CIBC Private Wealth Group LLC Buys 3,256 Shares of Pembina Pipeline Co. (NYSE:PBA)

CIBC Private Wealth Group LLC grew its stake in shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 1.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 284,829 shares of the pipeline company’s stock after purchasing an additional 3,256 shares during the period. CIBC Private Wealth Group LLC’s holdings in Pembina Pipeline were worth $10,530,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Pembina Pipeline by 11.7% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,935 shares of the pipeline company’s stock worth $108,000 after acquiring an additional 308 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of Pembina Pipeline by 1.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 22,903 shares of the pipeline company’s stock valued at $846,000 after purchasing an additional 348 shares in the last quarter. MONECO Advisors LLC grew 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 worth $220,000 after purchasing an additional 537 shares during the period. Safe Harbor Fiduciary LLC bought a new position in Pembina Pipeline in the third quarter worth $26,000. Finally, JCIC Asset Management Inc. lifted its position in Pembina Pipeline by 16.1% during the fourth quarter. JCIC Asset Management Inc. now owns 4,808 shares of the pipeline company’s stock valued at $178,000 after buying an additional 668 shares during the period. Hedge funds and other institutional investors own 55.37% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Pembina Pipeline Price Performance

Shares of PBA opened at $40.00 on Tuesday. Pembina Pipeline Co. has a twelve month low of $33.83 and a twelve month high of $43.44. The company has a market capitalization of $23.23 billion, a P/E ratio of 16.53 and a beta of 1.26. The firm has a 50 day moving average of $37.65 and a 200 day moving average of $39.28. The company has a quick ratio of 0.51, a current ratio of 0.65 and a debt-to-equity ratio of 0.79.

Pembina Pipeline Cuts Dividend

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

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.