RNC Capital Management LLC Purchases 1,648 Shares of Pembina Pipeline Co. (NYSE:PBA)

RNC Capital Management LLC lifted its stake in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 7.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 23,406 shares of the pipeline company’s stock after purchasing an additional 1,648 shares during the quarter. RNC Capital Management LLC’s holdings in Pembina Pipeline were worth $865,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. CIBC Asset Management Inc boosted its position in shares of Pembina Pipeline by 8.1% during the third quarter. CIBC Asset Management Inc now owns 6,405,991 shares of the pipeline company’s stock worth $264,315,000 after purchasing an additional 481,285 shares in the last quarter. Kayne Anderson Capital Advisors LP lifted its position in Pembina Pipeline by 15.3% during the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 4,155,198 shares of the pipeline company’s stock worth $171,360,000 after buying an additional 550,491 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Pembina Pipeline by 18.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,049,470 shares of the pipeline company’s stock worth $167,000,000 after purchasing an additional 624,958 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in Pembina Pipeline by 71.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 3,163,711 shares of the pipeline company’s stock valued at $130,501,000 after buying an additional 1,319,709 shares during the last quarter. Finally, Cardinal Capital Management Inc. grew its stake in Pembina Pipeline by 1.3% in the 4th quarter. Cardinal Capital Management Inc. now owns 2,920,900 shares of the pipeline company’s stock valued at $107,675,000 after buying an additional 37,595 shares during the last quarter. Institutional investors and hedge funds own 55.37% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Raymond James assumed coverage on shares of Pembina Pipeline in a research report on Friday, October 11th. They issued an “outperform” rating on the stock. Wells Fargo & Company downgraded shares of Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. TD Securities assumed coverage on shares of Pembina Pipeline in a report on Wednesday, January 15th. They set a “buy” rating on the stock. Finally, Barclays assumed coverage on shares of Pembina Pipeline in a research report on Thursday, December 12th. They issued an “overweight” rating on the stock. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $56.50.

Pembina Pipeline Price Performance

Shares of NYSE:PBA opened at $36.54 on Friday. 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 $32.81 and a 1-year high of $43.44. The company has a market capitalization of $21.22 billion, a P/E ratio of 15.10 and a beta of 1.25. The firm’s 50 day simple moving average is $37.47 and its two-hundred day simple moving average is $39.59.

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.