PCJ Investment Counsel Ltd. Reduces Stock Position in Pembina Pipeline Co. (NYSE:PBA)

PCJ Investment Counsel Ltd. lessened its stake in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 5.0% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 27,520 shares of the pipeline company’s stock after selling 1,450 shares during the period. PCJ Investment Counsel Ltd.’s holdings in Pembina Pipeline were worth $1,134,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of PBA. Godsey & Gibb Inc. acquired a new position in shares of Pembina Pipeline in the 3rd quarter valued at about $25,000. Prospera Private Wealth LLC acquired a new position in shares of Pembina Pipeline in the 3rd quarter valued at about $26,000. Blue Trust Inc. lifted its holdings 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 buying an additional 508 shares during the period. CENTRAL TRUST Co lifted its holdings in shares of Pembina Pipeline by 65.0% in the 3rd quarter. CENTRAL TRUST Co now owns 825 shares of the pipeline company’s stock valued at $34,000 after buying an additional 325 shares during the period. Finally, Beacon Capital Management LLC acquired a new position in shares of Pembina Pipeline in the 1st quarter valued at about $37,000. Institutional investors and hedge funds own 55.37% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Citigroup upped their price target on Pembina Pipeline from $53.00 to $56.00 and gave the stock a “neutral” rating in a report on Wednesday, August 28th. Raymond James assumed coverage on Pembina Pipeline in a report on Friday, October 11th. They issued an “outperform” rating for the company. Finally, UBS Group assumed coverage on Pembina Pipeline in a report on Wednesday, September 11th. They issued a “neutral” rating for the company. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $56.50.

Pembina Pipeline Price Performance

Shares of Pembina Pipeline stock opened at $42.42 on Wednesday. The business has a 50 day simple moving average of $41.80 and a two-hundred day simple moving average of $39.21. Pembina Pipeline Co. has a 12 month low of $32.10 and a 12 month high of $43.44. The stock has a market capitalization of $24.62 billion, a P/E ratio of 17.53 and a beta of 1.25. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.65 and a quick ratio of 0.51.

Pembina Pipeline Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be issued a dividend of $0.69 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 6.51%. This is a boost from Pembina Pipeline’s previous quarterly dividend of $0.50. Pembina Pipeline’s dividend payout ratio is presently 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.