PCJ Investment Counsel Ltd. Increases Position in Pembina Pipeline Corp (NYSE:PBA)
PCJ Investment Counsel Ltd. raised its position in Pembina Pipeline Corp (NYSE:PBA) (TSE:PPL) by 38.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 71,266 shares of the pipeline company’s stock after purchasing an additional 19,716 shares during the period. PCJ Investment Counsel Ltd.’s holdings in Pembina Pipeline were worth $1,338,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Creative Planning lifted its stake in shares of Pembina Pipeline by 41.2% in the fourth quarter. Creative Planning now owns 38,734 shares of the pipeline company’s stock valued at $1,435,000 after purchasing an additional 11,304 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Pembina Pipeline by 3.3% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,838,327 shares of the pipeline company’s stock worth $68,176,000 after acquiring an additional 59,251 shares during the last quarter. Laurel Wealth Advisors LLC grew its position in Pembina Pipeline by 83.0% in the 4th quarter. Laurel Wealth Advisors LLC now owns 915 shares of the pipeline company’s stock valued at $34,000 after buying an additional 415 shares in the last quarter. First Mercantile Trust Co. acquired a new stake in Pembina Pipeline in the 4th quarter valued at about $353,000. Finally, Signition LP acquired a new stake in Pembina Pipeline in the 4th quarter valued at about $452,000. 56.66% of the stock is currently owned by hedge funds and other institutional investors.
NYSE PBA traded down $0.05 during trading on Wednesday, hitting $26.35. The stock had a trading volume of 64,247 shares, compared to its average volume of 1,168,709. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.51 and a current ratio of 0.61. The stock has a market capitalization of $14.04 billion, a price-to-earnings ratio of 13.55, a P/E/G ratio of 3.44 and a beta of 1.37. Pembina Pipeline Corp has a one year low of $10.58 and a one year high of $40.65. The stock has a 50 day simple moving average of $22.57 and a 200 day simple moving average of $30.50.
The business also recently declared a monthly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, May 25th will be paid a dividend of $0.151 per share. This represents a $1.81 annualized dividend and a dividend yield of 6.88%. The ex-dividend date is Friday, May 22nd. This is an increase from Pembina Pipeline’s previous monthly dividend of $0.15. Pembina Pipeline’s payout ratio is currently 90.50%.
Several equities analysts have commented on PBA shares. Wells Fargo & Co upgraded Pembina Pipeline from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $50.00 to $56.00 in a report on Monday, February 24th. Zacks Investment Research upgraded Pembina Pipeline from a “sell” rating to a “hold” rating in a report on Friday, April 10th. ValuEngine upgraded Pembina Pipeline from a “sell” rating to a “hold” rating in a research note on Friday, May 1st. Royal Bank of Canada upped their target price on Pembina Pipeline from $26.00 to $40.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. Finally, Canaccord Genuity reissued a “buy” rating on shares of Pembina Pipeline in a research note on Tuesday. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Pembina Pipeline presently has an average rating of “Buy” and an average price target of $50.00.
About Pembina Pipeline
Pembina Pipeline Corporation provides transportation and midstream services for the energy industry in North America. It operates through three divisions: Pipelines, Facilities, and Marketing & New Ventures. The Pipelines division operates conventional, transmission, and oil sands and heavy oil pipeline assets with a total capacity of 3 million barrels of oil serving markets and basins across North America through conventional, transmission, and oil sand pipelines assets.
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