Bard Associates Inc. Reduces Stock Position in Pembina Pipeline Co. (NYSE:PBA)

Bard Associates Inc. cut its holdings in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 3.8% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 30,058 shares of the pipeline company’s stock after selling 1,200 shares during the period. Bard Associates Inc.’s holdings in Pembina Pipeline were worth $1,240,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of PBA. Godsey & Gibb Inc. bought a new position in shares of Pembina Pipeline in the third quarter worth $25,000. Blue Trust Inc. boosted its stake in Pembina Pipeline by 223.8% in the 3rd quarter. Blue Trust Inc. now owns 735 shares of the pipeline company’s stock worth $30,000 after purchasing an additional 508 shares during the period. CENTRAL TRUST Co grew its holdings 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 buying an additional 325 shares in the last quarter. Beacon Capital Management LLC bought a new stake in shares of Pembina Pipeline during the first quarter valued at about $37,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Pembina Pipeline by 30.2% in the second quarter. EverSource Wealth Advisors LLC now owns 1,668 shares of the pipeline company’s stock worth $65,000 after buying an additional 387 shares in the last quarter. 55.37% of the stock is currently owned by hedge funds and other institutional investors.

Pembina Pipeline Stock Performance

Shares of NYSE:PBA opened at $41.79 on Friday. 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 company has a 50-day moving average price of $41.70 and a 200-day moving average price of $39.00. The company has a market cap of $24.26 billion, a price-to-earnings ratio of 17.27 and a beta of 1.25. Pembina Pipeline Co. has a 12 month low of $31.51 and a 12 month high of $43.44.

Pembina Pipeline Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be paid a dividend of $0.69 per share. This is a positive change from Pembina Pipeline’s previous quarterly dividend of $0.50. The ex-dividend date is Monday, December 16th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 6.60%. Pembina Pipeline’s payout ratio is presently 84.30%.

Analyst Upgrades and Downgrades

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

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.