Alliancebernstein L.P. decreased its position in shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 56.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 90,936 shares of the pipeline company’s stock after selling 117,334 shares during the quarter. Alliancebernstein L.P.’s holdings in Pembina Pipeline were worth $2,623,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of PBA. Norges Bank acquired a new stake in shares of Pembina Pipeline during the 4th quarter worth approximately $85,157,000. Canada Pension Plan Investment Board grew its stake in shares of Pembina Pipeline by 21.2% during the 4th quarter. Canada Pension Plan Investment Board now owns 9,721,905 shares of the pipeline company’s stock worth $229,693,000 after purchasing an additional 1,700,000 shares during the period. Mufg Securities Canada LTD. grew its stake in shares of Pembina Pipeline by 512.4% during the 1st quarter. Mufg Securities Canada LTD. now owns 1,792,714 shares of the pipeline company’s stock worth $51,744,000 after purchasing an additional 1,499,971 shares during the period. Amundi Pioneer Asset Management Inc. grew its stake in Pembina Pipeline by 364.4% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 1,676,046 shares of the pipeline company’s stock valued at $39,654,000 after acquiring an additional 1,315,156 shares during the period. Finally, FIL Ltd grew its stake in Pembina Pipeline by 6.2% in the 4th quarter. FIL Ltd now owns 12,449,286 shares of the pipeline company’s stock valued at $294,386,000 after acquiring an additional 722,470 shares during the period. 55.14% of the stock is currently owned by institutional investors and hedge funds.
NYSE PBA opened at $33.00 on Friday. Pembina Pipeline Co. has a 52 week low of $20.09 and a 52 week high of $33.17. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.55 and a current ratio of 0.67. The business’s fifty day moving average is $30.99. The stock has a market cap of $18.15 billion, a price-to-earnings ratio of -47.14, a PEG ratio of 3.27 and a beta of 1.49.
The business also recently declared a monthly dividend, which will be paid on Thursday, July 15th. Stockholders of record on Friday, June 25th will be issued a dividend of $0.1734 per share. This represents a $2.08 annualized dividend and a dividend yield of 6.31%. The ex-dividend date of this dividend is Thursday, June 24th. This is a positive change from Pembina Pipeline’s previous monthly dividend of $0.17. Pembina Pipeline’s payout ratio is currently 86.39%.
A number of equities research analysts recently issued reports on the stock. Tudor Pickering reissued a “buy” rating and issued a $40.00 price target on shares of Pembina Pipeline in a research note on Tuesday, May 11th. Scotiabank lifted their price target on shares of Pembina Pipeline from $37.00 to $39.00 and gave the company a “sector perform” rating in a research note on Monday, May 10th. BMO Capital Markets lifted their price target on shares of Pembina Pipeline from $35.00 to $37.00 and gave the company a “market perform” rating in a research note on Friday, February 26th. TD Securities lifted their price target on shares of Pembina Pipeline from $39.00 to $41.00 and gave the company a “buy” rating in a research note on Monday, May 10th. Finally, CIBC reissued a “neutral” rating and issued a $39.00 price target on shares of Pembina Pipeline in a research note on Thursday, May 13th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the stock. Pembina Pipeline has an average rating of “Hold” and a consensus target price of $38.60.
About Pembina Pipeline
Pembina Pipeline Corporation provides transportation and midstream services for the energy industry. 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 3.1 millions of barrels of oil equivalent per day, ground storage of 11 millions of barrels, and rail terminalling capacity of approximately 145 thousands of barrels of oil equivalent per day serving markets and basins across North America.
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