Bank of Nova Scotia Decreases Stock Position in Pembina Pipeline Co. (NYSE:PBA)

Bank of Nova Scotia trimmed its stake in Pembina Pipeline Co. (NYSE:PBA - Free Report) TSE: PPL by 14.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,106,517 shares of the pipeline company's stock after selling 1,152,763 shares during the period. Bank of Nova Scotia owned 1.22% of Pembina Pipeline worth $262,534,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of PBA. MassMutual Private Wealth & Trust FSB lifted its stake in Pembina Pipeline by 11.7% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,935 shares of the pipeline company's stock valued at $108,000 after acquiring an additional 308 shares during the period. Headlands Technologies LLC raised its holdings in Pembina Pipeline by 23.2% in the 4th quarter. Headlands Technologies LLC now owns 1,769 shares of the pipeline company's stock worth $65,000 after purchasing an additional 333 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of Pembina Pipeline by 1.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 22,903 shares of the pipeline company's stock worth $846,000 after buying an additional 348 shares during the period. MONECO Advisors LLC lifted its holdings in Pembina Pipeline by 9.9% during the fourth quarter. MONECO Advisors LLC now owns 5,954 shares of the pipeline company's stock valued at $220,000 after purchasing an additional 537 shares in the last quarter. Finally, JCIC Asset Management Inc. lifted its stake in shares of Pembina Pipeline by 16.1% during the 4th quarter. JCIC Asset Management Inc. now owns 4,808 shares of the pipeline company's stock valued at $178,000 after buying an additional 668 shares in the last quarter. Institutional investors own 55.37% of the company's stock.

Pembina Pipeline Price Performance

Pembina Pipeline stock traded up $1.18 during mid-day trading on Friday, reaching $36.34. 1,067,576 shares of the company's stock traded hands, compared to its average volume of 1,275,696. Pembina Pipeline Co. has a 12-month low of $33.83 and a 12-month 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. The stock has a 50 day moving average of $37.77 and a two-hundred day moving average of $39.01. The company has a market cap of $21.10 billion, a price-to-earnings ratio of 15.01 and a beta of 0.89.

Pembina Pipeline Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were issued a $0.4783 dividend. This represents a $1.91 dividend on an annualized basis and a dividend yield of 5.26%. The ex-dividend date of this dividend was Monday, March 17th. Pembina Pipeline's payout ratio is 86.76%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PBA. Wells Fargo & Company downgraded Pembina Pipeline from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, December 18th. Citigroup raised shares of Pembina Pipeline from a "neutral" rating to a "buy" rating in a report on Monday, March 10th. Finally, TD Securities started coverage on Pembina Pipeline in a research report on Wednesday, January 15th. They set a "buy" rating for the company. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $56.50.

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.