Bard Associates Inc. decreased its stake in Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 9.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,692 shares of the pipeline company’s stock after selling 5,410 shares during the period. Bard Associates Inc.’s holdings in Pembina Pipeline Corp. were worth $1,734,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Norges Bank acquired a new stake in Pembina Pipeline Corp. during the fourth quarter valued at approximately $83,870,000. Jarislowsky Fraser Ltd increased its position in shares of Pembina Pipeline Corp. by 12.9% in the fourth quarter. Jarislowsky Fraser Ltd now owns 10,171,877 shares of the pipeline company’s stock valued at $318,266,000 after buying an additional 1,165,449 shares in the last quarter. Kayne Anderson Capital Advisors LP bought a new position in Pembina Pipeline Corp. during the first quarter valued at $18,384,000. Vanguard Group Inc. boosted its position in Pembina Pipeline Corp. by 5.3% in the first quarter. Vanguard Group Inc. now owns 9,479,317 shares of the pipeline company’s stock valued at $300,589,000 after buying an additional 474,863 shares during the last quarter. Finally, Scotia Capital Inc. boosted its position in Pembina Pipeline Corp. by 17.3% in the fourth quarter. Scotia Capital Inc. now owns 2,458,301 shares of the pipeline company’s stock valued at $76,695,000 after buying an additional 363,322 shares during the last quarter. 45.89% of the stock is currently owned by institutional investors and hedge funds.
Pembina Pipeline Corp. (NYSE:PBA) traded down 2.67% during mid-day trading on Tuesday, hitting $32.14. 347,862 shares of the stock were exchanged. Pembina Pipeline Corp. has a 12-month low of $27.44 and a 12-month high of $33.56. The company has a 50 day moving average of $32.25 and a 200 day moving average of $31.90. The firm has a market cap of $12.89 billion, a P/E ratio of 33.65 and a beta of 0.67.
The company also recently declared a jun 17 dividend, which will be paid on Saturday, July 15th. Shareholders of record on Sunday, June 25th will be issued a $0.17 dividend. The ex-dividend date is Wednesday, June 21st. This represents a yield of 4.61%. Pembina Pipeline Corp.’s dividend payout ratio (DPR) is 153.61%.
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A number of research firms have weighed in on PBA. Zacks Investment Research lowered shares of Pembina Pipeline Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, May 23rd. AltaCorp Capital reiterated an “outperform” rating on shares of Pembina Pipeline Corp. in a research report on Wednesday, May 3rd. National Bank Financial upgraded shares of Pembina Pipeline Corp. from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, May 2nd. Finally, Desjardins lowered shares of Pembina Pipeline Corp. from a “top pick” rating to a “buy” rating in a research report on Monday, February 27th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Pembina Pipeline Corp. has a consensus rating of “Buy” and an average price target of $42.50.
About Pembina Pipeline Corp.
Pembina Pipeline Corporation is an energy transportation and service provider. The Company operates through four segments. The Conventional Pipelines segment consists of the tariff-based operations of pipelines and related facilities to deliver crude oil, condensate and natural gas liquids (NGL) in Alberta, British Columbia, Saskatchewan, and North Dakota, United States.
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