Montrusco Bolton Investments Inc. lessened its stake in Pembina Pipeline Corp. (NYSE:PBA – Free Report) (TSE:PPL) by 8.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 206,061 shares of the pipeline company’s stock after selling 18,061 shares during the period. Montrusco Bolton Investments Inc.’s holdings in Pembina Pipeline were worth $9,221,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Diversified Management Inc. purchased a new stake in shares of Pembina Pipeline during the 3rd quarter valued at $779,000. Versant Capital Management Inc grew its position in Pembina Pipeline by 23.6% in the third quarter. Versant Capital Management Inc now owns 2,187 shares of the pipeline company’s stock worth $97,000 after acquiring an additional 418 shares in the last quarter. Tidal Investments LLC increased its stake in Pembina Pipeline by 5.8% in the second quarter. Tidal Investments LLC now owns 38,858 shares of the pipeline company’s stock valued at $1,797,000 after acquiring an additional 2,145 shares during the last quarter. M.E. Allison & CO. Inc. increased its stake in Pembina Pipeline by 4.9% in the second quarter. M.E. Allison & CO. Inc. now owns 7,815 shares of the pipeline company’s stock valued at $361,000 after acquiring an additional 365 shares during the last quarter. Finally, Cidel Asset Management Inc. raised its position in Pembina Pipeline by 22.0% during the second quarter. Cidel Asset Management Inc. now owns 307,057 shares of the pipeline company’s stock valued at $14,202,000 after purchasing an additional 55,401 shares in the last quarter. Hedge funds and other institutional investors own 55.37% of the company’s stock.
Pembina Pipeline Trading Up 1.7%
Shares of NYSE PBA traded up $0.83 during midday trading on Tuesday, reaching $48.63. The company had a trading volume of 1,710,826 shares, compared to its average volume of 1,261,613. Pembina Pipeline Corp. has a one year low of $36.20 and a one year high of $51.58. The company has a quick ratio of 0.50, a current ratio of 0.62 and a debt-to-equity ratio of 0.78. The firm’s fifty day moving average price is $47.60 and its 200-day moving average price is $47.25. The stock has a market cap of $28.28 billion, a PE ratio of 23.84 and a beta of 0.62.
Pembina Pipeline Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th were paid a dividend of C$0.73 per share. This represents a $2.94 dividend on an annualized basis and a dividend yield of 6.0%. The ex-dividend date of this dividend was Tuesday, September 15th. Pembina Pipeline’s dividend payout ratio is 103.92%.
Analysts Set New Price Targets
A number of brokerages recently weighed in on PBA. Wall Street Zen raised Pembina Pipeline from a “sell” rating to a “hold” rating in a report on Saturday, July 25th. TD Securities restated a “buy” rating on shares of Pembina Pipeline in a research report on Thursday, July 16th. Barclays reaffirmed an “overweight” rating on shares of Pembina Pipeline in a research note on Wednesday, October 7th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Pembina Pipeline in a research report on Friday, July 3rd. Finally, Weiss Ratings raised shares of Pembina Pipeline from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, October 6th. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $64.00.
View Our Latest Research Report on PBA
Pembina Pipeline Company Profile
Pembina Pipeline Corporation is a Canadian energy infrastructure company that provides transportation and midstream services for the oil, natural gas and natural gas liquids industries. Its operations are focused primarily on Western Canada, where it connects hydrocarbon-producing regions with processing facilities, storage sites, refineries, petrochemical markets and export channels.
The company owns and operates an extensive network of pipelines and related infrastructure. Its services include hydrocarbon gathering and transportation, natural gas processing, fractionation and storage of natural gas liquids, terminalling and rail services.
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