JPMorgan Chase & Co. Raises Position in Pembina Pipeline Co. (NYSE:PBA)

JPMorgan Chase & Co. raised its holdings in shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 18.2% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 4,049,470 shares of the pipeline company’s stock after acquiring an additional 624,958 shares during the period. JPMorgan Chase & Co.’s holdings in Pembina Pipeline were worth $167,000,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of PBA. Bank of New York Mellon Corp boosted its holdings in Pembina Pipeline by 2.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 476,042 shares of the pipeline company’s stock valued at $17,652,000 after acquiring an additional 13,209 shares during the period. Van ECK Associates Corp boosted its stake in shares of Pembina Pipeline by 7.8% during the second quarter. Van ECK Associates Corp now owns 183,081 shares of the pipeline company’s stock valued at $6,792,000 after purchasing an additional 13,288 shares during the period. Natixis Advisors LLC grew its holdings in shares of Pembina Pipeline by 9.9% in the second quarter. Natixis Advisors LLC now owns 27,872 shares of the pipeline company’s stock worth $1,033,000 after purchasing an additional 2,518 shares during the last quarter. Versor Investments LP increased its stake in shares of Pembina Pipeline by 77.9% in the second quarter. Versor Investments LP now owns 16,220 shares of the pipeline company’s stock worth $602,000 after buying an additional 7,100 shares during the period. Finally, Fiera Capital Corp raised its holdings in Pembina Pipeline by 28.4% during the 2nd quarter. Fiera Capital Corp now owns 1,035,444 shares of the pipeline company’s stock valued at $38,434,000 after buying an additional 228,830 shares during the last quarter. 55.37% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PBA has been the topic of a number of analyst reports. UBS Group began coverage on shares of Pembina Pipeline in a research report on Wednesday, September 11th. They issued a “neutral” rating on the stock. Raymond James assumed coverage on Pembina Pipeline in a research report on Friday, October 11th. They set an “outperform” rating for the company. Barclays began coverage on Pembina Pipeline in a research report on Thursday, December 12th. They issued an “overweight” rating on the stock. Finally, Wells Fargo & Company downgraded Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Pembina Pipeline presently has a consensus rating of “Hold” and an average price target of $56.50.

Pembina Pipeline Stock Up 0.5 %

PBA stock opened at $36.95 on Wednesday. Pembina Pipeline Co. has a fifty-two week low of $32.81 and a fifty-two week high of $43.44. The company has a market capitalization of $21.45 billion, a price-to-earnings ratio of 15.27 and a beta of 1.24. The business’s 50 day moving average price is $40.12 and its two-hundred day moving average price is $39.67. 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 Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were issued a $0.69 dividend. This is an increase from Pembina Pipeline’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.76 dividend on an annualized basis and a yield of 7.47%. Pembina Pipeline’s dividend payout ratio is 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.