Pembina Pipeline Co. (NYSE:PBA) Shares Purchased by Tortoise Capital Advisors L.L.C.

Tortoise Capital Advisors L.L.C. lifted its position in Pembina Pipeline Co. (NYSE:PBA - Free Report) TSE: PPL by 1.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,240,053 shares of the pipeline company's stock after acquiring an additional 80,062 shares during the period. Pembina Pipeline accounts for approximately 2.0% of Tortoise Capital Advisors L.L.C.'s investment portfolio, making the stock its 15th biggest holding. Tortoise Capital Advisors L.L.C. owned about 0.73% of Pembina Pipeline worth $156,632,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PBA. Versant Capital Management Inc purchased a new stake in Pembina Pipeline during the fourth quarter worth $27,000. Sound Income Strategies LLC purchased a new stake in shares of Pembina Pipeline during the 4th quarter worth about $27,000. Eastern Bank acquired a new stake in shares of Pembina Pipeline during the 4th quarter valued at about $29,000. Principal Securities Inc. raised its holdings in Pembina Pipeline by 2,597.1% in the 4th quarter. Principal Securities Inc. now owns 917 shares of the pipeline company's stock worth $34,000 after purchasing an additional 883 shares during the period. Finally, Venturi Wealth Management LLC boosted its position in Pembina Pipeline by 880.0% during the fourth quarter. Venturi Wealth Management LLC now owns 980 shares of the pipeline company's stock worth $36,000 after purchasing an additional 880 shares in the last quarter. Hedge funds and other institutional investors own 55.37% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on PBA shares. Citigroup raised shares of Pembina Pipeline from a "neutral" rating to a "buy" rating in a report on Monday, March 10th. TD Securities started coverage on Pembina Pipeline in a report on Wednesday, January 15th. They issued a "buy" 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. According to MarketBeat.com, Pembina Pipeline currently has a consensus rating of "Moderate Buy" and a consensus price target of $56.00.

Pembina Pipeline Trading Down 0.5 %

NYSE PBA traded down $0.18 on Wednesday, reaching $38.10. 714,115 shares of the company were exchanged, compared to its average volume of 1,271,097. Pembina Pipeline Co. has a fifty-two week low of $34.13 and a fifty-two week high of $43.44. The stock has a market capitalization of $22.12 billion, a P/E ratio of 15.74 and a beta of 0.89. The business's fifty day moving average price is $37.89 and its 200 day moving average price is $38.82. 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 company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were given a dividend of $0.4783 per share. This represents a $1.91 annualized dividend and a yield of 5.02%. The ex-dividend date of this dividend was Monday, March 17th. Pembina Pipeline's payout ratio is currently 86.76%.

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.