Acorn Wealth Advisors LLC Sells 357 Shares of Pembina Pipeline Co. (NYSE:PBA)

Acorn Wealth Advisors LLC trimmed its holdings in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 4.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,424 shares of the pipeline company’s stock after selling 357 shares during the period. Acorn Wealth Advisors LLC’s holdings in Pembina Pipeline were worth $347,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in PBA. Godsey & Gibb Inc. bought a new position in Pembina Pipeline in the third quarter valued at approximately $25,000. Prospera Private Wealth LLC acquired a new stake in shares of Pembina Pipeline in the 3rd quarter valued at $26,000. Blue Trust Inc. increased its stake in shares of Pembina Pipeline by 223.8% in the 3rd quarter. Blue Trust Inc. now owns 735 shares of the pipeline company’s stock valued at $30,000 after purchasing an additional 508 shares during the last quarter. CENTRAL TRUST Co lifted its position in shares of Pembina Pipeline by 65.0% during the 3rd quarter. CENTRAL TRUST Co now owns 825 shares of the pipeline company’s stock worth $34,000 after buying an additional 325 shares during the last quarter. Finally, Beacon Capital Management LLC acquired a new stake in Pembina Pipeline in the first quarter valued at about $37,000. 55.37% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on PBA shares. Raymond James started coverage on shares of Pembina Pipeline in a report on Friday, October 11th. They issued an “outperform” rating for the company. Citigroup increased their price objective on shares of Pembina Pipeline from $53.00 to $56.00 and gave the company a “neutral” rating in a research note on Wednesday, August 28th. Finally, UBS Group initiated coverage on shares of Pembina Pipeline in a research note on Wednesday, September 11th. They set a “neutral” rating on the stock. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $56.50.

Pembina Pipeline Trading Down 0.9 %

NYSE:PBA traded down $0.37 during mid-day trading on Monday, hitting $42.56. 49,572 shares of the company’s stock were exchanged, compared to its average volume of 1,105,746. 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 fifty-two week low of $32.39 and a fifty-two week high of $43.44. The company has a 50 day simple moving average of $41.92 and a 200-day simple moving average of $39.35. The firm has a market capitalization of $24.71 billion, a P/E ratio of 17.74 and a beta of 1.25.

Pembina Pipeline Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be paid a $0.69 dividend. This is a boost from Pembina Pipeline’s previous quarterly dividend of $0.50. The ex-dividend date is Monday, December 16th. This represents a $2.76 annualized dividend and a dividend yield of 6.48%. Pembina Pipeline’s payout ratio is currently 84.30%.

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.