Cascade Investment Group Inc. Has $2.34 Million Stock Position in Pembina Pipeline Co. (NYSE:PBA)

Cascade Investment Group Inc. lessened its stake in shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 1.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 63,238 shares of the pipeline company’s stock after selling 905 shares during the period. Pembina Pipeline accounts for approximately 1.7% of Cascade Investment Group Inc.’s portfolio, making the stock its 10th biggest position. Cascade Investment Group Inc.’s holdings in Pembina Pipeline were worth $2,337,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. PDT Partners LLC purchased a new position in shares of Pembina Pipeline in the third quarter worth $1,329,000. JPMorgan Chase & Co. grew its stake in shares of Pembina Pipeline by 18.2% in the third quarter. JPMorgan Chase & Co. now owns 4,049,470 shares of the pipeline company’s stock worth $167,000,000 after acquiring an additional 624,958 shares during the period. Sequoia Financial Advisors LLC lifted its position in Pembina Pipeline by 7.2% during the third quarter. Sequoia Financial Advisors LLC now owns 12,767 shares of the pipeline company’s stock valued at $527,000 after purchasing an additional 860 shares during the period. FMR LLC boosted its holdings in Pembina Pipeline by 1,396.8% in the third quarter. FMR LLC now owns 547,448 shares of the pipeline company’s stock worth $22,573,000 after purchasing an additional 510,873 shares during the last quarter. Finally, Recurrent Investment Advisors LLC grew its position in Pembina Pipeline by 2.6% in the 3rd quarter. Recurrent Investment Advisors LLC now owns 1,637,910 shares of the pipeline company’s stock worth $67,994,000 after purchasing an additional 41,282 shares during the period. Hedge funds and other institutional investors own 55.37% of the company’s stock.

Pembina Pipeline Stock Up 1.1 %

NYSE:PBA opened at $37.47 on Monday. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.65 and a quick ratio of 0.51. The company has a 50-day moving average of $38.81 and a 200 day moving average of $39.67. Pembina Pipeline Co. has a 1-year low of $32.81 and a 1-year high of $43.44. The firm has a market cap of $21.75 billion, a PE ratio of 15.48 and a beta of 1.25.

Pembina Pipeline Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were issued a $0.69 dividend. This is a positive change from Pembina Pipeline’s previous quarterly dividend of $0.50. This represents a $2.76 annualized dividend and a yield of 7.37%. The ex-dividend date of this dividend was Monday, December 16th. Pembina Pipeline’s payout ratio is currently 80.58%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on PBA shares. Wells Fargo & Company cut Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Raymond James started coverage on shares of Pembina Pipeline in a research report on Friday, October 11th. They set an “outperform” rating for the company. Barclays began coverage on Pembina Pipeline in a research note on Thursday, December 12th. They issued an “overweight” rating on the stock. Finally, TD Securities assumed coverage on shares of Pembina Pipeline in a report on Wednesday, January 15th. They issued a “buy” rating for the company. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Pembina Pipeline presently has an average rating of “Hold” and an average target price 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.