Amundi Grows Position in Pembina Pipeline Co. (NYSE:PBA)

Amundi increased its holdings in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 1.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,623,945 shares of the pipeline company’s stock after acquiring an additional 44,036 shares during the quarter. Amundi owned approximately 0.45% of Pembina Pipeline worth $97,007,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in PBA. US Bancorp DE lifted its stake in Pembina Pipeline by 22.0% in the third quarter. US Bancorp DE now owns 11,161 shares of the pipeline company’s stock worth $460,000 after acquiring an additional 2,014 shares during the period. Entropy Technologies LP bought a new position in Pembina Pipeline in the third quarter worth about $961,000. Cumberland Partners Ltd raised its holdings in Pembina Pipeline by 1.6% in the third quarter. Cumberland Partners Ltd now owns 95,847 shares of the pipeline company’s stock worth $3,955,000 after purchasing an additional 1,464 shares in the last quarter. Oppenheimer Asset Management Inc. raised its holdings 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 worth $770,000 after purchasing an additional 334 shares in the last quarter. Finally, Oppenheimer & Co. Inc. bought a new position in Pembina Pipeline in the third quarter worth about $284,000. 55.37% of the stock is owned by hedge funds and other institutional investors.

Pembina Pipeline Stock Performance

PBA opened at $38.52 on Tuesday. Pembina Pipeline Co. has a 52-week low of $33.83 and a 52-week high of $43.44. The company has a quick ratio of 0.51, a current ratio of 0.65 and a debt-to-equity ratio of 0.79. The company has a market cap of $22.36 billion, a P/E ratio of 15.92 and a beta of 1.26. The firm’s 50-day moving average price is $36.87 and its 200-day moving average price is $39.37.

Pembina Pipeline Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be issued a dividend of $0.4783 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.91 annualized dividend and a dividend yield of 4.97%. Pembina Pipeline’s dividend payout ratio (DPR) is currently 86.76%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Citigroup upgraded shares of Pembina Pipeline from a “neutral” rating to a “buy” rating in a report on Monday. TD Securities assumed coverage on shares of Pembina Pipeline in a report on Wednesday, January 15th. They issued a “buy” rating for the company. Barclays assumed coverage on shares of Pembina Pipeline in a report on Thursday, December 12th. They issued an “overweight” rating for the company. Finally, Wells Fargo & Company downgraded shares of Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.50.

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.