Envestnet Asset Management Inc. Has $11.41 Million Position in Pembina Pipeline Co. (NYSE:PBA)

Envestnet Asset Management Inc. lifted its position in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 5.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 308,872 shares of the pipeline company’s stock after acquiring an additional 15,002 shares during the period. Envestnet Asset Management Inc. owned approximately 0.05% of Pembina Pipeline worth $11,413,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Pembina Pipeline by 3.2% in the fourth quarter. Vanguard Group Inc. now owns 24,887,077 shares of the pipeline company’s stock worth $919,503,000 after purchasing an additional 770,729 shares during the period. TD Asset Management Inc. increased its position in shares of Pembina Pipeline by 5.4% in the 4th quarter. TD Asset Management Inc. now owns 6,789,722 shares of the pipeline company’s stock valued at $250,732,000 after buying an additional 347,872 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Pembina Pipeline by 0.5% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,249,624 shares of the pipeline company’s stock worth $230,610,000 after acquiring an additional 32,519 shares in the last quarter. Norges Bank acquired a new position in Pembina Pipeline in the fourth quarter valued at about $171,860,000. Finally, JPMorgan Chase & Co. increased its holdings 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 worth $167,000,000 after acquiring an additional 624,958 shares in the last quarter. Institutional investors own 55.37% of the company’s stock.

Analyst Ratings Changes

PBA has been the topic of several recent analyst reports. TD Securities began coverage on Pembina Pipeline in a report on Wednesday, January 15th. They set a “buy” rating on the stock. Citigroup raised shares of 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 stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $56.50.

Pembina Pipeline Stock Up 1.5 %

Shares of PBA stock opened at $37.96 on Friday. Pembina Pipeline Co. has a 1 year low of $34.13 and a 1 year high of $43.44. The firm has a market capitalization of $22.04 billion, a P/E ratio of 15.69 and a beta of 0.89. 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’s fifty day moving average price is $37.82 and its two-hundred day moving average price is $38.93.

Pembina Pipeline Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were paid a $0.4783 dividend. The ex-dividend date was Monday, March 17th. This represents a $1.91 annualized dividend and a yield of 5.04%. Pembina Pipeline’s dividend payout ratio is 86.76%.

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.