Pembina Pipeline Co. (NYSE:PBA) Shares Sold by CIBC Asset Management Inc

CIBC Asset Management Inc decreased its position in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 8.1% in the 4th quarter, according to the company in its most recent filing 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 quarter. CIBC Asset Management Inc’s holdings in Pembina Pipeline were worth $217,122,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Catalyst Capital Advisors LLC raised its stake in Pembina Pipeline by 8.0% during the fourth quarter. Catalyst Capital Advisors LLC now owns 377,260 shares of the pipeline company’s stock worth $13,940,000 after acquiring an additional 27,866 shares during the period. Tcfg Wealth Management LLC acquired a new stake in Pembina Pipeline in the fourth quarter worth $310,000. Allworth Financial LP lifted its stake in Pembina Pipeline by 84.5% in the fourth quarter. Allworth Financial LP now owns 3,175 shares of the pipeline company’s stock valued at $118,000 after buying an additional 1,454 shares during the last quarter. Principal Securities Inc. grew its position in shares of Pembina Pipeline by 2,597.1% during the fourth quarter. Principal Securities Inc. now owns 917 shares of the pipeline company’s stock worth $34,000 after acquiring an additional 883 shares during the last quarter. Finally, Van ECK Associates Corp lifted its position in Pembina Pipeline by 8.0% in the 4th quarter. Van ECK Associates Corp now owns 225,684 shares of the pipeline company’s stock valued at $8,335,000 after purchasing an additional 16,762 shares during the last quarter. 55.37% of the stock is owned by institutional investors and hedge funds.

Pembina Pipeline Stock Performance

PBA opened at $36.20 on Monday. 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 firm has a market cap of $21.01 billion, a PE ratio of 14.96 and a beta of 1.25. The business has a fifty day simple moving average of $36.93 and a 200-day simple moving average of $39.51. Pembina Pipeline Co. has a fifty-two week low of $33.36 and a fifty-two week high of $43.44.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PBA. Wells Fargo & Company cut Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. TD Securities started coverage on shares of Pembina Pipeline in a report on Wednesday, January 15th. They issued a “buy” rating for the company. Finally, Barclays began coverage on shares of Pembina Pipeline in a research note on Thursday, December 12th. They set an “overweight” rating on the stock. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price 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.