Rare Infrastructure Ltd Raises Position in Pembina Pipeline Corp (PBA)

Rare Infrastructure Ltd increased its stake in shares of Pembina Pipeline Corp (NYSE:PBA) (TSE:PPL) by 39.8% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 12,228 shares of the pipeline company’s stock after buying an additional 3,480 shares during the period. Pembina Pipeline makes up 0.0% of Rare Infrastructure Ltd’s holdings, making the stock its 21st biggest holding. Rare Infrastructure Ltd’s holdings in Pembina Pipeline were worth $441,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Jarislowsky Fraser Ltd lifted its position in Pembina Pipeline by 0.7% during the 3rd quarter. Jarislowsky Fraser Ltd now owns 12,372,878 shares of the pipeline company’s stock worth $433,122,000 after buying an additional 91,095 shares in the last quarter. Mackenzie Financial Corp lifted its position in Pembina Pipeline by 34.8% during the 4th quarter. Mackenzie Financial Corp now owns 8,894,527 shares of the pipeline company’s stock worth $321,804,000 after buying an additional 2,294,315 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its position in Pembina Pipeline by 0.5% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 8,542,990 shares of the pipeline company’s stock valued at $310,301,000 after purchasing an additional 45,977 shares during the period. CIBC Asset Management Inc lifted its position in Pembina Pipeline by 1.0% during the 4th quarter. CIBC Asset Management Inc now owns 7,170,276 shares of the pipeline company’s stock valued at $260,690,000 after purchasing an additional 69,532 shares during the period. Finally, TD Asset Management Inc. lifted its position in Pembina Pipeline by 4.0% during the 3rd quarter. TD Asset Management Inc. now owns 5,845,179 shares of the pipeline company’s stock valued at $204,615,000 after purchasing an additional 226,004 shares during the period. Institutional investors and hedge funds own 48.40% of the company’s stock.

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Pembina Pipeline Corp (NYSE:PBA) opened at $32.39 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.75 and a debt-to-equity ratio of 0.64. Pembina Pipeline Corp has a 52-week low of $30.17 and a 52-week high of $36.99. The stock has a market cap of $16,075.92, a PE ratio of 22.81 and a beta of 0.69.

The firm also recently announced a feb 18 dividend, which will be paid on Thursday, March 15th. Shareholders of record on Sunday, February 25th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, February 22nd. This represents a yield of 0.00560224089635854%. Pembina Pipeline’s payout ratio is presently 121.13%.

A number of research firms have issued reports on PBA. Macquarie downgraded shares of Pembina Pipeline from an “outperform” rating to a “neutral” rating in a research report on Wednesday, November 29th. Zacks Investment Research downgraded shares of Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $39.00.

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About Pembina Pipeline

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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Institutional Ownership by Quarter for Pembina Pipeline (NYSE:PBA)

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