Versor Investments LP Cuts Stake in Pembina Pipeline Co. (NYSE:PBA)

Versor Investments LP cut its stake in shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 8.0% in the 3rd quarter, Holdings Channel.com reports. The fund owned 14,920 shares of the pipeline company’s stock after selling 1,300 shares during the period. Versor Investments LP’s holdings in Pembina Pipeline were worth $615,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Toronto Dominion Bank increased its stake in Pembina Pipeline by 97.2% during the 2nd quarter. Toronto Dominion Bank now owns 8,938,488 shares of the pipeline company’s stock valued at $331,439,000 after purchasing an additional 4,405,792 shares in the last quarter. Canada Pension Plan Investment Board increased its position in shares of Pembina Pipeline by 56.9% during the second quarter. Canada Pension Plan Investment Board now owns 8,387,525 shares of the pipeline company’s stock valued at $311,142,000 after acquiring an additional 3,043,200 shares in the last quarter. Intact Investment Management Inc. raised its holdings in Pembina Pipeline by 83.2% in the 3rd quarter. Intact Investment Management Inc. now owns 1,976,934 shares of the pipeline company’s stock worth $81,498,000 after acquiring an additional 897,940 shares during the last quarter. ClearBridge Investments Ltd raised its holdings in Pembina Pipeline by 12.3% in the 1st quarter. ClearBridge Investments Ltd now owns 7,173,059 shares of the pipeline company’s stock worth $253,496,000 after acquiring an additional 784,814 shares during the last quarter. Finally, 1832 Asset Management L.P. lifted its position in Pembina Pipeline by 93.7% in the 1st quarter. 1832 Asset Management L.P. now owns 1,374,359 shares of the pipeline company’s stock valued at $48,570,000 after acquiring an additional 664,843 shares in the last quarter. Hedge funds and other institutional investors own 55.37% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on PBA. Citigroup lifted their target price on Pembina Pipeline from $53.00 to $56.00 and gave the stock a “neutral” rating in a report on Wednesday, August 28th. UBS Group assumed coverage on Pembina Pipeline in a report on Wednesday, September 11th. They issued a “neutral” rating for the company. Finally, Raymond James began coverage on shares of Pembina Pipeline in a research note on Friday, October 11th. They set an “outperform” rating on the stock. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $56.50.

Pembina Pipeline Price Performance

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 stock has a market capitalization of $24.10 billion, a price-to-earnings ratio of 17.05 and a beta of 1.25. The business’s fifty day moving average price is $41.68 and its 200-day moving average price is $38.98.

Pembina Pipeline Increases Dividend

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

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.