Commonwealth Equity Services LLC Lowers Position in Pembina Pipeline Co. (NYSE:PBA)

Commonwealth Equity Services LLC lessened its stake in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 1.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 188,865 shares of the pipeline company’s stock after selling 2,791 shares during the period. Commonwealth Equity Services LLC’s holdings in Pembina Pipeline were worth $6,979,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of PBA. Oppenheimer & Co. Inc. purchased a new stake in Pembina Pipeline in the 3rd quarter worth approximately $284,000. Empowered Funds LLC boosted its position in Pembina Pipeline by 96.8% in the 3rd quarter. Empowered Funds LLC now owns 12,334 shares of the pipeline company’s stock worth $509,000 after purchasing an additional 6,068 shares in the last quarter. Natixis Advisors LLC boosted its position in Pembina Pipeline by 19.2% in the 3rd quarter. Natixis Advisors LLC now owns 33,232 shares of the pipeline company’s stock worth $1,370,000 after purchasing an additional 5,360 shares in the last quarter. Prospera Private Wealth LLC purchased a new stake in Pembina Pipeline in the 3rd quarter worth approximately $26,000. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Pembina Pipeline by 8.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,507,356 shares of the pipeline company’s stock worth $62,201,000 after buying an additional 121,005 shares during the period. Hedge funds and other institutional investors own 55.37% of the company’s stock.

Pembina Pipeline Stock Up 1.4 %

NYSE PBA opened at $40.01 on Friday. The business has a fifty day moving average price of $37.21 and a 200 day moving average price of $39.32. Pembina Pipeline Co. has a one year low of $33.83 and a one year high of $43.44. 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 company has a market cap of $23.23 billion, a P/E ratio of 16.53 and a beta of 1.26.

Pembina Pipeline Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be issued a $0.4783 dividend. This represents a $1.91 annualized dividend and a yield of 4.78%. The ex-dividend date of this dividend is Monday, March 17th. Pembina Pipeline’s payout ratio is currently 86.76%.

Analyst Upgrades and Downgrades

PBA has been the subject of several research analyst reports. Citigroup raised Pembina Pipeline from a “neutral” rating to a “buy” rating in a research note on Monday, March 10th. Wells Fargo & Company downgraded Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Barclays initiated coverage on Pembina Pipeline in a research note on Thursday, December 12th. They set an “overweight” rating for the company. Finally, TD Securities initiated coverage on Pembina Pipeline in a research note on Wednesday, January 15th. They set a “buy” rating for the company. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Pembina Pipeline presently has an average rating of “Moderate Buy” and an average target price 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.