JPMorgan Chase & Co. Has $138.28 Million Stock Holdings in Pembina Pipeline Co. (NYSE:PBA)

JPMorgan Chase & Co. reduced its stake in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 7.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,742,281 shares of the pipeline company’s stock after selling 307,189 shares during the period. JPMorgan Chase & Co. owned approximately 0.64% of Pembina Pipeline worth $138,277,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Hillsdale Investment Management Inc. grew its position in Pembina Pipeline by 338.7% in the fourth quarter. Hillsdale Investment Management Inc. now owns 1,289,706 shares of the pipeline company’s stock valued at $47,598,000 after acquiring an additional 995,735 shares during the period. AGF Management Ltd. grew its holdings in shares of Pembina Pipeline by 612.7% in the 4th quarter. AGF Management Ltd. now owns 1,080,853 shares of the pipeline company’s stock worth $40,025,000 after purchasing an additional 929,206 shares during the last quarter. Vanguard Group Inc. increased 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 worth $919,503,000 after purchasing an additional 770,729 shares in the last quarter. FMR LLC lifted its holdings in Pembina Pipeline by 1,396.8% during the 3rd quarter. FMR LLC now owns 547,448 shares of the pipeline company’s stock valued at $22,573,000 after purchasing an additional 510,873 shares during the last quarter. Finally, TD Asset Management Inc. raised its stake in shares of Pembina Pipeline by 5.4% in the fourth quarter. TD Asset Management Inc. now owns 6,789,722 shares of the pipeline company’s stock valued at $250,732,000 after acquiring an additional 347,872 shares during the last quarter. 55.37% of the stock is owned by institutional investors and hedge funds.

Pembina Pipeline Stock Performance

Pembina Pipeline stock opened at $40.50 on Wednesday. Pembina Pipeline Co. has a 1 year low of $33.83 and a 1 year high of $43.44. The company’s 50-day moving average is $37.70 and its two-hundred day moving average is $39.27. 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 company has a market cap of $23.52 billion, a PE ratio of 16.74 and a beta of 1.26.

Pembina Pipeline Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were issued a dividend of $0.4783 per share. This represents a $1.91 dividend on an annualized basis and a yield of 4.72%. The ex-dividend date was Monday, March 17th. Pembina Pipeline’s dividend payout ratio is presently 86.76%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Barclays initiated coverage on Pembina Pipeline in a report on Thursday, December 12th. They set an “overweight” rating for the company. Citigroup upgraded shares of Pembina Pipeline from a “neutral” rating to a “buy” rating in a research report on Monday, March 10th. 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, TD Securities began coverage on shares of Pembina Pipeline in a research report on Wednesday, January 15th. They set a “buy” rating on the stock. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $56.50.

About Pembina Pipeline

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.