Granite Group Advisors LLC Sells 330 Shares of Pembina Pipeline Co. (NYSE:PBA)

Granite Group Advisors LLC trimmed its position in shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 4.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,389 shares of the pipeline company’s stock after selling 330 shares during the period. Granite Group Advisors LLC’s holdings in Pembina Pipeline were worth $236,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. CIBC Asset Management Inc boosted its position in shares of Pembina Pipeline by 8.1% during the 3rd quarter. CIBC Asset Management Inc now owns 6,405,991 shares of the pipeline company’s stock worth $264,315,000 after acquiring an additional 481,285 shares in the last quarter. Kayne Anderson Capital Advisors LP boosted its holdings in shares of Pembina Pipeline by 15.3% in the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 4,155,198 shares of the pipeline company’s stock valued at $171,360,000 after purchasing an additional 550,491 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Pembina Pipeline by 18.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,049,470 shares of the pipeline company’s stock valued at $167,000,000 after purchasing an additional 624,958 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Pembina Pipeline by 71.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 3,163,711 shares of the pipeline company’s stock worth $130,501,000 after buying an additional 1,319,709 shares in the last quarter. Finally, Cardinal Capital Management Inc. lifted its position in shares of Pembina Pipeline by 1.3% during the 4th quarter. Cardinal Capital Management Inc. now owns 2,920,900 shares of the pipeline company’s stock worth $107,675,000 after buying an additional 37,595 shares during the last quarter. 55.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PBA has been the topic of a number of recent analyst reports. TD Securities assumed coverage on Pembina Pipeline in a research report on Wednesday, January 15th. They issued a “buy” rating on the stock. Raymond James initiated coverage on shares of Pembina Pipeline in a report on Friday, October 11th. They set an “outperform” rating on the stock. Barclays initiated coverage on shares of Pembina Pipeline in a research report on Thursday, December 12th. They set an “overweight” rating for the company. Finally, Wells Fargo & Company lowered shares of Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Pembina Pipeline has an average rating of “Hold” and a consensus target price of $56.50.

Pembina Pipeline Price Performance

PBA stock opened at $37.07 on Monday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.51 and a current ratio of 0.65. Pembina Pipeline Co. has a 52-week low of $32.81 and a 52-week high of $43.44. The company has a market capitalization of $21.52 billion, a P/E ratio of 15.32 and a beta of 1.25. The company has a fifty day moving average price of $38.39 and a 200-day moving average price of $39.66.

Pembina Pipeline Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were issued a dividend of $0.69 per share. The ex-dividend date of this dividend was Monday, December 16th. This is an increase from Pembina Pipeline’s previous quarterly dividend of $0.50. This represents a $2.76 annualized dividend and a yield of 7.44%. Pembina Pipeline’s payout ratio is presently 80.58%.

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.