Pembina Pipeline Corp. (PBA) Short Interest Down 61.6% in October
Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) was the target of a significant decrease in short interest in the month of October. As of October 31st, there was short interest totalling 1,817,401 shares, a decrease of 61.6% from the October 13th total of 4,737,007 shares. Currently, 0.4% of the company’s stock are short sold. Based on an average daily volume of 422,500 shares, the days-to-cover ratio is presently 4.3 days.
PBA has been the topic of a number of recent research reports. Zacks Investment Research cut shares of Pembina Pipeline Corp. from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 18th. AltaCorp Capital upgraded shares of Pembina Pipeline Corp. from a “sector perform” rating to an “outperform” rating in a report on Wednesday, July 19th. Finally, BidaskClub upgraded shares of Pembina Pipeline Corp. from a “hold” rating to a “buy” rating in a report on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $41.50.
Shares of Pembina Pipeline Corp. (NYSE:PBA) opened at $35.80 on Friday. Pembina Pipeline Corp. has a fifty-two week low of $27.44 and a fifty-two week high of $36.29. The company has a current ratio of 0.78, a quick ratio of 0.60 and a debt-to-equity ratio of 0.75. The company has a market cap of $17,988.28, a P/E ratio of 36.16 and a beta of 0.72.
The company also recently declared a nov 17 dividend, which will be paid on Friday, December 15th. Stockholders of record on Saturday, November 25th will be issued a dividend of $0.18 per share. This represents a dividend yield of 4.73%. The ex-dividend date of this dividend is Wednesday, November 22nd. Pembina Pipeline Corp.’s payout ratio is 174.75%.
Several large investors have recently bought and sold shares of PBA. CIBC Asset Management Inc grew its holdings in shares of Pembina Pipeline Corp. by 64.6% during the third quarter. CIBC Asset Management Inc now owns 7,100,744 shares of the pipeline company’s stock valued at $248,486,000 after buying an additional 2,787,001 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Pembina Pipeline Corp. by 133.4% during the second quarter. The Manufacturers Life Insurance Company now owns 3,121,883 shares of the pipeline company’s stock valued at $103,718,000 after buying an additional 1,784,451 shares during the last quarter. Duff & Phelps Investment Management Co. purchased a new stake in shares of Pembina Pipeline Corp. during the third quarter valued at approximately $41,290,000. Kayne Anderson Capital Advisors LP grew its holdings in shares of Pembina Pipeline Corp. by 199.6% during the second quarter. Kayne Anderson Capital Advisors LP now owns 1,737,700 shares of the pipeline company’s stock valued at $57,545,000 after buying an additional 1,157,700 shares during the last quarter. Finally, Jarislowsky Fraser Ltd grew its holdings in shares of Pembina Pipeline Corp. by 10.0% during the second quarter. Jarislowsky Fraser Ltd now owns 12,281,783 shares of the pipeline company’s stock valued at $406,177,000 after buying an additional 1,118,498 shares during the last quarter. Hedge funds and other institutional investors own 50.28% of the company’s stock.
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Pembina Pipeline Corp. Company Profile
Pembina Pipeline Corporation is an energy transportation and service provider. The Company operates through four segments. The Conventional Pipelines segment consists of the tariff-based operations of pipelines and related facilities to deliver crude oil, condensate and natural gas liquids (NGL) in Alberta, British Columbia, Saskatchewan, and North Dakota, United States.
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