PCJ Investment Counsel Ltd. Trims Stock Holdings in Pembina Pipeline Co. (NYSE:PBA)

PCJ Investment Counsel Ltd. decreased its stake in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 5.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,520 shares of the pipeline company’s stock after selling 1,450 shares during the quarter. PCJ Investment Counsel Ltd.’s holdings in Pembina Pipeline were worth $1,134,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of PBA. Godsey & Gibb Inc. bought a new position in shares of Pembina Pipeline in the third quarter worth about $25,000. Prospera Private Wealth LLC bought a new position in shares of Pembina Pipeline in the third quarter worth about $26,000. Blue Trust Inc. boosted its stake in shares of Pembina Pipeline by 223.8% in the third quarter. Blue Trust Inc. now owns 735 shares of the pipeline company’s stock worth $30,000 after acquiring an additional 508 shares during the period. CENTRAL TRUST Co boosted its stake in shares of Pembina Pipeline by 65.0% in the third quarter. CENTRAL TRUST Co now owns 825 shares of the pipeline company’s stock worth $34,000 after acquiring an additional 325 shares during the period. Finally, Beacon Capital Management LLC bought a new position in shares of Pembina Pipeline in the first quarter worth about $37,000. Hedge funds and other institutional investors own 55.37% of the company’s stock.

Pembina Pipeline Trading Up 1.5 %

PBA opened at $42.42 on Wednesday. The firm has a market cap of $24.62 billion, a price-to-earnings ratio of 17.53 and a beta of 1.25. The company has a current ratio of 0.65, a quick ratio of 0.51 and a debt-to-equity ratio of 0.79. Pembina Pipeline Co. has a 12 month low of $32.10 and a 12 month high of $43.44. The stock has a fifty day moving average price of $41.80 and a 200-day moving average price of $39.21.

Pembina Pipeline Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders 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 yield of 6.51%. The ex-dividend date of this dividend is Monday, December 16th. This is an increase from Pembina Pipeline’s previous quarterly dividend of $0.50. Pembina Pipeline’s payout ratio is presently 84.30%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. UBS Group assumed coverage on Pembina Pipeline in a research note on Wednesday, September 11th. They set a “neutral” rating for the company. Raymond James assumed coverage on Pembina Pipeline in a research note on Friday, October 11th. They set an “outperform” rating for the company. Finally, Citigroup increased their price target on Pembina Pipeline from $53.00 to $56.00 and gave the company a “neutral” rating in a research note on Wednesday, August 28th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Pembina Pipeline currently has an average rating of “Hold” and a consensus price target 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.