HighPoint Advisor Group LLC Trims Stake in Pembina Pipeline Co. (NYSE:PBA)

HighPoint Advisor Group LLC reduced its holdings in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 1.7% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,832 shares of the pipeline company’s stock after selling 316 shares during the quarter. HighPoint Advisor Group LLC’s holdings in Pembina Pipeline were worth $658,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of PBA. Safe Harbor Fiduciary LLC bought a new position in shares of Pembina Pipeline in the third quarter worth approximately $26,000. Dunhill Financial LLC purchased a new position in Pembina Pipeline in the 3rd quarter worth approximately $28,000. Versant Capital Management Inc bought a new position in shares of Pembina Pipeline in the 4th quarter worth $27,000. Sound Income Strategies LLC purchased a new stake in shares of Pembina Pipeline during the 4th quarter valued at $27,000. Finally, Eastern Bank bought a new stake in shares of Pembina Pipeline during the 4th quarter worth $29,000. Hedge funds and other institutional investors own 55.37% of the company’s stock.

Pembina Pipeline Trading Up 1.2 %

NYSE PBA opened at $40.50 on Wednesday. The stock has a 50-day moving average of $37.70 and a 200-day moving average of $39.27. 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 1-year low of $33.83 and a 1-year high of $43.44. The firm has a market cap of $23.52 billion, a PE ratio of 16.74 and a beta of 1.26.

Pembina Pipeline Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were paid a dividend of $0.4783 per share. This represents a $1.91 dividend on an annualized basis and a dividend yield of 4.72%. The ex-dividend date of this dividend was Monday, March 17th. Pembina Pipeline’s dividend payout ratio (DPR) is presently 86.76%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Citigroup raised Pembina Pipeline from a “neutral” rating to a “buy” rating in a research note on Monday, March 10th. Barclays started coverage on Pembina Pipeline in a research report on Thursday, December 12th. They set an “overweight” rating on the stock. TD Securities initiated coverage on Pembina Pipeline in a research report on Wednesday, January 15th. They issued a “buy” rating for the company. Finally, Wells Fargo & Company cut shares of Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.