Pembina Pipeline Co. (NYSE:PBA) Shares Sold by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lessened its stake in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 69.7% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 186,564 shares of the pipeline company’s stock after selling 428,198 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Pembina Pipeline were worth $7,690,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Kingsview Wealth Management LLC lifted its stake in Pembina Pipeline by 4.1% in the third quarter. Kingsview Wealth Management LLC now owns 6,947 shares of the pipeline company’s stock worth $286,000 after acquiring an additional 273 shares during the last quarter. CENTRAL TRUST Co lifted its position in shares of Pembina Pipeline by 65.0% during the 3rd quarter. CENTRAL TRUST Co now owns 825 shares of the pipeline company’s stock worth $34,000 after purchasing an additional 325 shares during the last quarter. Oppenheimer Asset Management Inc. grew its stake in shares of Pembina Pipeline by 1.8% during the third quarter. Oppenheimer Asset Management Inc. now owns 18,675 shares of the pipeline company’s stock worth $770,000 after purchasing an additional 334 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in Pembina Pipeline by 30.2% in the second quarter. EverSource Wealth Advisors LLC now owns 1,668 shares of the pipeline company’s stock valued at $65,000 after buying an additional 387 shares during the last quarter. Finally, Gold Investment Management Ltd. raised its stake in Pembina Pipeline by 4.2% in the third quarter. Gold Investment Management Ltd. now owns 11,001 shares of the pipeline company’s stock valued at $453,000 after buying an additional 439 shares in the last quarter. 55.37% of the stock is owned by institutional investors and hedge funds.

Pembina Pipeline Stock Performance

Shares of Pembina Pipeline stock opened at $41.37 on Monday. The firm’s fifty day simple moving average is $42.00 and its 200-day simple moving average is $39.50. Pembina Pipeline Co. has a 12 month low of $32.39 and a 12 month high of $43.44. The stock has a market capitalization of $24.02 billion, a price-to-earnings ratio of 17.10 and a beta of 1.25. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.65 and a quick ratio of 0.51.

Pembina Pipeline Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be paid a dividend of $0.69 per share. This is an increase from Pembina Pipeline’s previous quarterly dividend of $0.50. The ex-dividend date is Monday, December 16th. This represents a $2.76 annualized dividend and a dividend yield of 6.67%. Pembina Pipeline’s dividend payout ratio is 84.30%.

Analyst Upgrades and Downgrades

PBA has been the subject of several recent analyst reports. Citigroup boosted their target price on Pembina Pipeline from $53.00 to $56.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 28th. UBS Group began coverage on shares of Pembina Pipeline in a research note on Wednesday, September 11th. They issued a “neutral” rating for the company. Finally, Raymond James began coverage on Pembina Pipeline in a report on Friday, October 11th. They set an “outperform” rating on the stock. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $56.50.

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.