Wells Fargo & Company MN Raises Stock Holdings in Pembina Pipeline Co. (NYSE:PBA)

Wells Fargo & Company MN boosted its position in Pembina Pipeline Co. (NYSE:PBA - Free Report) TSE: PPL by 4.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 215,118 shares of the pipeline company's stock after purchasing an additional 9,325 shares during the period. Wells Fargo & Company MN's holdings in Pembina Pipeline were worth $7,949,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of PBA. Van ECK Associates Corp lifted its position in shares of Pembina Pipeline by 8.0% during the 4th quarter. Van ECK Associates Corp now owns 225,684 shares of the pipeline company's stock valued at $8,335,000 after buying an additional 16,762 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Pembina Pipeline by 18.2% during the third quarter. JPMorgan Chase & Co. now owns 4,049,470 shares of the pipeline company's stock valued at $167,000,000 after purchasing an additional 624,958 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in Pembina Pipeline by 1.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 22,903 shares of the pipeline company's stock worth $846,000 after purchasing an additional 348 shares during the period. Jennison Associates LLC increased its stake in shares of Pembina Pipeline by 32.3% in the fourth quarter. Jennison Associates LLC now owns 616,992 shares of the pipeline company's stock worth $22,786,000 after purchasing an additional 150,689 shares in the last quarter. Finally, Korea Investment CORP raised its position in shares of Pembina Pipeline by 32.7% in the fourth quarter. Korea Investment CORP now owns 440,818 shares of the pipeline company's stock valued at $16,279,000 after purchasing an additional 108,529 shares during the period. 55.37% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on PBA. Citigroup raised shares of Pembina Pipeline from a "neutral" rating to a "buy" rating in a report on Monday, March 10th. TD Securities assumed coverage on Pembina Pipeline in a report on Wednesday, January 15th. They issued a "buy" rating for the company. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $56.00.

Pembina Pipeline Price Performance

NYSE:PBA traded down $0.27 during mid-day trading on Wednesday, hitting $38.01. 172,685 shares of the stock traded hands, compared to its average volume of 1,413,367. The business's 50-day moving average price is $37.89 and its 200 day moving average price is $38.82. 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 company has a market cap of $22.07 billion, a PE ratio of 15.71 and a beta of 0.89. Pembina Pipeline Co. has a 12-month low of $34.13 and a 12-month high of $43.44.

Pembina Pipeline Cuts Dividend

The company 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 of this dividend was Monday, March 17th. This represents a $1.91 dividend on an annualized basis and a dividend yield of 5.03%. Pembina Pipeline's dividend payout ratio (DPR) is currently 86.76%.

About Pembina Pipeline

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.