Principal Securities Inc. Raises Position in Pembina Pipeline Co. (NYSE:PBA)

Principal Securities Inc. boosted its holdings in shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 2,597.1% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 917 shares of the pipeline company’s stock after buying an additional 883 shares during the period. Principal Securities Inc.’s holdings in Pembina Pipeline were worth $34,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. CIBC Asset Management Inc raised its position in shares of Pembina Pipeline by 8.1% during the 3rd quarter. CIBC Asset Management Inc now owns 6,405,991 shares of the pipeline company’s stock valued at $264,315,000 after buying an additional 481,285 shares in the last quarter. Kayne Anderson Capital Advisors LP increased its stake in Pembina Pipeline by 15.3% in the third quarter. Kayne Anderson Capital Advisors LP now owns 4,155,198 shares of the pipeline company’s stock valued at $171,360,000 after acquiring an additional 550,491 shares during the last quarter. JPMorgan Chase & Co. raised its position in Pembina Pipeline by 18.2% during the third quarter. JPMorgan Chase & Co. now owns 4,049,470 shares of the pipeline company’s stock valued at $167,000,000 after purchasing an additional 624,958 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Pembina Pipeline by 71.6% during the third quarter. The Manufacturers Life Insurance Company now owns 3,163,711 shares of the pipeline company’s stock worth $130,501,000 after purchasing an additional 1,319,709 shares during the last quarter. Finally, Cardinal Capital Management Inc. boosted its holdings in shares of Pembina Pipeline by 1.3% in the 4th quarter. Cardinal Capital Management Inc. now owns 2,920,900 shares of the pipeline company’s stock worth $107,675,000 after purchasing an additional 37,595 shares in the last quarter. 55.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PBA. Wells Fargo & Company lowered shares of Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Barclays initiated coverage on shares of Pembina Pipeline in a research note on Thursday, December 12th. They issued an “overweight” rating for the company. Finally, TD Securities assumed coverage on Pembina Pipeline in a research note on Wednesday, January 15th. They set a “buy” rating on the stock. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $56.50.

Pembina Pipeline Price Performance

PBA opened at $38.86 on Friday. The firm has a market cap of $22.56 billion, a PE ratio of 16.06 and a beta of 1.25. The stock has a 50-day moving average price of $36.70 and a 200-day moving average price of $39.38. Pembina Pipeline Co. has a 1 year low of $33.83 and a 1 year high of $43.44. 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 Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be issued a $0.4783 dividend. This represents a $1.91 dividend on an annualized basis and a dividend yield of 4.92%. The ex-dividend date is Monday, March 17th. Pembina Pipeline’s payout ratio is 80.58%.

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.