Sound Income Strategies LLC Acquires New Stake in Pembina Pipeline Co. (NYSE:PBA)

Sound Income Strategies LLC acquired a new stake in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 742 shares of the pipeline company’s stock, valued at approximately $27,000.

A number of other institutional investors and hedge funds have also bought and sold shares of PBA. AXA S.A. grew its holdings in Pembina Pipeline by 9.3% during the 2nd quarter. AXA S.A. now owns 15,145 shares of the pipeline company’s stock worth $562,000 after acquiring an additional 1,287 shares during the period. Creative Planning grew its holdings in Pembina Pipeline by 9.7% during the 2nd quarter. Creative Planning now owns 71,576 shares of the pipeline company’s stock worth $2,654,000 after acquiring an additional 6,356 shares during the period. William B. Walkup & Associates Inc. acquired a new stake in Pembina Pipeline during the 2nd quarter worth about $110,000. Truist Financial Corp grew its holdings in Pembina Pipeline by 23.5% during the 2nd quarter. Truist Financial Corp now owns 22,779 shares of the pipeline company’s stock worth $845,000 after acquiring an additional 4,331 shares during the period. Finally, Cetera Investment Advisers grew its holdings in Pembina Pipeline by 1.7% during the 2nd quarter. Cetera Investment Advisers now owns 49,076 shares of the pipeline company’s stock worth $1,820,000 after acquiring an additional 839 shares during the period. 55.37% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PBA has been the subject of a number of recent analyst reports. TD Securities initiated coverage on Pembina Pipeline in a report on Wednesday, January 15th. They set a “buy” rating for the company. Barclays assumed coverage on shares of Pembina Pipeline in a research report on Thursday, December 12th. They set an “overweight” rating on the stock. Raymond James assumed coverage on shares of Pembina Pipeline in a research report on Friday, October 11th. They set an “outperform” rating on the stock. Finally, 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. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $56.50.

Pembina Pipeline Price Performance

Shares of NYSE PBA opened at $37.07 on Monday. 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 market cap of $21.52 billion, a price-to-earnings ratio of 15.32 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. The firm’s 50-day simple moving average is $38.39 and its 200 day simple moving average is $39.66.

Pembina Pipeline Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were given a $0.69 dividend. This is a boost from Pembina Pipeline’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.76 annualized dividend and a yield of 7.44%. Pembina Pipeline’s dividend payout ratio (DPR) is presently 80.58%.

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.