Intech Investment Management LLC trimmed its holdings in shares of Pembina Pipeline Corp. (NYSE:PBA – Free Report) (TSE:PPL) by 38.6% during the 4th quarter, Holdings Channel reports. The fund owned 26,727 shares of the pipeline company’s stock after selling 16,832 shares during the period. Intech Investment Management LLC’s holdings in Pembina Pipeline were worth $1,020,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Pembina Pipeline by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 27,233,442 shares of the pipeline company’s stock worth $1,037,512,000 after acquiring an additional 541,615 shares in the last quarter. TD Asset Management Inc grew its holdings in Pembina Pipeline by 3.9% during the 3rd quarter. TD Asset Management Inc now owns 7,582,203 shares of the pipeline company’s stock worth $306,634,000 after acquiring an additional 283,513 shares in the last quarter. Scotia Capital Inc. grew its holdings in Pembina Pipeline by 12.6% during the 3rd quarter. Scotia Capital Inc. now owns 6,425,487 shares of the pipeline company’s stock worth $258,724,000 after acquiring an additional 717,773 shares in the last quarter. Geode Capital Management LLC grew its holdings in Pembina Pipeline by 7.1% during the 4th quarter. Geode Capital Management LLC now owns 5,781,068 shares of the pipeline company’s stock worth $224,837,000 after acquiring an additional 385,201 shares in the last quarter. Finally, Legal & General Group Plc grew its holdings in Pembina Pipeline by 1.9% during the 4th quarter. Legal & General Group Plc now owns 4,461,560 shares of the pipeline company’s stock worth $170,194,000 after acquiring an additional 83,284 shares in the last quarter. 55.37% of the stock is currently owned by institutional investors.
Pembina Pipeline Stock Performance
Shares of Pembina Pipeline stock opened at $48.85 on Monday. The firm has a market capitalization of $28.40 billion, a P/E ratio of 25.44 and a beta of 0.57. The company has a quick ratio of 0.68, a current ratio of 0.83 and a debt-to-equity ratio of 0.84. The company has a 50 day moving average price of $45.93 and a 200 day moving average price of $42.60. Pembina Pipeline Corp. has a 52 week low of $35.45 and a 52 week high of $50.10.
Pembina Pipeline Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be given a $0.735 dividend. This represents a $2.94 annualized dividend and a dividend yield of 6.0%. The ex-dividend date of this dividend is Monday, June 15th. This is an increase from Pembina Pipeline’s previous quarterly dividend of $0.71. Pembina Pipeline’s payout ratio is 108.33%.
Analyst Upgrades and Downgrades
Several research analysts have issued reports on the stock. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Pembina Pipeline in a report on Tuesday, May 26th. TD Securities upgraded shares of Pembina Pipeline from a “hold” rating to a “buy” rating in a report on Tuesday, May 26th. BMO Capital Markets reiterated a “market perform” rating on shares of Pembina Pipeline in a report on Tuesday, May 26th. JPMorgan Chase & Co. increased their price target on shares of Pembina Pipeline from $55.00 to $60.00 and gave the company a “neutral” rating in a research report on Thursday, March 19th. Finally, Wall Street Zen raised shares of Pembina Pipeline from a “sell” rating to a “hold” rating in a research report on Sunday, May 10th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $62.67.
Check Out Our Latest Research Report on PBA
Pembina Pipeline Company Profile
Pembina Pipeline Corporation (NYSE: PBA) is a North American energy infrastructure company that develops, owns and operates midstream assets that transport, store and process hydrocarbons. Its core business focuses on the transportation of crude oil, natural gas liquids (NGLs) and condensate, along with gas processing, fractionation, storage and related marketing services. Pembina serves producers, refiners and other energy companies by providing pipeline capacity, terminal services and midstream solutions that link upstream production to downstream markets and export facilities.
The company’s asset base is concentrated in Western Canada, including major operations in Alberta and British Columbia, and it also has operations and commercial activities that extend into the United States.
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