Corient Private Wealth LLC Raises Position in Pembina Pipeline Co. (NYSE:PBA)

Corient Private Wealth LLC increased its stake in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 87.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 35,007 shares of the pipeline company’s stock after purchasing an additional 16,293 shares during the quarter. Corient Private Wealth LLC’s holdings in Pembina Pipeline were worth $1,299,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of PBA. Safe Harbor Fiduciary LLC bought a new stake in shares of Pembina Pipeline in the third quarter valued at $26,000. Versant Capital Management Inc purchased a new stake in Pembina Pipeline in the 4th quarter worth about $27,000. Sound Income Strategies LLC bought a new stake in Pembina Pipeline in the 4th quarter valued at about $27,000. Dunhill Financial LLC purchased a new stake in Pembina Pipeline during the third quarter valued at about $28,000. Finally, Eastern Bank bought a new position in Pembina Pipeline during the fourth quarter worth about $29,000. Hedge funds and other institutional investors own 55.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on PBA shares. TD Securities assumed coverage on shares of Pembina Pipeline in a research report on Wednesday, January 15th. They issued a “buy” rating on the stock. Citigroup raised shares of Pembina Pipeline from a “neutral” rating to a “buy” rating in a report on Monday, March 10th. Barclays assumed coverage on Pembina Pipeline in a report on Thursday, December 12th. They issued an “overweight” rating for the company. Finally, Wells Fargo & Company lowered Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $56.50.

Pembina Pipeline Stock Performance

NYSE PBA opened at $40.10 on Wednesday. The company’s 50 day simple moving average is $37.43 and its two-hundred day simple moving average is $39.30. The stock has a market capitalization of $23.28 billion, a PE ratio of 16.57 and a beta of 1.26. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.65 and a quick ratio of 0.51. Pembina Pipeline Co. has a 1 year low of $33.83 and a 1 year high of $43.44.

Pembina Pipeline Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be paid a dividend of $0.4783 per share. This represents a $1.91 annualized dividend and a yield of 4.77%. The ex-dividend date is Monday, March 17th. Pembina Pipeline’s dividend 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.