Thrive Wealth Management LLC Reduces Holdings in Pembina Pipeline Co. (NYSE:PBA)

Thrive Wealth Management LLC reduced its position in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 1.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 27,460 shares of the pipeline company’s stock after selling 408 shares during the period. Thrive Wealth Management LLC’s holdings in Pembina Pipeline were worth $1,015,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Kingsview Wealth Management LLC boosted its stake in shares of Pembina Pipeline by 4.1% during the third quarter. Kingsview Wealth Management LLC now owns 6,947 shares of the pipeline company’s stock worth $286,000 after buying an additional 273 shares during the period. CENTRAL TRUST Co raised its stake in Pembina Pipeline by 65.0% during the 3rd quarter. CENTRAL TRUST Co now owns 825 shares of the pipeline company’s stock valued at $34,000 after acquiring an additional 325 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its position in Pembina Pipeline by 1.8% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 18,675 shares of the pipeline company’s stock worth $770,000 after acquiring an additional 334 shares during the period. EverSource Wealth Advisors LLC grew its stake in shares of Pembina Pipeline by 30.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,668 shares of the pipeline company’s stock valued at $65,000 after purchasing an additional 387 shares during the last quarter. Finally, Gold Investment Management Ltd. increased its holdings in shares of Pembina Pipeline by 4.2% in the third quarter. Gold Investment Management Ltd. now owns 11,001 shares of the pipeline company’s stock valued at $453,000 after purchasing an additional 439 shares during the period. 55.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PBA. Wells Fargo & Company downgraded Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. TD Securities started coverage on shares of Pembina Pipeline in a research note on Wednesday, January 15th. They issued a “buy” rating for the company. Raymond James initiated coverage on shares of Pembina Pipeline in a research note on Friday, October 11th. They set an “outperform” rating on the stock. Finally, Barclays started coverage on shares of Pembina Pipeline in a report on Thursday, December 12th. They set an “overweight” rating for the company. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Pembina Pipeline presently has a consensus rating of “Hold” and an average price target of $56.50.

Pembina Pipeline Stock Performance

Shares of PBA opened at $37.47 on Monday. 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 Co. has a 52-week low of $32.81 and a 52-week high of $43.44. The company has a 50-day simple moving average of $38.81 and a 200-day simple moving average of $39.67. The company has a market capitalization of $21.75 billion, a PE ratio of 15.48 and a beta of 1.25.

Pembina Pipeline Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were issued a dividend of $0.69 per share. This is an increase from Pembina Pipeline’s previous quarterly dividend of $0.50. This represents a $2.76 annualized dividend and a yield of 7.37%. The ex-dividend date of this dividend was Monday, December 16th. Pembina Pipeline’s dividend payout ratio (DPR) is 80.58%.

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.