Prudential PLC Takes $372,000 Position in Pembina Pipeline Co. (NYSE:PBA)

Prudential PLC purchased a new position in shares of Pembina Pipeline Co. (NYSE:PBA - Free Report) TSE: PPL in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 10,087 shares of the pipeline company's stock, valued at approximately $372,000.

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

Pembina Pipeline Price Performance

Shares of NYSE PBA traded up $0.33 on Monday, hitting $36.67. The company's stock had a trading volume of 149,178 shares, compared to its average volume of 1,271,311. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.65 and a quick ratio of 0.51. Pembina Pipeline Co. has a 12-month low of $33.83 and a 12-month high of $43.44. The stock has a 50 day moving average of $37.77 and a 200-day moving average of $39.01. The company has a market capitalization of $21.29 billion, a price-to-earnings ratio of 15.15 and a beta of 0.89.

Pembina Pipeline Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were issued a $0.4783 dividend. The ex-dividend date was Monday, March 17th. This represents a $1.91 dividend on an annualized basis and a yield of 5.22%. Pembina Pipeline's dividend payout ratio (DPR) is 86.76%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Wells Fargo & Company cut Pembina Pipeline from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, December 18th. TD Securities began coverage on shares of Pembina Pipeline in a research report on Wednesday, January 15th. They set a "buy" rating on the stock. Finally, Citigroup upgraded shares of Pembina Pipeline from a "neutral" rating to a "buy" rating in a research note on Monday, March 10th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $56.50.

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.