Pembina Pipeline Co. (NYSE:PBA) Short Interest Update

Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) was the recipient of a significant growth in short interest in February. As of February 28th, there was short interest totalling 12,220,000 shares, a growth of 94.9% from the February 13th total of 6,270,000 shares. Based on an average daily volume of 1,570,000 shares, the days-to-cover ratio is presently 7.8 days. Currently, 2.1% of the company’s stock are sold short.

Pembina Pipeline Stock Performance

PBA opened at $39.00 on Friday. The stock has a 50-day moving average of $37.00 and a 200-day moving average of $39.34. Pembina Pipeline has a 52-week low of $33.83 and a 52-week high of $43.44. The company has a market cap of $22.64 billion, a PE ratio of 16.12 and a beta of 1.26. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.51 and a current ratio of 0.65.

Pembina Pipeline Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be paid a dividend of $0.4783 per share. The ex-dividend date is Monday, March 17th. This represents a $1.91 annualized dividend and a yield of 4.90%. Pembina Pipeline’s payout ratio is 86.76%.

Institutional Trading of Pembina Pipeline

Hedge funds have recently added to or reduced their stakes in the business. Prospera Private Wealth LLC bought a new stake in Pembina Pipeline during the 3rd quarter valued at approximately $26,000. Safe Harbor Fiduciary LLC bought a new stake in Pembina Pipeline during the 3rd quarter valued at approximately $26,000. Versant Capital Management Inc bought a new stake in Pembina Pipeline during the 4th quarter valued at approximately $27,000. Sound Income Strategies LLC acquired a new position in Pembina Pipeline in the 4th quarter valued at approximately $27,000. Finally, Dunhill Financial LLC acquired a new position in Pembina Pipeline in the 3rd quarter valued at approximately $28,000. Institutional investors own 55.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Citigroup upgraded Pembina Pipeline from a “neutral” rating to a “buy” rating in a research note on Monday, March 10th. TD Securities started coverage on Pembina Pipeline in a research note on Wednesday, January 15th. They set a “buy” rating for the company. Wells Fargo & Company downgraded Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Finally, Barclays started coverage on Pembina Pipeline in a research note on Thursday, December 12th. They set an “overweight” rating for the company. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $56.50.

Pembina Pipeline Company 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.