Baskin Financial Services Inc. Sells 6,400 Shares of Pembina Pipeline Co. (NYSE:PBA)

Baskin Financial Services Inc. decreased its stake in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 3.3% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 188,898 shares of the pipeline company’s stock after selling 6,400 shares during the quarter. Baskin Financial Services Inc.’s holdings in Pembina Pipeline were worth $6,975,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Godsey & Gibb Inc. purchased a new stake in Pembina Pipeline during the third quarter valued at about $25,000. Safe Harbor Fiduciary LLC bought a new position in shares of Pembina Pipeline during the 3rd quarter valued at about $26,000. Prospera Private Wealth LLC purchased a new position in shares of Pembina Pipeline during the 3rd quarter valued at about $26,000. Dunhill Financial LLC bought a new stake in Pembina Pipeline in the 3rd quarter worth approximately $28,000. Finally, Versant Capital Management Inc purchased a new stake in Pembina Pipeline in the fourth quarter worth approximately $27,000. Hedge funds and other institutional investors own 55.37% of the company’s stock.

Analyst Upgrades and Downgrades

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

Pembina Pipeline Stock Down 2.1 %

NYSE PBA opened at $36.09 on Monday. The business’s 50-day moving average is $37.79 and its 200 day moving average is $39.63. The stock has a market capitalization of $20.95 billion, a PE ratio of 14.91 and a beta of 1.25. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.65 and a quick ratio of 0.51. Pembina Pipeline Co. has a 1 year low of $32.81 and a 1 year high of $43.44.

Pembina Pipeline Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were paid a dividend of $0.69 per share. The ex-dividend date was Monday, December 16th. This is a boost from Pembina Pipeline’s previous quarterly dividend of $0.50. This represents a $2.76 annualized dividend and a dividend yield of 7.65%. Pembina Pipeline’s payout ratio is 80.58%.

Pembina Pipeline Company 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.