Mitsubishi UFJ Trust & Banking Corp cut its holdings in shares of Pembina Pipeline Co. (NYSE:PBA – Free Report) (TSE:PPL) by 81.1% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,937 shares of the pipeline company’s stock after selling 8,320 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Pembina Pipeline were worth $61,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Mirabella Financial Services LLP acquired a new stake in Pembina Pipeline in the second quarter valued at approximately $2,666,000. McClarren Financial Advisors Inc. acquired a new stake in Pembina Pipeline in the 2nd quarter valued at $28,000. Kayne Anderson Capital Advisors LP grew its stake in Pembina Pipeline by 11.4% in the 2nd quarter. Kayne Anderson Capital Advisors LP now owns 2,656,291 shares of the pipeline company’s stock valued at $83,514,000 after acquiring an additional 271,057 shares during the period. Envestnet Asset Management Inc. increased its holdings in Pembina Pipeline by 2.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 206,516 shares of the pipeline company’s stock worth $6,493,000 after acquiring an additional 4,388 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in Pembina Pipeline by 146.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,459 shares of the pipeline company’s stock worth $46,000 after acquiring an additional 867 shares during the period. Hedge funds and other institutional investors own 53.86% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research analysts recently weighed in on the stock. TD Securities reduced their price target on shares of Pembina Pipeline from C$54.00 to C$50.00 in a research report on Tuesday, August 8th. Credit Suisse Group decreased their target price on Pembina Pipeline from C$52.00 to C$51.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 16th. BMO Capital Markets dropped their price target on Pembina Pipeline from C$54.00 to C$50.00 in a research report on Friday, August 4th. TheStreet downgraded Pembina Pipeline from a “b-” rating to a “c” rating in a research note on Thursday, November 2nd. Finally, StockNews.com assumed coverage on shares of Pembina Pipeline in a report on Thursday, October 5th. They set a “hold” rating for the company. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Pembina Pipeline presently has a consensus rating of “Moderate Buy” and an average price target of $49.86.
Pembina Pipeline Trading Up 2.0 %
Shares of PBA stock opened at $32.43 on Monday. Pembina Pipeline Co. has a twelve month low of $28.15 and a twelve month high of $36.93. The stock has a market cap of $17.81 billion, a price-to-earnings ratio of 20.14, a PEG ratio of 5.31 and a beta of 1.27. The company’s 50-day moving average price is $30.74 and its 200-day moving average price is $30.98. The company has a current ratio of 0.68, a quick ratio of 0.50 and a debt-to-equity ratio of 0.74.
Pembina Pipeline Cuts Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be issued a dividend of $0.481 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 5.93%. Pembina Pipeline’s dividend payout ratio is currently 122.98%.
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 2.8 millions of barrels of oil equivalent per day, the ground storage capacity of 11 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.
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