Corient Private Wealth LLC Buys 16,293 Shares of Pembina Pipeline Co. (NYSE:PBA)

Corient Private Wealth LLC increased its position in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 87.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,007 shares of the pipeline company’s stock after buying an additional 16,293 shares during the period. Corient Private Wealth LLC’s holdings in Pembina Pipeline were worth $1,299,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Safe Harbor Fiduciary LLC acquired a new stake in Pembina Pipeline in the third quarter valued at approximately $26,000. Versant Capital Management Inc acquired a new stake in Pembina Pipeline in the 4th quarter valued at $27,000. Sound Income Strategies LLC acquired a new stake in Pembina Pipeline in the 4th quarter valued at $27,000. Dunhill Financial LLC bought a new stake in Pembina Pipeline during the 3rd quarter valued at $28,000. Finally, Eastern Bank acquired a new position in Pembina Pipeline during the fourth quarter worth $29,000. 55.37% of the stock is owned by institutional investors.

Pembina Pipeline Price Performance

Shares of NYSE PBA opened at $40.10 on Wednesday. The company has a market capitalization of $23.28 billion, a PE ratio of 16.57 and a beta of 1.26. The company has a quick ratio of 0.51, a current ratio of 0.65 and a debt-to-equity ratio of 0.79. The stock’s 50 day moving average price is $37.43 and its 200-day moving average price is $39.30. Pembina Pipeline Co. has a twelve month low of $33.83 and a twelve month high of $43.44.

Pembina Pipeline Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be given a dividend of $0.4783 per share. This represents a $1.91 annualized dividend and a dividend yield of 4.77%. The ex-dividend date is Monday, March 17th. Pembina Pipeline’s dividend payout ratio is presently 86.76%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on PBA shares. Barclays assumed coverage on shares of Pembina Pipeline in a report on Thursday, December 12th. They set an “overweight” rating for the company. Wells Fargo & Company downgraded Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Citigroup raised Pembina Pipeline from a “neutral” rating to a “buy” rating in a research note on Monday, March 10th. Finally, TD Securities began coverage on Pembina Pipeline in a research report on Wednesday, January 15th. They set a “buy” rating on the stock. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.