Pembina Pipeline Co. (NYSE:PBA) Shares Sold by Wexford Capital LP

Wexford Capital LP lessened its holdings in shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 67.8% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,488 shares of the pipeline company’s stock after selling 15,778 shares during the quarter. Wexford Capital LP’s holdings in Pembina Pipeline were worth $309,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Kingsview Wealth Management LLC grew its stake in Pembina Pipeline by 4.1% during the 3rd quarter. Kingsview Wealth Management LLC now owns 6,947 shares of the pipeline company’s stock worth $286,000 after buying an additional 273 shares during the last quarter. CENTRAL TRUST Co lifted its holdings in shares of Pembina Pipeline by 65.0% in the third 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. Oppenheimer Asset Management Inc. raised its holdings in shares of Pembina Pipeline by 1.8% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 18,675 shares of the pipeline company’s stock worth $770,000 after purchasing an additional 334 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Pembina Pipeline by 30.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,668 shares of the pipeline company’s stock worth $65,000 after acquiring an additional 387 shares during the last quarter. Finally, Gold Investment Management Ltd. raised its holdings in shares of Pembina Pipeline by 4.2% during the third quarter. Gold Investment Management Ltd. now owns 11,001 shares of the pipeline company’s stock valued at $453,000 after acquiring an additional 439 shares during the period. Hedge funds and other institutional investors own 55.37% of the company’s stock.

Pembina Pipeline Trading Down 2.8 %

Shares of NYSE:PBA opened at $39.44 on Friday. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.65 and a quick ratio of 0.51. The company’s 50-day moving average price is $41.93 and its two-hundred day moving average price is $39.56. The stock has a market capitalization of $22.90 billion, a PE ratio of 16.30 and a beta of 1.24. Pembina Pipeline Co. has a one year low of $32.39 and a one year high of $43.44.

Pembina Pipeline Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be issued a dividend of $0.69 per share. This is a boost from Pembina Pipeline’s previous quarterly dividend of $0.50. This represents a $2.76 annualized dividend and a yield of 7.00%. The ex-dividend date of this dividend is Monday, December 16th. Pembina Pipeline’s dividend payout ratio (DPR) is presently 84.30%.

Analyst Ratings Changes

PBA has been the topic of several research reports. Citigroup upped their price objective on shares of Pembina Pipeline from $53.00 to $56.00 and gave the company a “neutral” rating in a research note on Wednesday, August 28th. Raymond James assumed coverage on shares of Pembina Pipeline in a report on Friday, October 11th. They set an “outperform” rating for the company. Finally, UBS Group initiated coverage on shares of Pembina Pipeline in a report on Wednesday, September 11th. They issued a “neutral” rating for the company. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Pembina Pipeline currently has a consensus rating of “Hold” and an average price target of $56.50.

Pembina Pipeline 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.