JPMorgan Chase & Co. Sells 307,189 Shares of Pembina Pipeline Co. (NYSE:PBA)

JPMorgan Chase & Co. lowered its holdings in shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 7.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,742,281 shares of the pipeline company’s stock after selling 307,189 shares during the quarter. JPMorgan Chase & Co.’s holdings in Pembina Pipeline were worth $138,277,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Van ECK Associates Corp raised its holdings in Pembina Pipeline by 8.0% during the 4th quarter. Van ECK Associates Corp now owns 225,684 shares of the pipeline company’s stock worth $8,335,000 after buying an additional 16,762 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of Pembina Pipeline by 1.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 22,903 shares of the pipeline company’s stock worth $846,000 after acquiring an additional 348 shares during the period. Jennison Associates LLC raised its holdings in shares of Pembina Pipeline by 32.3% during the fourth quarter. Jennison Associates LLC now owns 616,992 shares of the pipeline company’s stock worth $22,786,000 after acquiring an additional 150,689 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in Pembina Pipeline by 0.5% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,249,624 shares of the pipeline company’s stock valued at $230,610,000 after acquiring an additional 32,519 shares in the last quarter. Finally, FMR LLC boosted its stake in Pembina Pipeline by 1,396.8% in the 3rd quarter. FMR LLC now owns 547,448 shares of the pipeline company’s stock worth $22,573,000 after purchasing an additional 510,873 shares during the period. Institutional investors and hedge funds own 55.37% of the company’s stock.

Pembina Pipeline Trading Up 1.2 %

PBA stock opened at $40.50 on Wednesday. Pembina Pipeline Co. has a 52 week low of $33.83 and a 52 week high of $43.44. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.51 and a current ratio of 0.65. The company’s 50-day simple moving average is $37.70 and its 200 day simple moving average is $39.27. The company has a market capitalization of $23.52 billion, a PE ratio of 16.74 and a beta of 1.26.

Pembina Pipeline Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were issued a dividend of $0.4783 per share. The ex-dividend date was Monday, March 17th. This represents a $1.91 annualized dividend and a dividend yield of 4.72%. Pembina Pipeline’s dividend payout ratio is presently 86.76%.

Analysts Set New Price Targets

A number of analysts have recently commented on PBA shares. Citigroup upgraded Pembina Pipeline from a “neutral” rating to a “buy” rating in a report on Monday, March 10th. Barclays started coverage on Pembina Pipeline in a research report on Thursday, December 12th. They set an “overweight” rating for the company. Wells Fargo & Company lowered shares of Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Finally, TD Securities initiated coverage on shares of Pembina Pipeline in a research note on Wednesday, January 15th. They issued a “buy” rating on the stock. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Pembina Pipeline has a consensus rating of “Moderate Buy” 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.