Summit Financial LLC Invests $3.12 Million in Pembina Pipeline Co. (NYSE:PBA)

Summit Financial LLC purchased a new stake in shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 84,458 shares of the pipeline company’s stock, valued at approximately $3,121,000.

Other large investors also recently bought and sold shares of the company. Safe Harbor Fiduciary LLC purchased a new position in shares of Pembina Pipeline during the 3rd quarter valued at approximately $26,000. Versant Capital Management Inc acquired a new stake in Pembina Pipeline during the fourth quarter valued at $27,000. Sound Income Strategies LLC purchased a new position in Pembina Pipeline in the fourth quarter valued at $27,000. Dunhill Financial LLC acquired a new position in shares of Pembina Pipeline in the third quarter worth about $28,000. Finally, Eastern Bank purchased a new stake in shares of Pembina Pipeline during the 4th quarter worth about $29,000. 55.37% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PBA. Barclays started coverage on Pembina Pipeline in a report on Thursday, December 12th. They issued an “overweight” rating for the company. 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. 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. Finally, Citigroup upgraded shares of Pembina Pipeline from a “neutral” rating to a “buy” rating in a research report on Monday, March 10th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Pembina Pipeline currently has an average rating of “Moderate Buy” and an average target price of $56.50.

Pembina Pipeline Price Performance

Pembina Pipeline stock opened at $40.00 on Tuesday. The company has a fifty day simple moving average of $37.65 and a 200-day simple moving average of $39.28. The firm has a market capitalization of $23.23 billion, a price-to-earnings ratio of 16.53 and a beta of 1.26. The company has a quick ratio of 0.51, a current ratio of 0.65 and a debt-to-equity ratio of 0.79. Pembina Pipeline Co. has a 52-week low of $33.83 and a 52-week high of $43.44.

Pembina Pipeline Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were issued a $0.4783 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $1.91 dividend on an annualized basis and a yield of 4.78%. Pembina Pipeline’s payout ratio 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.