Pembina Pipeline Co. (NYSE:PBA) Short Interest Update

Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) was the recipient of a large growth in short interest in March. As of March 15th, there was short interest totalling 22,840,000 shares, a growth of 86.9% from the February 28th total of 12,220,000 shares. Based on an average trading volume of 1,550,000 shares, the days-to-cover ratio is currently 14.7 days. Currently, 3.9% of the shares of the stock are short sold.

Pembina Pipeline Stock Up 0.1 %

PBA stock opened at $39.91 on Monday. Pembina Pipeline has a one year low of $33.83 and a one year high of $43.44. The stock has a market capitalization of $23.17 billion, a P/E ratio of 16.49 and a beta of 1.26. The company has a 50 day moving average price of $37.59 and a two-hundred day moving average price of $39.28. 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 Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be paid a $0.4783 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.91 annualized dividend and a yield of 4.79%. Pembina Pipeline’s payout ratio is currently 86.76%.

Hedge Funds Weigh In On Pembina Pipeline

Several large investors have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Pembina Pipeline by 10.8% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 16,358 shares of the pipeline company’s stock worth $604,000 after acquiring an additional 1,601 shares during the period. Mackenzie Financial Corp raised its stake in Pembina Pipeline by 10.6% during the fourth quarter. Mackenzie Financial Corp now owns 13,930,847 shares of the pipeline company’s stock worth $514,154,000 after purchasing an additional 1,331,294 shares during the period. Public Employees Retirement System of Ohio boosted its holdings in shares of Pembina Pipeline by 140.8% in the 4th quarter. Public Employees Retirement System of Ohio now owns 122,237 shares of the pipeline company’s stock valued at $4,515,000 after purchasing an additional 71,482 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of Pembina Pipeline by 1,591.4% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 3,155,558 shares of the pipeline company’s stock valued at $116,440,000 after buying an additional 2,968,994 shares during the period. Finally, USS Investment Management Ltd grew its stake in shares of Pembina Pipeline by 54.9% during the 4th quarter. USS Investment Management Ltd now owns 110,640 shares of the pipeline company’s stock valued at $4,084,000 after buying an additional 39,206 shares during the period. 55.37% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Citigroup raised shares of Pembina Pipeline from a “neutral” rating to a “buy” rating in a report on Monday, March 10th. TD Securities began coverage on Pembina Pipeline in a research note on Wednesday, January 15th. They issued a “buy” rating on the stock. Barclays began coverage on Pembina Pipeline in a research report on Thursday, December 12th. They set an “overweight” rating for the company. Finally, Wells Fargo & Company downgraded Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $56.50.

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 2.9 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.