Granite Group Advisors LLC Has $236,000 Position in Pembina Pipeline Co. (NYSE:PBA)

Granite Group Advisors LLC cut its holdings in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 4.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,389 shares of the pipeline company’s stock after selling 330 shares during the quarter. Granite Group Advisors LLC’s holdings in Pembina Pipeline were worth $236,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. CIBC Asset Management Inc increased its position in Pembina Pipeline by 8.1% in the 3rd quarter. CIBC Asset Management Inc now owns 6,405,991 shares of the pipeline company’s stock valued at $264,315,000 after acquiring an additional 481,285 shares in the last quarter. Kayne Anderson Capital Advisors LP increased its holdings in shares of Pembina Pipeline by 15.3% in the third quarter. Kayne Anderson Capital Advisors LP now owns 4,155,198 shares of the pipeline company’s stock valued at $171,360,000 after purchasing an additional 550,491 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Pembina Pipeline by 18.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,049,470 shares of the pipeline company’s stock worth $167,000,000 after buying an additional 624,958 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in Pembina Pipeline by 71.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 3,163,711 shares of the pipeline company’s stock valued at $130,501,000 after buying an additional 1,319,709 shares during the last quarter. Finally, Cardinal Capital Management Inc. increased its stake in shares of Pembina Pipeline by 1.3% in the 4th quarter. Cardinal Capital Management Inc. now owns 2,920,900 shares of the pipeline company’s stock valued at $107,675,000 after buying an additional 37,595 shares during the period. 55.37% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PBA has been the topic of several research reports. Wells Fargo & Company lowered Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Barclays began coverage on shares of Pembina Pipeline in a report on Thursday, December 12th. They set an “overweight” rating on the stock. TD Securities started coverage on Pembina Pipeline in a research note on Wednesday, January 15th. They issued a “buy” rating on the stock. Finally, Raymond James initiated coverage on Pembina Pipeline in a research report on Friday, October 11th. They issued an “outperform” rating on the stock. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $56.50.

Pembina Pipeline Stock Down 0.3 %

PBA opened at $37.07 on Monday. The stock has a fifty day moving average of $38.39 and a 200-day moving average of $39.66. The company has a market capitalization of $21.52 billion, a P/E ratio of 15.32 and a beta of 1.25. Pembina Pipeline Co. has a fifty-two week low of $32.81 and a fifty-two week high of $43.44. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.51 and a current ratio of 0.65.

Pembina Pipeline Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were issued a $0.69 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.76 dividend on an annualized basis and a yield of 7.44%. This is an increase from Pembina Pipeline’s previous quarterly dividend of $0.50. Pembina Pipeline’s payout ratio is currently 80.58%.

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.