Addenda Capital Inc. cut its stake in Pembina Pipeline Co. (NYSE:PBA – Free Report) (TSE:PPL) by 2.8% in the fourth quarter, HoldingsChannel reports. The firm owned 604,419 shares of the pipeline company’s stock after selling 17,458 shares during the quarter. Pembina Pipeline makes up about 1.0% of Addenda Capital Inc.’s investment portfolio, making the stock its 29th biggest position. Addenda Capital Inc.’s holdings in Pembina Pipeline were worth $22,333,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of PBA. Godsey & Gibb Inc. acquired a new stake in Pembina Pipeline in the 3rd quarter valued at about $25,000. Prospera Private Wealth LLC acquired a new stake in Pembina Pipeline in the third quarter valued at approximately $26,000. Safe Harbor Fiduciary LLC acquired a new position in Pembina Pipeline during the 3rd quarter worth approximately $26,000. Versant Capital Management Inc acquired a new position in Pembina Pipeline during the 4th quarter worth approximately $27,000. Finally, Dunhill Financial LLC purchased a new stake in shares of Pembina Pipeline in the 3rd quarter valued at approximately $28,000. 55.37% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research firms have recently issued reports on PBA. Wells Fargo & Company cut shares of Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Barclays initiated coverage on Pembina Pipeline in a research report on Thursday, December 12th. They set an “overweight” rating for the company. Raymond James began coverage on Pembina Pipeline in a research report on Friday, October 11th. They set an “outperform” rating on the stock. Finally, TD Securities began coverage on Pembina Pipeline in a research note on Wednesday, January 15th. They set a “buy” rating for the company. 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 MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $56.50.
Pembina Pipeline Stock Up 1.1 %
Pembina Pipeline stock opened at $37.47 on Tuesday. The company has a market capitalization of $21.75 billion, a P/E ratio of 15.48 and a beta of 1.25. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.51 and a current ratio of 0.65. Pembina Pipeline Co. has a fifty-two week low of $32.81 and a fifty-two week high of $43.44. The stock has a 50-day simple moving average of $38.81 and a 200-day simple moving average of $39.68.
Pembina Pipeline Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were issued a $0.69 dividend. This is an increase from Pembina Pipeline’s previous quarterly dividend of $0.50. This represents a $2.76 annualized dividend and a dividend yield of 7.37%. The ex-dividend date was Monday, December 16th. Pembina Pipeline’s dividend payout ratio is presently 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.
Featured Articles
- Five stocks we like better than Pembina Pipeline
- Insider Selling Explained: Can it Inform Your Investing Choices?
- 3 Stocks to Gain From Donald Trump’s External Revenue Service
- What is the MACD Indicator and How to Use it in Your Trading
- AMD: Loop Capital’s Buy Rating Reinforces Investor Confidence
- Trading Halts Explained
- Momentum Is Building for Qualcomm to Have a Strong Run in 2025
Want to see what other hedge funds are holding PBA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pembina Pipeline Co. (NYSE:PBA – Free Report) (TSE:PPL).
Receive News & Ratings for Pembina Pipeline Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pembina Pipeline and related companies with MarketBeat.com's FREE daily email newsletter.