Larson Financial Group LLC Sells 467 Shares of Pembina Pipeline Co. (NYSE:PBA)

Larson Financial Group LLC cut its stake in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 34.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 874 shares of the pipeline company’s stock after selling 467 shares during the period. Larson Financial Group LLC’s holdings in Pembina Pipeline were worth $32,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of PBA. PDT Partners LLC acquired a new position in shares of Pembina Pipeline during the third quarter worth approximately $1,329,000. Van ECK Associates Corp raised its position in shares of Pembina Pipeline by 8.0% during the fourth quarter. Van ECK Associates Corp now owns 225,684 shares of the pipeline company’s stock worth $8,335,000 after purchasing an additional 16,762 shares during the period. JPMorgan Chase & Co. raised its position in shares of Pembina Pipeline by 18.2% during the third quarter. JPMorgan Chase & Co. now owns 4,049,470 shares of the pipeline company’s stock worth $167,000,000 after purchasing an additional 624,958 shares during the period. Jennison Associates LLC raised its position in Pembina Pipeline by 32.3% in the 4th quarter. Jennison Associates LLC now owns 616,992 shares of the pipeline company’s stock valued at $22,786,000 after buying an additional 150,689 shares during the last quarter. Finally, FMR LLC raised its position in Pembina Pipeline by 1,396.8% in the 3rd quarter. FMR LLC now owns 547,448 shares of the pipeline company’s stock valued at $22,573,000 after buying an additional 510,873 shares during the last quarter. 55.37% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PBA has been the subject of a number of analyst reports. Wells Fargo & Company lowered Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Barclays initiated coverage on Pembina Pipeline in a research report on Thursday, December 12th. They issued an “overweight” rating for the company. TD Securities initiated coverage on Pembina Pipeline in a research report on Wednesday, January 15th. They set a “buy” rating for the company. Finally, Citigroup raised Pembina Pipeline from a “neutral” rating to a “buy” rating in a research report on Monday. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $56.50.

Pembina Pipeline Stock Down 0.5 %

PBA stock opened at $38.54 on Friday. 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 $22.37 billion, a price-to-earnings ratio of 15.92 and a beta of 1.26. Pembina Pipeline Co. has a fifty-two week low of $33.83 and a fifty-two week high of $43.44. The stock has a fifty day moving average of $36.96 and a 200-day moving average of $39.35.

Pembina Pipeline Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be paid a dividend of $0.4783 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.91 annualized dividend and a dividend yield of 4.96%. Pembina Pipeline’s payout ratio is 86.76%.

Pembina Pipeline Company 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.