Midwest Professional Planners LTD. Takes $612,000 Position in Pembina Pipeline Co. (NYSE:PBA)

Midwest Professional Planners LTD. purchased a new stake in shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) during the 4th quarter, Holdings Channel.com reports. The fund purchased 16,571 shares of the pipeline company’s stock, valued at approximately $612,000.

Several other hedge funds have also modified their holdings of the stock. Kingsview Wealth Management LLC grew its stake in shares of Pembina Pipeline by 4.1% during the third quarter. Kingsview Wealth Management LLC now owns 6,947 shares of the pipeline company’s stock valued at $286,000 after purchasing an additional 273 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in Pembina Pipeline by 11.7% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,935 shares of the pipeline company’s stock valued at $108,000 after acquiring an additional 308 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its stake in Pembina Pipeline by 1.8% in the third quarter. Oppenheimer Asset Management Inc. now owns 18,675 shares of the pipeline company’s stock valued at $770,000 after acquiring an additional 334 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in Pembina Pipeline by 1.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 22,903 shares of the pipeline company’s stock valued at $846,000 after acquiring an additional 348 shares during the last quarter. Finally, MONECO Advisors LLC boosted its stake in Pembina Pipeline by 9.9% in the fourth quarter. MONECO Advisors LLC now owns 5,954 shares of the pipeline company’s stock valued at $220,000 after acquiring an additional 537 shares during the last quarter. 55.37% of the stock is owned by institutional investors.

Pembina Pipeline Trading Down 0.5 %

PBA opened at $38.54 on Friday. The firm’s fifty day moving average is $36.96 and its two-hundred day moving average is $39.35. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.51 and a current ratio of 0.65. The firm has a market cap of $22.37 billion, a PE ratio of 15.92 and a beta of 1.26. Pembina Pipeline Co. has a twelve month low of $33.83 and a twelve month high of $43.44.

Pembina Pipeline Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be issued a $0.4783 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.91 annualized dividend and a yield of 4.96%. Pembina Pipeline’s dividend payout ratio (DPR) is presently 86.76%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PBA. Citigroup raised shares of Pembina Pipeline from a “neutral” rating to a “buy” rating in a research note on Monday. TD Securities began coverage on shares of Pembina Pipeline in a research note on Wednesday, January 15th. They issued a “buy” rating on the stock. Barclays began coverage on shares of Pembina Pipeline in a research note on Thursday, December 12th. They issued an “overweight” rating on the stock. Finally, Wells Fargo & Company cut shares of Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.50.

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.