Aigen Investment Management LP Cuts Position in Pembina Pipeline Co. (NYSE:PBA)

Aigen Investment Management LP cut its stake in shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 34.9% in the third quarter, HoldingsChannel.com reports. The fund owned 14,569 shares of the pipeline company’s stock after selling 7,796 shares during the period. Aigen Investment Management LP’s holdings in Pembina Pipeline were worth $601,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Godsey & Gibb Inc. acquired a new position in Pembina Pipeline in the 3rd quarter valued at about $25,000. Blue Trust Inc. increased its holdings in Pembina Pipeline by 223.8% during the 3rd quarter. Blue Trust Inc. now owns 735 shares of the pipeline company’s stock worth $30,000 after purchasing an additional 508 shares during the period. CENTRAL TRUST Co raised its holdings in shares of Pembina Pipeline by 65.0% in the 3rd quarter. CENTRAL TRUST Co now owns 825 shares of the pipeline company’s stock valued at $34,000 after purchasing an additional 325 shares in the last quarter. Beacon Capital Management LLC acquired a new stake in shares of Pembina Pipeline during the 1st quarter worth about $37,000. Finally, EverSource Wealth Advisors LLC raised its holdings in Pembina Pipeline by 30.2% during the second quarter. EverSource Wealth Advisors LLC now owns 1,668 shares of the pipeline company’s stock worth $65,000 after purchasing an additional 387 shares in the last quarter. Institutional investors and hedge funds own 55.37% of the company’s stock.

Pembina Pipeline Price Performance

Shares of NYSE PBA opened at $41.52 on Thursday. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.65 and a quick ratio of 0.51. Pembina Pipeline Co. has a 1-year low of $31.51 and a 1-year high of $43.44. The business has a 50-day moving average of $41.68 and a 200-day moving average of $38.98. The company has a market capitalization of $24.10 billion, a price-to-earnings ratio of 17.15 and a beta of 1.25.

Pembina Pipeline Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be paid a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 6.65%. This is an increase from Pembina Pipeline’s previous quarterly dividend of $0.50. The ex-dividend date is Monday, December 16th. Pembina Pipeline’s dividend payout ratio (DPR) is 84.30%.

Analysts Set New Price Targets

PBA has been the topic of a number of research reports. UBS Group initiated coverage on Pembina Pipeline in a research note on Wednesday, September 11th. They set a “neutral” rating on the stock. Raymond James started coverage on shares of Pembina Pipeline in a research report on Friday, October 11th. They issued an “outperform” rating for the company. Finally, Citigroup upped their price target on shares of Pembina Pipeline from $53.00 to $56.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 28th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $56.50.

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.