HighTower Advisors LLC Raises Stock Position in Pembina Pipeline Co. (NYSE:PBA)

HighTower Advisors LLC lifted its holdings in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 18.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 28,813 shares of the pipeline company’s stock after buying an additional 4,385 shares during the period. HighTower Advisors LLC’s holdings in Pembina Pipeline were worth $1,065,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Safe Harbor Fiduciary LLC purchased a new position in Pembina Pipeline in the third quarter worth about $26,000. Versant Capital Management Inc bought a new stake in shares of Pembina Pipeline in the 4th quarter valued at approximately $27,000. Sound Income Strategies LLC bought a new stake in shares of Pembina Pipeline in the 4th quarter valued at approximately $27,000. Dunhill Financial LLC purchased a new position in shares of Pembina Pipeline in the 3rd quarter worth approximately $28,000. Finally, Eastern Bank bought a new position in shares of Pembina Pipeline during the 4th quarter valued at approximately $29,000. 55.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Pembina Pipeline Trading Up 0.0 %

Shares of PBA opened at $40.09 on Thursday. The firm has a market capitalization of $23.27 billion, a price-to-earnings ratio of 16.56 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. The company has a 50-day moving average of $37.49 and a 200 day moving average of $39.30.

Pembina Pipeline Cuts Dividend

The business 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. This represents a $1.91 annualized dividend and a dividend yield of 4.77%. The ex-dividend date is Monday, March 17th. Pembina Pipeline’s dividend payout ratio is presently 86.76%.

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.