PFG Investments LLC Sells 2,946 Shares of Pembina Pipeline Co. (NYSE:PBA)

PFG Investments LLC decreased its position in shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 20.1% during the 4th quarter, Holdings Channel reports. The institutional investor owned 11,676 shares of the pipeline company’s stock after selling 2,946 shares during the quarter. PFG Investments LLC’s holdings in Pembina Pipeline were worth $431,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its stake in shares of Pembina Pipeline by 19.1% in the fourth quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,675,327 shares of the pipeline company’s stock valued at $61,903,000 after acquiring an additional 269,062 shares in the last quarter. Sound Income Strategies LLC acquired a new position in shares of Pembina Pipeline during the 4th quarter worth approximately $27,000. Cardinal Capital Management Inc. increased its holdings in shares of Pembina Pipeline by 1.3% during the fourth quarter. Cardinal Capital Management Inc. now owns 2,920,900 shares of the pipeline company’s stock worth $107,675,000 after purchasing an additional 37,595 shares during the period. Crossmark Global Holdings Inc. raised its position in shares of Pembina Pipeline by 24.0% in the fourth quarter. Crossmark Global Holdings Inc. now owns 33,622 shares of the pipeline company’s stock valued at $1,242,000 after buying an additional 6,514 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in shares of Pembina Pipeline by 11.7% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,935 shares of the pipeline company’s stock valued at $108,000 after buying an additional 308 shares during the period. Institutional investors and hedge funds own 55.37% of the company’s stock.

Pembina Pipeline Stock Up 0.5 %

Shares of NYSE PBA opened at $36.84 on Friday. The company has a market cap of $21.39 billion, a price-to-earnings ratio of 15.22 and a beta of 1.25. The company has a current ratio of 0.65, a quick ratio of 0.51 and a debt-to-equity ratio of 0.79. Pembina Pipeline Co. has a 12 month low of $32.81 and a 12 month high of $43.44. The stock has a 50-day moving average price of $38.05 and a two-hundred day moving average price of $39.64.

Pembina Pipeline Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were given a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 7.49%. This is a boost from Pembina Pipeline’s previous quarterly dividend of $0.50. The ex-dividend date was Monday, December 16th. Pembina Pipeline’s dividend payout ratio is currently 80.58%.

Analyst Ratings Changes

Several brokerages have weighed in on PBA. TD Securities began coverage on Pembina Pipeline in a report on Wednesday, January 15th. They issued a “buy” rating for the company. Raymond James started coverage on Pembina Pipeline in a research note on Friday, October 11th. They issued an “outperform” rating for the company. Barclays started coverage on shares of Pembina Pipeline in a research note on Thursday, December 12th. They set an “overweight” rating on the stock. Finally, Wells Fargo & Company cut shares of Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $56.50.

About Pembina Pipeline

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.