B. Riley Wealth Advisors Inc. Decreases Holdings in Pembina Pipeline Co. (NYSE:PBA)

B. Riley Wealth Advisors Inc. lowered its holdings in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 9.4% during the fourth quarter, HoldingsChannel reports. The fund owned 17,785 shares of the pipeline company’s stock after selling 1,843 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Pembina Pipeline were worth $614,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in PBA. Norges Bank purchased a new position in Pembina Pipeline in the fourth quarter valued at approximately $133,917,000. Capital World Investors acquired a new stake in Pembina Pipeline during the 4th quarter worth $32,541,000. Mackenzie Financial Corp lifted its position in Pembina Pipeline by 5.7% in the fourth quarter. Mackenzie Financial Corp now owns 12,652,115 shares of the pipeline company’s stock valued at $435,812,000 after acquiring an additional 680,945 shares during the last quarter. Toronto Dominion Bank boosted its stake in Pembina Pipeline by 8.3% in the third quarter. Toronto Dominion Bank now owns 7,699,608 shares of the pipeline company’s stock valued at $231,450,000 after acquiring an additional 593,061 shares in the last quarter. Finally, Triasima Portfolio Management inc. purchased a new position in shares of Pembina Pipeline during the fourth quarter worth about $17,285,000. Institutional investors and hedge funds own 55.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on PBA shares. CIBC boosted their target price on Pembina Pipeline from $56.00 to $57.00 and gave the company an “outperformer” rating in a report on Friday, April 19th. Scotiabank downgraded Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a report on Sunday, May 19th. TheStreet raised shares of Pembina Pipeline from a “c” rating to a “b-” rating in a report on Thursday, February 29th. Finally, StockNews.com cut shares of Pembina Pipeline from a “buy” rating to a “hold” rating in a research note on Monday, May 13th. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $52.00.

Pembina Pipeline Trading Down 0.7 %

NYSE:PBA opened at $35.94 on Friday. Pembina Pipeline Co. has a 12-month low of $28.15 and a 12-month high of $37.67. The company has a current ratio of 1.03, a quick ratio of 0.93 and a debt-to-equity ratio of 0.78. The stock’s 50 day simple moving average is $36.23 and its 200-day simple moving average is $35.08. The firm has a market cap of $20.84 billion, a P/E ratio of 15.63, a PEG ratio of 5.18 and a beta of 1.24.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last announced its quarterly earnings data on Thursday, May 9th. The pipeline company reported $0.54 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.54. Pembina Pipeline had a net margin of 21.61% and a return on equity of 13.33%. The company had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.83 billion. Equities analysts anticipate that Pembina Pipeline Co. will post 2.33 EPS for the current year.

Pembina Pipeline Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 17th will be issued a dividend of $0.501 per share. This is a boost from Pembina Pipeline’s previous quarterly dividend of $0.49. This represents a $2.00 annualized dividend and a yield of 5.58%. The ex-dividend date of this dividend is Monday, June 17th. Pembina Pipeline’s dividend payout ratio is currently 86.96%.

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.