Brave Asset Management Inc. Lowers Position in Pembina Pipeline Corp (PBA)
Brave Asset Management Inc. lowered its stake in Pembina Pipeline Corp (NYSE:PBA) (TSE:PPL) by 41.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,373 shares of the pipeline company’s stock after selling 5,125 shares during the period. Brave Asset Management Inc.’s holdings in Pembina Pipeline were worth $259,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of the stock. Dimensional Fund Advisors LP grew its holdings in shares of Pembina Pipeline by 46.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 157,625 shares of the pipeline company’s stock valued at $4,998,000 after buying an additional 49,720 shares during the period. Acadian Asset Management LLC acquired a new position in shares of Pembina Pipeline in the 2nd quarter valued at $1,041,000. Rothschild Asset Management Inc. acquired a new position in shares of Pembina Pipeline in the 2nd quarter valued at $608,000. World Asset Management Inc acquired a new position in shares of Pembina Pipeline in the 2nd quarter valued at $782,000. Finally, Sei Investments Co. grew its holdings in shares of Pembina Pipeline by 0.5% in the 2nd quarter. Sei Investments Co. now owns 24,708 shares of the pipeline company’s stock valued at $818,000 after buying an additional 125 shares during the period. 42.45% of the stock is owned by institutional investors and hedge funds.
Several brokerages have recently issued reports on PBA. Macquarie lowered shares of Pembina Pipeline from an “outperform” rating to a “neutral” rating in a report on Wednesday, November 29th. Zacks Investment Research lowered shares of Pembina Pipeline from a “hold” rating to a “sell” rating in a report on Wednesday, November 29th. Finally, BidaskClub cut shares of Pembina Pipeline from a “sell” rating to a “strong sell” rating in a research report on Monday, August 14th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. Pembina Pipeline has a consensus rating of “Hold” and an average price target of $41.50.
Pembina Pipeline Corp (NYSE:PBA) traded down $0.30 on Tuesday, reaching $34.83. 581,500 shares of the company traded hands, compared to its average volume of 373,109. The company has a market cap of $17,500.00, a PE ratio of 35.49 and a beta of 0.74. Pembina Pipeline Corp has a 1-year low of $29.36 and a 1-year high of $36.29. The company has a quick ratio of 0.60, a current ratio of 0.78 and a debt-to-equity ratio of 0.75.
The business also recently disclosed a nov 17 dividend, which will be paid on Friday, December 15th. Investors of record on Saturday, November 25th will be given a $0.18 dividend. The ex-dividend date of this dividend is Wednesday, November 22nd. This represents a yield of 4.73%. Pembina Pipeline’s dividend payout ratio is currently 171.72%.
About Pembina Pipeline
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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