Zurcher Kantonalbank Zurich Cantonalbank Buys 3,655 Shares of Pembina Pipeline Co. (NYSE:PBA)

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 2.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 140,443 shares of the pipeline company’s stock after acquiring an additional 3,655 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Pembina Pipeline were worth $5,186,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in PBA. Kingsview Wealth Management LLC grew its position in shares of Pembina Pipeline by 4.1% in 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 grew its holdings in Pembina Pipeline by 11.7% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,935 shares of the pipeline company’s stock valued at $108,000 after buying an additional 308 shares during the last quarter. Oppenheimer Asset Management Inc. increased its position in Pembina Pipeline by 1.8% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 18,675 shares of the pipeline company’s stock worth $770,000 after buying an additional 334 shares during the period. PNC Financial Services Group Inc. increased its position in Pembina Pipeline by 1.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 22,903 shares of the pipeline company’s stock worth $846,000 after buying an additional 348 shares during the period. Finally, MONECO Advisors LLC lifted its holdings in shares of Pembina Pipeline by 9.9% during the fourth quarter. MONECO Advisors LLC now owns 5,954 shares of the pipeline company’s stock worth $220,000 after buying an additional 537 shares during the last quarter. Institutional investors and hedge funds own 55.37% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Barclays started coverage on shares of Pembina Pipeline in a research note on Thursday, December 12th. They issued an “overweight” rating on the stock. TD Securities began coverage on shares of Pembina Pipeline in a report on Wednesday, January 15th. They set a “buy” rating on the stock. Wells Fargo & Company lowered shares of Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Finally, Citigroup raised Pembina Pipeline from a “neutral” rating to a “buy” rating in a research report on Monday, March 10th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Pembina Pipeline has a consensus rating of “Moderate Buy” and an average price target of $56.50.

Pembina Pipeline Price Performance

Shares of PBA stock opened at $39.00 on Friday. The stock’s fifty day simple moving average is $37.00 and its 200 day simple moving average is $39.34. Pembina Pipeline Co. has a one year low of $33.83 and a one year high of $43.44. The firm has a market cap of $22.64 billion, a price-to-earnings ratio of 16.12 and a beta of 1.26. 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 Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be issued a $0.4783 dividend. This represents a $1.91 annualized dividend and a dividend yield of 4.90%. The ex-dividend date is Monday, March 17th. Pembina Pipeline’s payout ratio is 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.