Pembina Pipeline Co. (NYSE:PBA) Short Interest Update

Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) saw a significant growth in short interest in the month of March. As of March 15th, there was short interest totalling 22,840,000 shares, a growth of 86.9% from the February 28th total of 12,220,000 shares. Based on an average daily volume of 1,550,000 shares, the short-interest ratio is presently 14.7 days. Approximately 3.9% of the company’s shares are short sold.

Institutional Trading of Pembina Pipeline

Institutional investors have recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of Pembina Pipeline during the 4th quarter worth about $171,860,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of Pembina Pipeline by 1,591.4% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 3,155,558 shares of the pipeline company’s stock valued at $116,440,000 after purchasing an additional 2,968,994 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Pembina Pipeline in the 4th quarter valued at about $73,073,000. Mackenzie Financial Corp grew its stake in Pembina Pipeline by 10.6% during the 4th quarter. Mackenzie Financial Corp now owns 13,930,847 shares of the pipeline company’s stock worth $514,154,000 after buying an additional 1,331,294 shares during the last quarter. Finally, Hillsdale Investment Management Inc. increased its position in Pembina Pipeline by 338.7% during the fourth quarter. Hillsdale Investment Management Inc. now owns 1,289,706 shares of the pipeline company’s stock worth $47,598,000 after buying an additional 995,735 shares during the period. 55.37% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Pembina Pipeline Trading Up 0.1 %

NYSE PBA opened at $39.91 on Friday. Pembina Pipeline has a 52 week low of $33.83 and a 52 week high of $43.44. The firm has a 50 day moving average of $37.59 and a two-hundred day moving average of $39.30. The stock has a market capitalization of $23.17 billion, a PE ratio of 16.49 and a beta of 1.26. The company has a quick ratio of 0.51, a current ratio of 0.65 and a debt-to-equity ratio of 0.79.

Pembina Pipeline Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be issued a $0.4783 dividend. This represents a $1.91 annualized dividend and a yield of 4.79%. The ex-dividend date of this dividend is Monday, March 17th. Pembina Pipeline’s dividend payout ratio (DPR) is presently 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.