Pembina Pipeline Co. (NYSE:PBA) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. trimmed its stake in shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 6.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,555 shares of the pipeline company’s stock after selling 1,583 shares during the period. PNC Financial Services Group Inc.’s holdings in Pembina Pipeline were worth $930,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Godsey & Gibb Inc. acquired a new position in shares of Pembina Pipeline during the third quarter valued at approximately $25,000. Blue Trust Inc. raised its stake in Pembina Pipeline by 223.8% in the 3rd quarter. Blue Trust Inc. now owns 735 shares of the pipeline company’s stock valued at $30,000 after purchasing an additional 508 shares during the last quarter. CENTRAL TRUST Co lifted its holdings in Pembina Pipeline by 65.0% in the 3rd quarter. CENTRAL TRUST Co now owns 825 shares of the pipeline company’s stock valued at $34,000 after purchasing an additional 325 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Pembina Pipeline by 30.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,668 shares of the pipeline company’s stock worth $65,000 after purchasing an additional 387 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its stake in shares of Pembina Pipeline by 47.2% in the second quarter. Massmutual Trust Co. FSB ADV now owns 2,511 shares of the pipeline company’s stock worth $93,000 after buying an additional 805 shares in the last quarter. Institutional investors and hedge funds own 55.37% of the company’s stock.

Pembina Pipeline Price Performance

Shares of PBA opened at $41.19 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.51 and a debt-to-equity ratio of 0.79. Pembina Pipeline Co. has a twelve month low of $32.39 and a twelve month high of $43.44. The firm has a market capitalization of $23.91 billion, a PE ratio of 17.02 and a beta of 1.25. The stock’s 50 day moving average is $41.99 and its two-hundred day moving average is $39.44.

Pembina Pipeline Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be issued a $0.69 dividend. This is a positive change from Pembina Pipeline’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.76 annualized dividend and a yield of 6.70%. Pembina Pipeline’s dividend payout ratio is 84.30%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PBA. Raymond James started coverage on shares of Pembina Pipeline in a report on Friday, October 11th. They issued an “outperform” rating for the company. UBS Group started coverage on Pembina Pipeline in a report on Wednesday, September 11th. They issued a “neutral” rating for the company. Finally, Citigroup boosted their price objective on Pembina Pipeline from $53.00 to $56.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 28th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $56.50.

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.