Pembina Pipeline Co. (NYSE:PBA) Stock Position Decreased by Tidal Investments LLC

Tidal Investments LLC lowered its position in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 11.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,422 shares of the pipeline company’s stock after selling 1,168 shares during the period. Tidal Investments LLC’s holdings in Pembina Pipeline were worth $389,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in PBA. Toronto Dominion Bank raised its holdings in shares of Pembina Pipeline by 97.2% during the 2nd quarter. Toronto Dominion Bank now owns 8,938,488 shares of the pipeline company’s stock valued at $331,439,000 after purchasing an additional 4,405,792 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in Pembina Pipeline by 56.9% during the second quarter. Canada Pension Plan Investment Board now owns 8,387,525 shares of the pipeline company’s stock valued at $311,142,000 after buying an additional 3,043,200 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Pembina Pipeline by 71.6% in the third quarter. The Manufacturers Life Insurance Company now owns 3,163,711 shares of the pipeline company’s stock worth $130,501,000 after buying an additional 1,319,709 shares during the last quarter. Intact Investment Management Inc. boosted its stake in shares of Pembina Pipeline by 83.2% during the 3rd quarter. Intact Investment Management Inc. now owns 1,976,934 shares of the pipeline company’s stock worth $81,498,000 after acquiring an additional 897,940 shares in the last quarter. Finally, Clearbridge Investments LLC increased its holdings in shares of Pembina Pipeline by 2,256.3% during the 2nd quarter. Clearbridge Investments LLC now owns 649,778 shares of the pipeline company’s stock valued at $24,094,000 after acquiring an additional 622,202 shares during the last quarter. 55.37% of the stock is currently owned by institutional investors and hedge funds.

Pembina Pipeline Stock Performance

PBA stock opened at $36.57 on Tuesday. The company has a 50 day moving average price of $40.97 and a 200 day moving average price of $39.69. Pembina Pipeline Co. has a fifty-two week low of $32.81 and a fifty-two week high of $43.44. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.65 and a quick ratio of 0.51. The stock has a market capitalization of $21.23 billion, a PE ratio of 15.11 and a beta of 1.24.

Pembina Pipeline Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be paid a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 7.55%. The ex-dividend date of this dividend is Monday, December 16th. This is a positive change from Pembina Pipeline’s previous quarterly dividend of $0.50. Pembina Pipeline’s dividend payout ratio is 84.30%.

Analyst Ratings Changes

A number of brokerages have issued reports on PBA. UBS Group started coverage on Pembina Pipeline in a research report on Wednesday, September 11th. They set a “neutral” rating for the company. Barclays started coverage on Pembina Pipeline in a research note on Thursday, December 12th. They issued an “overweight” rating for the company. Wells Fargo & Company lowered Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Raymond James started coverage on shares of Pembina Pipeline in a report on Friday, October 11th. They set an “outperform” rating for the company. Finally, Citigroup raised their price target on Pembina Pipeline from $53.00 to $56.00 and gave the company a “neutral” rating in a report on Wednesday, August 28th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Pembina Pipeline presently has an average rating of “Hold” and a consensus price target of $56.50.

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.