Van ECK Associates Corp Has $8.34 Million Position in Pembina Pipeline Co. (NYSE:PBA)

Van ECK Associates Corp increased its stake in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 8.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 225,684 shares of the pipeline company’s stock after purchasing an additional 16,762 shares during the quarter. Van ECK Associates Corp’s holdings in Pembina Pipeline were worth $8,335,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Kingsview Wealth Management LLC increased its position in Pembina Pipeline by 4.1% in the 3rd quarter. Kingsview Wealth Management LLC now owns 6,947 shares of the pipeline company’s stock worth $286,000 after buying an additional 273 shares during the period. MassMutual Private Wealth & Trust FSB increased its position in Pembina Pipeline by 11.7% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,935 shares of the pipeline company’s stock worth $108,000 after buying an additional 308 shares during the period. CENTRAL TRUST Co increased its position in Pembina Pipeline by 65.0% in the 3rd quarter. CENTRAL TRUST Co now owns 825 shares of the pipeline company’s stock worth $34,000 after buying an additional 325 shares during the period. Oppenheimer Asset Management Inc. increased its position in Pembina Pipeline by 1.8% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 18,675 shares of the pipeline company’s stock worth $770,000 after buying an additional 334 shares during the period. Finally, Gold Investment Management Ltd. increased its position in Pembina Pipeline by 4.2% in the 3rd quarter. Gold Investment Management Ltd. now owns 11,001 shares of the pipeline company’s stock worth $453,000 after buying an additional 439 shares during the period. 55.37% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on PBA. TD Securities began coverage on Pembina Pipeline in a research report on Wednesday, January 15th. They issued a “buy” rating on the stock. Barclays assumed coverage on Pembina Pipeline in a research report on Thursday, December 12th. They set an “overweight” rating on the stock. Finally, Wells Fargo & Company cut Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Five 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, Pembina Pipeline has an average rating of “Hold” and an average target price of $56.50.

Pembina Pipeline Stock Performance

Shares of NYSE:PBA opened at $36.20 on Monday. The business’s fifty day moving average price is $36.93 and its two-hundred day moving average price is $39.51. Pembina Pipeline Co. has a fifty-two week low of $33.36 and a fifty-two week high of $43.44. The stock has a market capitalization of $21.01 billion, a price-to-earnings ratio of 14.96 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.

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.