Pembina Pipeline Co. (NYSE:PBA) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its stake in shares of Pembina Pipeline Co. (NYSE:PBA - Free Report) TSE: PPL by 8.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 496,084 shares of the pipeline company's stock after acquiring an additional 38,140 shares during the period. Bank of New York Mellon Corp owned about 0.09% of Pembina Pipeline worth $18,330,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Kingsview Wealth Management LLC grew its holdings in Pembina Pipeline by 4.1% during the 3rd quarter. Kingsview Wealth Management LLC now owns 6,947 shares of the pipeline company's stock worth $286,000 after acquiring an additional 273 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in shares of Pembina Pipeline by 11.7% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,935 shares of the pipeline company's stock worth $108,000 after buying an additional 308 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its position 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 worth $770,000 after buying an additional 334 shares during the last quarter. MONECO Advisors LLC lifted its position in shares of Pembina Pipeline by 9.9% in the 4th quarter. MONECO Advisors LLC now owns 5,954 shares of the pipeline company's stock worth $220,000 after buying an additional 537 shares during the last quarter. Finally, Larson Financial Group LLC lifted its position in shares of Pembina Pipeline by 67.6% in the 3rd quarter. Larson Financial Group LLC now owns 1,341 shares of the pipeline company's stock worth $55,000 after buying an additional 541 shares during the last quarter. 55.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on PBA. 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. Barclays began coverage on shares of Pembina Pipeline in a research report on Thursday, December 12th. They issued an "overweight" rating on the stock. Citigroup upgraded shares of Pembina Pipeline from a "neutral" rating to a "buy" rating in a research report on Monday. Finally, TD Securities initiated coverage on shares of Pembina Pipeline in a research report on Wednesday, January 15th. They issued a "buy" rating on the stock. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $56.50.

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Pembina Pipeline Trading Down 0.5 %

Shares of NYSE:PBA opened at $38.35 on Wednesday. The company has a market cap of $22.26 billion, a PE ratio of 15.85 and a beta of 1.26. The company's 50-day moving average price is $36.90 and its 200 day moving average price is $39.36. Pembina Pipeline Co. has a fifty-two week low of $33.83 and a fifty-two week high of $43.44. The company has a quick ratio of 0.51, a current ratio of 0.65 and a debt-to-equity ratio of 0.79.

Pembina Pipeline Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be given a $0.4783 dividend. The ex-dividend date is Monday, March 17th. This represents a $1.91 annualized dividend and a yield of 4.99%. Pembina Pipeline's dividend payout ratio 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.

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