Pembina Pipeline Co. (NYSE:PBA) Shares Sold by Ingalls & Snyder LLC

Ingalls & Snyder LLC lessened its holdings in shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 0.7% during the 3rd quarter, Holdings Channel.com reports. The fund owned 36,378 shares of the pipeline company’s stock after selling 250 shares during the period. Ingalls & Snyder LLC’s holdings in Pembina Pipeline were worth $1,500,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in PBA. PDT Partners LLC purchased a new position in Pembina Pipeline in the third quarter valued at approximately $1,329,000. Cetera Advisors LLC grew its position in shares of Pembina Pipeline by 248.9% in the 1st quarter. Cetera Advisors LLC now owns 31,948 shares of the pipeline company’s stock valued at $1,129,000 after buying an additional 22,790 shares during the last quarter. Sequoia Financial Advisors LLC raised its stake in Pembina Pipeline by 7.2% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 12,767 shares of the pipeline company’s stock worth $527,000 after acquiring an additional 860 shares in the last quarter. Triasima Portfolio Management inc. lifted its position in Pembina Pipeline by 49.2% in the second quarter. Triasima Portfolio Management inc. now owns 784,516 shares of the pipeline company’s stock valued at $29,095,000 after acquiring an additional 258,575 shares during the last quarter. Finally, Cetera Investment Advisers boosted its stake in Pembina Pipeline by 105.1% in the first quarter. Cetera Investment Advisers now owns 48,237 shares of the pipeline company’s stock valued at $1,705,000 after acquiring an additional 24,717 shares in the last quarter. Hedge funds and other institutional investors own 55.37% of the company’s stock.

Pembina Pipeline Stock Performance

Shares of PBA stock opened at $40.17 on Wednesday. The stock’s 50-day moving average price is $41.96 and its 200 day moving average price is $39.55. 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 stock has a market capitalization of $23.32 billion, a PE ratio of 16.60 and a beta of 1.24. Pembina Pipeline Co. has a 52-week low of $32.39 and a 52-week high of $43.44.

Pembina Pipeline Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be paid a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 6.87%. The ex-dividend date of this dividend is Monday, December 16th. This is a boost from Pembina Pipeline’s previous quarterly dividend of $0.50. Pembina Pipeline’s dividend payout ratio is 84.30%.

Analyst Ratings Changes

PBA has been the topic of a number of research analyst reports. UBS Group assumed coverage on Pembina Pipeline in a research report on Wednesday, September 11th. They set a “neutral” rating on the stock. Citigroup boosted their price objective on Pembina Pipeline from $53.00 to $56.00 and gave the company a “neutral” rating in a research note on Wednesday, August 28th. Finally, Raymond James initiated coverage on shares of Pembina Pipeline in a research report on Friday, October 11th. They set an “outperform” rating on the stock. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Pembina Pipeline has a consensus rating of “Hold” and an average price target of $56.50.

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.