Choreo LLC Cuts Stock Position in Pembina Pipeline Co. (NYSE:PBA)

Choreo LLC trimmed its holdings in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 30.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,977 shares of the pipeline company’s stock after selling 2,996 shares during the period. Choreo LLC’s holdings in Pembina Pipeline were worth $259,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in PBA. Godsey & Gibb Inc. purchased a new position in Pembina Pipeline in the 3rd quarter worth approximately $25,000. Prospera Private Wealth LLC purchased a new position in shares of Pembina Pipeline in the third quarter worth $26,000. Safe Harbor Fiduciary LLC purchased a new position in shares of Pembina Pipeline in the third quarter worth $26,000. Versant Capital Management Inc bought a new position in shares of Pembina Pipeline during the fourth quarter worth $27,000. Finally, Sound Income Strategies LLC purchased a new position in Pembina Pipeline during the fourth quarter valued at $27,000. Institutional investors own 55.37% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on PBA shares. Wells Fargo & Company cut shares of Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Barclays began coverage on Pembina Pipeline in a research note on Thursday, December 12th. They set an “overweight” rating for the company. Finally, TD Securities assumed coverage on Pembina Pipeline in a research note on Wednesday, January 15th. They issued a “buy” rating on the stock. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $56.50.

Pembina Pipeline Stock Down 1.9 %

Shares of NYSE:PBA opened at $36.20 on Friday. The company has a 50-day moving average price of $37.00 and a 200 day moving average price of $39.51. 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 $33.36 and a 12 month high of $43.44. The company has a market cap of $21.01 billion, a price-to-earnings ratio of 14.96 and a beta of 1.25.

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.