Atria Investments Inc Cuts Position in Pembina Pipeline Co. (NYSE:PBA)

Atria Investments Inc decreased its holdings in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 5.7% in the 3rd quarter, HoldingsChannel reports. The fund owned 29,565 shares of the pipeline company’s stock after selling 1,787 shares during the quarter. Atria Investments Inc’s holdings in Pembina Pipeline were worth $1,219,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Cetera Advisors LLC increased its position in Pembina Pipeline by 248.9% during the 1st quarter. Cetera Advisors LLC now owns 31,948 shares of the pipeline company’s stock worth $1,129,000 after purchasing an additional 22,790 shares in the last quarter. Hillsdale Investment Management Inc. increased its position in Pembina Pipeline by 13,721.7% during the 1st quarter. Hillsdale Investment Management Inc. now owns 72,702 shares of the pipeline company’s stock worth $2,567,000 after purchasing an additional 72,176 shares in the last quarter. Intech Investment Management LLC purchased a new stake in Pembina Pipeline during the 1st quarter worth about $1,387,000. Vanguard Group Inc. increased its position in Pembina Pipeline by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 22,053,531 shares of the pipeline company’s stock worth $779,372,000 after purchasing an additional 460,761 shares in the last quarter. Finally, Sequoia Financial Advisors LLC increased its position in Pembina Pipeline by 7.2% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 12,767 shares of the pipeline company’s stock worth $527,000 after purchasing an additional 860 shares in the last quarter. Hedge funds and other institutional investors own 55.37% of the company’s stock.

Pembina Pipeline Stock Performance

Pembina Pipeline stock opened at $41.64 on Friday. The stock’s 50 day moving average price is $41.74 and its 200 day moving average price is $39.06. The firm has a market capitalization of $24.17 billion, a PE ratio of 17.21 and a beta of 1.25. 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 Co. has a one year low of $31.51 and a one year high of $43.44.

Pembina Pipeline Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be given a dividend of $0.69 per share. The ex-dividend date is Monday, December 16th. 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 6.63%. Pembina Pipeline’s payout ratio is 84.30%.

Wall Street Analyst Weigh In

PBA has been the topic of a number of research analyst reports. Raymond James initiated coverage on Pembina Pipeline in a research note on Friday, October 11th. They issued an “outperform” rating on the stock. UBS Group started coverage on Pembina Pipeline in a research note on Wednesday, September 11th. They issued a “neutral” rating on the stock. Finally, Citigroup lifted their price objective on Pembina Pipeline from $53.00 to $56.00 and gave the company a “neutral” rating in a research note on Wednesday, August 28th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $56.50.

Pembina Pipeline 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.