Wells Fargo & Company MN Raises Stock Holdings in Pembina Pipeline Co. (NYSE:PBA)

Wells Fargo & Company MN increased its stake in shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 4.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 215,118 shares of the pipeline company’s stock after purchasing an additional 9,325 shares during the quarter. Wells Fargo & Company MN’s holdings in Pembina Pipeline were worth $7,949,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in PBA. Sound Income Strategies LLC acquired a new stake in shares of Pembina Pipeline during the 4th quarter worth about $27,000. Versant Capital Management Inc purchased a new position in shares of Pembina Pipeline during the fourth quarter valued at approximately $27,000. Eastern Bank acquired a new stake in Pembina Pipeline during the fourth quarter worth approximately $29,000. Principal Securities Inc. grew its stake in Pembina Pipeline by 2,597.1% in the 4th quarter. Principal Securities Inc. now owns 917 shares of the pipeline company’s stock worth $34,000 after acquiring an additional 883 shares during the period. Finally, Venturi Wealth Management LLC grew its stake in Pembina Pipeline by 880.0% in the 4th quarter. Venturi Wealth Management LLC now owns 980 shares of the pipeline company’s stock worth $36,000 after acquiring an additional 880 shares during the period. Institutional investors and hedge funds own 55.37% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. TD Securities began coverage on Pembina Pipeline in a report on Wednesday, January 15th. They set a “buy” rating on the stock. Citigroup raised Pembina Pipeline from a “neutral” rating to a “buy” rating in a research note on Monday, March 10th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $56.50.

Pembina Pipeline Trading Up 1.5 %

Shares of PBA opened at $37.96 on Friday. The stock’s fifty day simple moving average is $37.82 and its 200 day simple moving average is $38.93. Pembina Pipeline Co. has a twelve month low of $34.13 and a twelve month high of $43.44. The company has a current ratio of 0.65, a quick ratio of 0.51 and a debt-to-equity ratio of 0.79. The firm has a market capitalization of $22.04 billion, a P/E ratio of 15.69 and a beta of 0.89.

Pembina Pipeline Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were given a dividend of $0.4783 per share. This represents a $1.91 dividend on an annualized basis and a yield of 5.04%. The ex-dividend date was Monday, March 17th. Pembina Pipeline’s dividend payout ratio (DPR) is presently 86.76%.

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.