BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Cuts Position in Pembina Pipeline Co. (NYSE:PBA)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp cut its stake in shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 69.7% during the third quarter, HoldingsChannel.com reports. The firm owned 186,564 shares of the pipeline company’s stock after selling 428,198 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Pembina Pipeline were worth $7,690,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in PBA. Janus Henderson Group PLC grew its position in Pembina Pipeline by 3.4% during the first quarter. Janus Henderson Group PLC now owns 60,676 shares of the pipeline company’s stock worth $2,144,000 after buying an additional 2,000 shares during the period. Cetera Investment Advisers grew its holdings in shares of Pembina Pipeline by 105.1% in the 1st quarter. Cetera Investment Advisers now owns 48,237 shares of the pipeline company’s stock worth $1,705,000 after acquiring an additional 24,717 shares during the period. Cetera Advisors LLC increased its stake in Pembina Pipeline by 248.9% in the 1st quarter. Cetera Advisors LLC now owns 31,948 shares of the pipeline company’s stock valued at $1,129,000 after purchasing an additional 22,790 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its holdings in Pembina Pipeline by 47.2% during the second quarter. Massmutual Trust Co. FSB ADV now owns 2,511 shares of the pipeline company’s stock worth $93,000 after purchasing an additional 805 shares during the last quarter. Finally, CWM LLC boosted its position in Pembina Pipeline by 68.0% during the second quarter. CWM LLC now owns 5,676 shares of the pipeline company’s stock worth $210,000 after purchasing an additional 2,298 shares in the last quarter. Hedge funds and other institutional investors own 55.37% of the company’s stock.

Pembina Pipeline Trading Up 0.4 %

Shares of PBA stock opened at $41.37 on Monday. The company has a market capitalization of $24.02 billion, a price-to-earnings ratio of 17.10 and a beta of 1.25. The company has a current ratio of 0.65, a quick ratio of 0.51 and a debt-to-equity ratio of 0.79. The firm has a 50-day moving average price of $42.00 and a 200 day moving average price of $39.50. Pembina Pipeline Co. has a twelve month low of $32.39 and a twelve month high of $43.44.

Pembina Pipeline Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be paid a dividend of $0.69 per share. This is an increase from Pembina Pipeline’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.76 annualized dividend and a dividend yield of 6.67%. Pembina Pipeline’s dividend payout ratio is presently 84.30%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on PBA shares. Raymond James initiated coverage on Pembina Pipeline in a research note on Friday, October 11th. They set an “outperform” rating for the company. UBS Group began coverage on shares of Pembina Pipeline in a report on Wednesday, September 11th. They issued a “neutral” rating on the stock. Finally, Citigroup raised their price objective on shares of Pembina Pipeline from $53.00 to $56.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 28th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $56.50.

Pembina Pipeline Company 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.