Renaissance Technologies LLC Makes New Investment in Pembina Pipeline Co. (NYSE:PBA)

Renaissance Technologies LLC acquired a new stake in shares of Pembina Pipeline Co. (NYSE:PBA - Free Report) TSE: PPL during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 81,063 shares of the pipeline company's stock, valued at approximately $2,995,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sound Income Strategies LLC acquired a new position in Pembina Pipeline during the 4th quarter worth approximately $27,000. Versant Capital Management Inc bought a new stake in shares of Pembina Pipeline during the fourth quarter valued at approximately $27,000. Eastern Bank acquired a new position in shares of Pembina Pipeline during the fourth quarter worth approximately $29,000. Principal Securities Inc. grew its position in Pembina Pipeline by 2,597.1% in the 4th quarter. Principal Securities Inc. now owns 917 shares of the pipeline company's stock valued at $34,000 after purchasing an additional 883 shares during the period. Finally, Venturi Wealth Management LLC increased its stake in Pembina Pipeline by 880.0% during the 4th 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 in the last quarter. Institutional investors own 55.37% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on PBA shares. Citigroup upgraded shares of Pembina Pipeline from a "neutral" rating to a "buy" rating in a report on Monday, March 10th. TD Securities began coverage on shares of Pembina Pipeline in a research report on Wednesday, January 15th. They issued a "buy" rating on the stock. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, Pembina Pipeline has a consensus rating of "Moderate Buy" and an average target price of $56.00.

Pembina Pipeline Trading Down 0.5 %

Shares of PBA stock opened at $38.10 on Thursday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.51 and a current ratio of 0.65. The company has a market capitalization of $22.12 billion, a price-to-earnings ratio of 15.74 and a beta of 0.89. Pembina Pipeline Co. has a 52-week low of $34.13 and a 52-week high of $43.44. The company has a 50-day simple moving average of $37.93 and a two-hundred day simple moving average of $38.81.

Pembina Pipeline Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were issued a $0.4783 dividend. This represents a $1.91 annualized dividend and a dividend yield of 5.02%. The ex-dividend date was Monday, March 17th. Pembina Pipeline's dividend payout ratio is presently 86.76%.

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.

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