Korea Investment CORP Increases Stock Holdings in Pembina Pipeline Co. (NYSE:PBA)

Korea Investment CORP boosted its position in shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 32.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 440,818 shares of the pipeline company’s stock after purchasing an additional 108,529 shares during the period. Korea Investment CORP owned approximately 0.08% of Pembina Pipeline worth $16,279,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Pembina Pipeline by 3.2% during the 4th quarter. Vanguard Group Inc. now owns 24,887,077 shares of the pipeline company’s stock valued at $919,503,000 after buying an additional 770,729 shares during the period. TD Asset Management Inc. increased its stake in Pembina Pipeline by 5.4% during the fourth quarter. TD Asset Management Inc. now owns 6,789,722 shares of the pipeline company’s stock worth $250,732,000 after acquiring an additional 347,872 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in Pembina Pipeline by 0.5% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,249,624 shares of the pipeline company’s stock valued at $230,610,000 after purchasing an additional 32,519 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Pembina Pipeline by 18.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,049,470 shares of the pipeline company’s stock valued at $167,000,000 after purchasing an additional 624,958 shares during the last quarter. Finally, Cardinal Capital Management Inc. grew its holdings in shares of Pembina Pipeline by 1.3% during the 4th quarter. Cardinal Capital Management Inc. now owns 2,920,900 shares of the pipeline company’s stock worth $107,675,000 after purchasing an additional 37,595 shares during the period. 55.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently issued reports on PBA shares. Citigroup upgraded shares of Pembina Pipeline from a “neutral” rating to a “buy” rating in a report on Monday, March 10th. TD Securities initiated coverage on shares of Pembina Pipeline in a research note on Wednesday, January 15th. They issued a “buy” rating on the stock. Barclays began coverage on shares of Pembina Pipeline in a research report on Thursday, December 12th. They set an “overweight” rating for the company. Finally, Wells Fargo & Company lowered Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Pembina Pipeline has an average rating of “Moderate Buy” and an average price target of $56.50.

Pembina Pipeline Trading Up 0.1 %

Shares of PBA stock opened at $39.91 on Friday. Pembina Pipeline Co. has a fifty-two week low of $33.83 and a fifty-two week high of $43.44. The company has a 50 day moving average price of $37.59 and a 200 day moving average price of $39.29. The stock has a market capitalization of $23.17 billion, a P/E ratio of 16.49 and a beta of 1.26. 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 Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be paid a $0.4783 dividend. The ex-dividend date is Monday, March 17th. This represents a $1.91 annualized dividend and a dividend yield of 4.79%. Pembina Pipeline’s dividend payout ratio (DPR) is 86.76%.

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.