Ingalls & Snyder LLC Decreases Position in Pembina Pipeline Co. (NYSE:PBA)

Ingalls & Snyder LLC reduced its position in shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 2.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,550 shares of the pipeline company’s stock after selling 828 shares during the period. Ingalls & Snyder LLC’s holdings in Pembina Pipeline were worth $1,314,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. PDT Partners LLC acquired a new stake in shares of Pembina Pipeline in the third quarter worth approximately $1,329,000. JPMorgan Chase & Co. boosted its stake in Pembina Pipeline by 18.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,049,470 shares of the pipeline company’s stock worth $167,000,000 after purchasing an additional 624,958 shares during the last quarter. Sequoia Financial Advisors LLC grew its holdings in shares of Pembina Pipeline by 7.2% during the third quarter. Sequoia Financial Advisors LLC now owns 12,767 shares of the pipeline company’s stock worth $527,000 after buying an additional 860 shares in the last quarter. Jennison Associates LLC raised its position in shares of Pembina Pipeline by 32.3% in the fourth quarter. Jennison Associates LLC now owns 616,992 shares of the pipeline company’s stock valued at $22,786,000 after buying an additional 150,689 shares during the last quarter. Finally, FMR LLC lifted its stake in shares of Pembina Pipeline by 1,396.8% in the third quarter. FMR LLC now owns 547,448 shares of the pipeline company’s stock worth $22,573,000 after buying an additional 510,873 shares in the last quarter. Institutional investors and hedge funds own 55.37% of the company’s stock.

Analyst Ratings Changes

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

Pembina Pipeline Stock Performance

NYSE:PBA opened at $36.88 on Friday. The company’s 50-day moving average is $37.07 and its two-hundred day moving average is $39.53. The firm has a market capitalization of $21.41 billion, a price-to-earnings ratio of 15.24 and a beta of 1.25. 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 $33.28 and a 1-year high of $43.44.

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.