CIBC Asset Management Inc Cuts Position in Pembina Pipeline Co. (NYSE:PBA)

CIBC Asset Management Inc cut its stake in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 8.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,885,576 shares of the pipeline company’s stock after selling 520,415 shares during the period. CIBC Asset Management Inc owned approximately 1.01% of Pembina Pipeline worth $217,122,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of PBA. Godsey & Gibb Inc. purchased a new position in Pembina Pipeline in the 3rd quarter valued at approximately $25,000. Prospera Private Wealth LLC purchased a new position in shares of Pembina Pipeline during the 3rd quarter worth approximately $26,000. Safe Harbor Fiduciary LLC acquired a new stake in Pembina Pipeline during the 3rd quarter valued at $26,000. Versant Capital Management Inc purchased a new stake in shares of Pembina Pipeline in the fourth quarter valued at $27,000. Finally, Sound Income Strategies LLC purchased a new stake in Pembina Pipeline during the 4th quarter worth about $27,000. 55.37% of the stock is currently owned by institutional investors and hedge funds.

Pembina Pipeline Price Performance

Shares of NYSE PBA opened at $36.20 on Monday. The company has a market capitalization of $21.01 billion, a price-to-earnings ratio of 14.96 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 $33.36 and a 1-year high of $43.44. The business has a 50-day moving average of $36.93 and a 200-day moving average of $39.51.

Wall Street Analyst Weigh In

Several research firms have issued reports on PBA. Barclays began coverage on shares of Pembina Pipeline in a research note on Thursday, December 12th. They set an “overweight” rating on the stock. TD Securities assumed coverage on Pembina Pipeline in a research note on Wednesday, January 15th. They issued a “buy” rating on the stock. Finally, Wells Fargo & Company lowered shares of Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price 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.