Raymond James Financial Inc. Purchases Shares of 76,634 Pembina Pipeline Co. (NYSE:PBA)

Raymond James Financial Inc. acquired a new position in shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 76,634 shares of the pipeline company’s stock, valued at approximately $2,832,000.

A number of other institutional investors also recently modified their holdings of PBA. Van ECK Associates Corp increased 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 valued at $8,335,000 after purchasing an additional 16,762 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Pembina Pipeline by 18.2% in the third quarter. JPMorgan Chase & Co. now owns 4,049,470 shares of the pipeline company’s stock valued at $167,000,000 after buying an additional 624,958 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Pembina Pipeline by 1.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 22,903 shares of the pipeline company’s stock valued at $846,000 after buying an additional 348 shares during the last quarter. Jennison Associates LLC grew its holdings in Pembina Pipeline by 32.3% during the 4th 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 last quarter. Finally, Korea Investment CORP raised its stake in shares of Pembina Pipeline by 32.7% in the fourth quarter. Korea Investment CORP now owns 440,818 shares of the pipeline company’s stock worth $16,279,000 after acquiring an additional 108,529 shares during the last quarter. Institutional investors own 55.37% of the company’s stock.

Pembina Pipeline Price Performance

Shares of PBA stock opened at $38.83 on Tuesday. The firm’s 50 day moving average price is $38.07 and its two-hundred day moving average price is $38.68. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.51 and a current ratio of 0.65. Pembina Pipeline Co. has a 52-week low of $34.13 and a 52-week high of $43.44. The stock has a market cap of $22.56 billion, a PE ratio of 16.05 and a beta of 0.89.

Pembina Pipeline Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were paid a dividend of $0.4783 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $1.91 dividend on an annualized basis and a dividend yield of 4.93%. Pembina Pipeline’s dividend payout ratio (DPR) is presently 86.76%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. TD Securities began coverage on shares of Pembina Pipeline in a report on Wednesday, January 15th. They issued a “buy” rating for the company. Citigroup upgraded Pembina Pipeline from a “neutral” rating to a “buy” rating in a research report on Monday, March 10th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $56.00.

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.