PNC Financial Services Group Inc. Increases Stake in Pembina Pipeline Co. (NYSE:PBA)

PNC Financial Services Group Inc. raised its position in shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 1.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 22,903 shares of the pipeline company’s stock after purchasing an additional 348 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Pembina Pipeline were worth $846,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Prospera Private Wealth LLC bought a new stake in shares of Pembina Pipeline during the third quarter valued at approximately $26,000. Safe Harbor Fiduciary LLC purchased a new stake in Pembina Pipeline during the 3rd quarter valued at $26,000. Versant Capital Management Inc purchased a new position in shares of Pembina Pipeline in the fourth quarter worth $27,000. Sound Income Strategies LLC bought a new position in shares of Pembina Pipeline during the fourth quarter valued at $27,000. Finally, Dunhill Financial LLC bought a new position in shares of Pembina Pipeline during the third quarter valued at $28,000. 55.37% of the stock is owned by hedge funds and other institutional investors.

Pembina Pipeline Stock Up 0.1 %

Shares of PBA stock opened at $39.02 on Tuesday. The company has a current ratio of 0.65, a quick ratio of 0.51 and a debt-to-equity ratio of 0.79. Pembina Pipeline Co. has a 12 month low of $33.83 and a 12 month high of $43.44. The stock has a market cap of $22.65 billion, a P/E ratio of 16.12 and a beta of 1.26. The company has a 50 day simple moving average of $37.05 and a two-hundred day simple moving average of $39.32.

Pembina Pipeline Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be issued a $0.4783 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.91 dividend on an annualized basis and a yield of 4.90%. Pembina Pipeline’s dividend payout ratio is currently 86.76%.

Wall Street Analyst Weigh In

PBA has been the subject of a number of recent analyst reports. Barclays initiated coverage on Pembina Pipeline in a research report on Thursday, December 12th. They issued an “overweight” rating for the company. Citigroup raised shares of Pembina Pipeline from a “neutral” rating to a “buy” rating in a report on Monday, March 10th. TD Securities started coverage on shares of Pembina Pipeline in a research report on Wednesday, January 15th. They issued a “buy” rating for the company. Finally, Wells Fargo & Company lowered shares of Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Pembina Pipeline presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.50.

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.