Addenda Capital Inc. Trims Holdings in Pembina Pipeline Co. (NYSE:PBA)

Addenda Capital Inc. trimmed its stake in Pembina Pipeline Co. (NYSE:PBA - Free Report) TSE: PPL by 2.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 604,419 shares of the pipeline company's stock after selling 17,458 shares during the quarter. Pembina Pipeline accounts for 1.0% of Addenda Capital Inc.'s portfolio, making the stock its 29th biggest holding. Addenda Capital Inc. owned about 0.10% of Pembina Pipeline worth $22,333,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of PBA. Toronto Dominion Bank raised its holdings in Pembina Pipeline by 97.2% in the 2nd quarter. Toronto Dominion Bank now owns 8,938,488 shares of the pipeline company's stock worth $331,439,000 after acquiring an additional 4,405,792 shares during the last quarter. CIBC Asset Management Inc raised its stake in shares of Pembina Pipeline by 8.1% in the third quarter. CIBC Asset Management Inc now owns 6,405,991 shares of the pipeline company's stock worth $264,315,000 after purchasing an additional 481,285 shares during the last quarter. Kayne Anderson Capital Advisors LP lifted its holdings in shares of Pembina Pipeline by 15.3% during the third quarter. Kayne Anderson Capital Advisors LP now owns 4,155,198 shares of the pipeline company's stock valued at $171,360,000 after purchasing an additional 550,491 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Pembina Pipeline by 18.2% during the third quarter. JPMorgan Chase & Co. now owns 4,049,470 shares of the pipeline company's stock valued at $167,000,000 after buying an additional 624,958 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in Pembina Pipeline by 71.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 3,163,711 shares of the pipeline company's stock worth $130,501,000 after buying an additional 1,319,709 shares in the last quarter. 55.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PBA has been the topic of several research reports. Raymond James initiated coverage on shares of Pembina Pipeline in a report on Friday, October 11th. They issued an "outperform" rating on the stock. TD Securities began coverage on Pembina Pipeline in a research note on Wednesday, January 15th. They issued a "buy" rating on the stock. Wells Fargo & Company cut Pembina Pipeline from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, December 18th. Finally, Barclays initiated coverage on Pembina Pipeline in a report on Thursday, December 12th. They issued an "overweight" rating on the stock. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $56.50.

Pembina Pipeline Price Performance

PBA traded up $0.20 during trading hours on Tuesday, hitting $37.68. The company's stock had a trading volume of 1,134,821 shares, compared to its average volume of 1,184,285. The stock has a market cap of $21.87 billion, a price-to-earnings ratio of 15.57 and a beta of 1.25. The business's 50-day moving average price is $38.73 and its 200-day moving average price is $39.68. 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 $32.81 and a 12 month high of $43.44.

Pembina Pipeline Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were issued a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 7.33%. This is an increase from Pembina Pipeline's previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Monday, December 16th. Pembina Pipeline's dividend payout ratio is presently 80.58%.

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.