A. D. Beadell Investment Counsel Inc. boosted its stake in Pembina Pipeline Co. (NYSE:PBA – Free Report) (TSE:PPL) by 2.2% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 86,045 shares of the pipeline company’s stock after acquiring an additional 1,828 shares during the period. Pembina Pipeline makes up approximately 2.6% of A. D. Beadell Investment Counsel Inc.’s portfolio, making the stock its 9th largest position. A. D. Beadell Investment Counsel Inc.’s holdings in Pembina Pipeline were worth $3,179,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Toronto Dominion Bank increased its position in Pembina Pipeline by 97.2% during the second quarter. Toronto Dominion Bank now owns 8,938,488 shares of the pipeline company’s stock worth $331,439,000 after purchasing an additional 4,405,792 shares during the last quarter. Canada Pension Plan Investment Board grew its stake in shares of Pembina Pipeline by 56.9% during the 2nd quarter. Canada Pension Plan Investment Board now owns 8,387,525 shares of the pipeline company’s stock valued at $311,142,000 after buying an additional 3,043,200 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of Pembina Pipeline by 71.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 3,163,711 shares of the pipeline company’s stock worth $130,501,000 after buying an additional 1,319,709 shares during the last quarter. Intact Investment Management Inc. raised its position in shares of Pembina Pipeline by 83.2% in the 3rd quarter. Intact Investment Management Inc. now owns 1,976,934 shares of the pipeline company’s stock worth $81,498,000 after buying an additional 897,940 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in Pembina Pipeline by 18.2% in the third quarter. JPMorgan Chase & Co. now owns 4,049,470 shares of the pipeline company’s stock valued at $167,000,000 after acquiring an additional 624,958 shares during the last quarter. Institutional investors and hedge funds own 55.37% of the company’s stock.
Analyst Ratings Changes
Several equities research analysts have commented on PBA shares. Raymond James assumed coverage on Pembina Pipeline in a research note on Friday, October 11th. They set an “outperform” rating for the company. Wells Fargo & Company lowered shares of Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Finally, Barclays initiated coverage on shares of Pembina Pipeline in a report on Thursday, December 12th. They set an “overweight” rating on the stock. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Pembina Pipeline currently has an average rating of “Hold” and a consensus target price of $56.50.
Pembina Pipeline Stock Down 2.0 %
PBA traded down $0.75 during trading hours on Friday, reaching $36.22. 255,394 shares of the stock traded hands, compared to its average volume of 1,175,071. Pembina Pipeline Co. has a fifty-two week low of $32.81 and a fifty-two week high of $43.44. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.65 and a quick ratio of 0.51. The company has a market cap of $21.03 billion, a price-to-earnings ratio of 14.97 and a beta of 1.25. The firm’s fifty day simple moving average is $39.37 and its two-hundred day simple moving average is $39.65.
Pembina Pipeline Increases Dividend
The business also recently disclosed 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 a positive change from Pembina Pipeline’s previous quarterly dividend of $0.50. This represents a $2.76 annualized dividend and a yield of 7.62%. The ex-dividend date of this dividend was Monday, December 16th. Pembina Pipeline’s dividend payout ratio (DPR) is currently 84.30%.
Pembina Pipeline 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.
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