Commonwealth Equity Services LLC Reduces Stake in Pembina Pipeline Co. (NYSE:PBA)

Commonwealth Equity Services LLC reduced its stake in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 1.5% in the 4th quarter, Holdings Channel reports. The institutional investor owned 188,865 shares of the pipeline company’s stock after selling 2,791 shares during the period. Commonwealth Equity Services LLC’s holdings in Pembina Pipeline were worth $6,979,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in PBA. Kingsview Wealth Management LLC grew its holdings in shares of Pembina Pipeline by 4.1% during the 3rd quarter. Kingsview Wealth Management LLC now owns 6,947 shares of the pipeline company’s stock worth $286,000 after purchasing an additional 273 shares during the period. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Pembina Pipeline by 11.7% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,935 shares of the pipeline company’s stock worth $108,000 after purchasing an additional 308 shares during the period. PNC Financial Services Group Inc. grew its holdings in shares of Pembina Pipeline by 1.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 22,903 shares of the pipeline company’s stock worth $846,000 after purchasing an additional 348 shares during the period. MONECO Advisors LLC grew its holdings in shares of Pembina Pipeline by 9.9% during the 4th quarter. MONECO Advisors LLC now owns 5,954 shares of the pipeline company’s stock worth $220,000 after purchasing an additional 537 shares during the period. Finally, Larson Financial Group LLC grew its holdings in shares of Pembina Pipeline by 67.6% during the 3rd quarter. Larson Financial Group LLC now owns 1,341 shares of the pipeline company’s stock worth $55,000 after purchasing an additional 541 shares during the period. 55.37% of the stock is currently owned by hedge funds and other institutional investors.

Pembina Pipeline Stock Performance

Shares of Pembina Pipeline stock opened at $40.01 on Friday. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.65 and a quick ratio of 0.51. The stock has a market capitalization of $23.23 billion, a price-to-earnings ratio of 16.53 and a beta of 1.26. The business has a 50-day moving average of $37.21 and a 200 day moving average of $39.32. Pembina Pipeline Co. has a 12 month low of $33.83 and a 12 month high of $43.44.

Pembina Pipeline Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be given a $0.4783 dividend. This represents a $1.91 dividend on an annualized basis and a yield of 4.78%. The ex-dividend date is Monday, March 17th. Pembina Pipeline’s dividend payout ratio is currently 86.76%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PBA. Citigroup upgraded Pembina Pipeline from a “neutral” rating to a “buy” rating in a report on Monday, March 10th. Wells Fargo & Company cut Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Barclays assumed coverage on Pembina Pipeline in a report on Thursday, December 12th. They set an “overweight” rating for the company. Finally, TD Securities assumed coverage on Pembina Pipeline in a report on Wednesday, January 15th. They set a “buy” rating for the company. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Pembina Pipeline presently has an average rating of “Moderate Buy” and an average price target 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.