares of NYSE PBA traded up $0.35 during midday trading on Wednesday, reaching $40.85. 545,419 shares of the stock were exchanged, compared to its average volume of 1,260,972. The stock has a 50 day moving average price of $37.77 and a 200-day moving average price of $39.28. 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 has a market capitalization of $23.72 billion, a P/E ratio of 16.88 and a beta of 1.26. Pembina Pipeline has a 52-week low of $33.83 and a 52-week high of $43.44.

Pembina Pipeline Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were issued a $0.4783 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $1.91 annualized dividend and a yield of 4.68%. Pembina Pipeline's dividend payout ratio (DPR) is presently 86.76%.

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.