Raymond James Financial Inc. bought a new position in Pembina Pipeline Co. (NYSE:PBA - Free Report) TSE: PPL during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 76,634 shares of the pipeline company's stock, valued at approximately $2,832,000.
Several other large investors have also made changes to their positions in the company. JPMorgan Chase & Co. raised its holdings in shares of Pembina Pipeline by 18.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,049,470 shares of the pipeline company's stock worth $167,000,000 after purchasing an additional 624,958 shares during the period. Cardinal Capital Management Inc. raised its holdings in Pembina Pipeline by 1.3% in the fourth quarter. Cardinal Capital Management Inc. now owns 2,920,900 shares of the pipeline company's stock valued at $107,675,000 after buying an additional 37,595 shares during the period. Geode Capital Management LLC lifted its position in Pembina Pipeline by 10.2% during the third quarter. Geode Capital Management LLC now owns 2,715,428 shares of the pipeline company's stock valued at $113,531,000 after buying an additional 251,982 shares in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its stake in Pembina Pipeline by 19.1% during the fourth quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,675,327 shares of the pipeline company's stock worth $61,903,000 after buying an additional 269,062 shares during the period. Finally, Recurrent Investment Advisors LLC increased its position in shares of Pembina Pipeline by 2.6% in the third quarter. Recurrent Investment Advisors LLC now owns 1,637,910 shares of the pipeline company's stock worth $67,994,000 after acquiring an additional 41,282 shares in the last quarter. 55.37% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of analysts recently weighed in on the stock. Barclays began coverage on shares of Pembina Pipeline in a research report on Thursday, December 12th. They set an "overweight" rating for the company. TD Securities assumed coverage on Pembina Pipeline in a research report on Wednesday, January 15th. They issued a "buy" rating for the company. Wells Fargo & Company downgraded Pembina Pipeline from a "strong-buy" rating to a "hold" rating in a report on Wednesday, December 18th. Finally, Citigroup raised shares of Pembina Pipeline from a "neutral" rating to a "buy" rating in a research report on Monday, March 10th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $56.50.
Read Our Latest Stock Report on Pembina Pipeline
Pembina Pipeline Stock Up 0.9 %
PBA traded up $0.35 during trading on Wednesday, hitting $40.85. The company had a trading volume of 545,419 shares, compared to its average volume of 1,260,972. The company has a market cap of $23.72 billion, a PE ratio of 16.88 and a beta of 1.26. 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 1-year low of $33.83 and a 1-year high of $43.44. The business has a 50-day moving average of $37.77 and a 200-day moving average of $39.28.
Pembina Pipeline Cuts Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were given a dividend of $0.4783 per share. The ex-dividend date was Monday, March 17th. This represents a $1.91 annualized dividend and a dividend yield of 4.68%. Pembina Pipeline's payout ratio is 86.76%.
Pembina Pipeline Profile
(
Free Report)
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.
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