Pembina Pipeline Co. (NYSE:PBA) Position Reduced by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. lowered its stake in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 21.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 9,427 shares of the pipeline company’s stock after selling 2,524 shares during the period. Brown Brothers Harriman & Co.’s holdings in Pembina Pipeline were worth $348,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Pictet Asset Management Holding SA increased its holdings in Pembina Pipeline by 1.2% in the fourth quarter. Pictet Asset Management Holding SA now owns 269,138 shares of the pipeline company’s stock valued at $9,939,000 after buying an additional 3,127 shares during the last quarter. Norges Bank bought a new stake in shares of Pembina Pipeline in the 4th quarter valued at approximately $171,860,000. Korea Investment CORP raised its position in shares of Pembina Pipeline by 32.7% during the 4th quarter. Korea Investment CORP now owns 440,818 shares of the pipeline company’s stock valued at $16,279,000 after acquiring an additional 108,529 shares in the last quarter. TD Asset Management Inc. lifted its stake in Pembina Pipeline by 5.4% during the fourth quarter. TD Asset Management Inc. now owns 6,789,722 shares of the pipeline company’s stock worth $250,732,000 after purchasing an additional 347,872 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Pembina Pipeline by 3.2% in the fourth quarter. Vanguard Group Inc. now owns 24,887,077 shares of the pipeline company’s stock worth $919,503,000 after purchasing an additional 770,729 shares during the period. Institutional investors and hedge funds own 55.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PBA. Wells Fargo & Company cut shares of Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. TD Securities began coverage on shares of Pembina Pipeline in a report on Wednesday, January 15th. They issued a “buy” rating on the stock. Barclays began coverage on Pembina Pipeline in a research note on Thursday, December 12th. They issued an “overweight” rating for the company. Finally, Citigroup upgraded Pembina Pipeline from a “neutral” rating to a “buy” rating in a research report on Monday, March 10th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $56.50.

Pembina Pipeline Price Performance

Shares of NYSE:PBA opened at $40.00 on Tuesday. The company has a current ratio of 0.65, a quick ratio of 0.51 and a debt-to-equity ratio of 0.79. The firm’s 50 day moving average is $37.65 and its two-hundred day moving average is $39.28. The firm has a market capitalization of $23.23 billion, a P/E ratio of 16.53 and a beta of 1.26. Pembina Pipeline Co. has a 52 week low of $33.83 and a 52 week high of $43.44.

Pembina Pipeline Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were paid a dividend of $0.4783 per share. This represents a $1.91 annualized dividend and a yield of 4.78%. The ex-dividend date was Monday, March 17th. Pembina Pipeline’s payout ratio is currently 86.76%.

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.