Jennison Associates LLC Buys 150,689 Shares of Pembina Pipeline Co. (NYSE:PBA)

Jennison Associates LLC increased its position in shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 32.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 616,992 shares of the pipeline company’s stock after buying an additional 150,689 shares during the quarter. Jennison Associates LLC owned 0.11% of Pembina Pipeline worth $22,786,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PBA. Truist Financial Corp grew its holdings in shares of 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 purchasing an additional 4,331 shares in the last quarter. Cetera Investment Advisers boosted its stake in Pembina Pipeline by 1.7% during the second quarter. Cetera Investment Advisers now owns 49,076 shares of the pipeline company’s stock worth $1,820,000 after buying an additional 839 shares in the last quarter. SL Advisors LLC increased its holdings in Pembina Pipeline by 3.9% in the 3rd quarter. SL Advisors LLC now owns 26,577 shares of the pipeline company’s stock valued at $1,096,000 after buying an additional 987 shares during the period. CWM LLC raised its stake in shares of Pembina Pipeline by 38.7% in the 3rd quarter. CWM LLC now owns 7,874 shares of the pipeline company’s stock valued at $325,000 after buying an additional 2,198 shares in the last quarter. Finally, Creative Planning lifted its holdings in shares of Pembina Pipeline by 3.4% during the 3rd quarter. Creative Planning now owns 73,995 shares of the pipeline company’s stock worth $3,052,000 after acquiring an additional 2,419 shares during the period. 55.37% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on PBA shares. Raymond James began coverage on Pembina Pipeline in a research note on Friday, October 11th. They issued an “outperform” rating on the stock. 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. Barclays assumed coverage on shares of Pembina Pipeline in a research note on Thursday, December 12th. They issued an “overweight” rating for the company. Finally, TD Securities initiated coverage on Pembina Pipeline in a research report on Wednesday, January 15th. They set a “buy” rating on the stock. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Pembina Pipeline has a consensus rating of “Hold” and an average target price of $56.50.

Pembina Pipeline Price Performance

Shares of PBA stock opened at $36.55 on Thursday. The firm has a market capitalization of $21.22 billion, a price-to-earnings ratio of 15.10 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’s 50 day moving average is $37.56 and its 200-day moving average is $39.61. Pembina Pipeline Co. has a 1 year low of $32.81 and a 1 year high of $43.44.

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.