Pembina Pipeline Co. (NYSE:PBA) Sees Significant Growth in Short Interest

Pembina Pipeline Co. (NYSE:PBA - Get Free Report) TSE: PPL was the target of a large growth in short interest during the month of February. As of February 28th, there was short interest totalling 12,220,000 shares, a growth of 94.9% from the February 13th total of 6,270,000 shares. Approximately 2.1% of the company's stock are sold short. Based on an average daily trading volume, of 1,570,000 shares, the days-to-cover ratio is presently 7.8 days.

Pembina Pipeline Trading Down 0.1 %

Shares of PBA traded down $0.04 during mid-day trading on Tuesday, hitting $39.00. The company had a trading volume of 1,108,303 shares, compared to its average volume of 1,106,566. The business's 50-day simple moving average is $37.05 and its 200-day simple moving average is $39.32. 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 has a 1-year low of $33.83 and a 1-year high of $43.44. The stock has a market cap of $22.64 billion, a PE ratio of 16.11 and a beta of 1.26.

Pembina Pipeline Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be paid a $0.4783 dividend. The ex-dividend date is Monday, March 17th. This represents a $1.91 dividend on an annualized basis and a dividend yield of 4.91%. Pembina Pipeline's dividend payout ratio (DPR) is presently 86.76%.

Analyst Upgrades and Downgrades

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

Remove Ads

Hedge Funds Weigh In On Pembina Pipeline

A number of hedge funds have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Pembina Pipeline by 10.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 16,358 shares of the pipeline company's stock valued at $604,000 after acquiring an additional 1,601 shares during the period. Mackenzie Financial Corp lifted its holdings in Pembina Pipeline by 10.6% in the fourth quarter. Mackenzie Financial Corp now owns 13,930,847 shares of the pipeline company's stock worth $514,154,000 after purchasing an additional 1,331,294 shares during the period. Public Employees Retirement System of Ohio lifted its holdings in Pembina Pipeline by 140.8% in the fourth quarter. Public Employees Retirement System of Ohio now owns 122,237 shares of the pipeline company's stock worth $4,515,000 after purchasing an additional 71,482 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in Pembina Pipeline by 1,591.4% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 3,155,558 shares of the pipeline company's stock worth $116,440,000 after purchasing an additional 2,968,994 shares during the period. Finally, USS Investment Management Ltd lifted its holdings in Pembina Pipeline by 54.9% in the fourth quarter. USS Investment Management Ltd now owns 110,640 shares of the pipeline company's stock worth $4,084,000 after purchasing an additional 39,206 shares during the period. Institutional investors and hedge funds own 55.37% of the company's stock.

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.