Ontario Teachers Pension Plan Board Sells 46,740 Shares of Pembina Pipeline Corp (NYSE:PBA)

Ontario Teachers Pension Plan Board reduced its stake in Pembina Pipeline Corp (NYSE:PBA) (TSE:PPL) by 14.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 269,175 shares of the pipeline company’s stock after selling 46,740 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Pembina Pipeline were worth $9,977,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of PBA. Samalin Investment Counsel LLC bought a new stake in shares of Pembina Pipeline in the fourth quarter valued at approximately $25,000. Laurel Wealth Advisors LLC lifted its stake in Pembina Pipeline by 83.0% during the fourth quarter. Laurel Wealth Advisors LLC now owns 915 shares of the pipeline company’s stock worth $34,000 after purchasing an additional 415 shares during the last quarter. JNBA Financial Advisors lifted its stake in Pembina Pipeline by 371.3% during the third quarter. JNBA Financial Advisors now owns 952 shares of the pipeline company’s stock worth $35,000 after purchasing an additional 750 shares during the last quarter. Webster Bank N. A. bought a new stake in Pembina Pipeline during the fourth quarter worth $42,000. Finally, Advisory Services Network LLC lifted its stake in Pembina Pipeline by 67.0% during the fourth quarter. Advisory Services Network LLC now owns 1,837 shares of the pipeline company’s stock worth $68,000 after purchasing an additional 737 shares during the last quarter. Institutional investors and hedge funds own 49.43% of the company’s stock.

PBA has been the subject of several recent analyst reports. Credit Suisse Group set a $58.00 target price on Pembina Pipeline and gave the stock a “buy” rating in a research note on Monday, October 21st. JPMorgan Chase & Co. initiated coverage on Pembina Pipeline in a research note on Tuesday, January 14th. They set an “overweight” rating and a $58.00 target price for the company. Zacks Investment Research upgraded Pembina Pipeline from a “sell” rating to a “hold” rating in a research note on Friday, January 17th. UBS Group initiated coverage on Pembina Pipeline in a research note on Monday, November 25th. They set a “neutral” rating and a $50.00 target price for the company. Finally, Wells Fargo & Co initiated coverage on Pembina Pipeline in a research note on Thursday, December 19th. They set an “equal weight” rating and a $50.00 target price for the company. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $52.00.

NYSE PBA traded down $0.04 on Tuesday, hitting $39.77. 743,592 shares of the company’s stock were exchanged, compared to its average volume of 993,018. The stock has a 50-day moving average of $38.35 and a 200-day moving average of $36.74. The company has a current ratio of 0.90, a quick ratio of 0.82 and a debt-to-equity ratio of 0.67. Pembina Pipeline Corp has a 52 week low of $34.23 and a 52 week high of $39.99. The stock has a market cap of $21.73 billion, a price-to-earnings ratio of 17.07, a P/E/G ratio of 4.25 and a beta of 0.71.

The company also recently declared a feb 20 dividend, which will be paid on Friday, March 13th. Stockholders of record on Tuesday, February 25th will be paid a $0.21 dividend. This represents a dividend yield of 4.9%. The ex-dividend date of this dividend is Monday, February 24th. Pembina Pipeline’s payout ratio is 109.60%.

Pembina Pipeline Profile

Pembina Pipeline Corporation provides transportation and midstream services for the energy industry in North America. It operates through three divisions: Pipelines, Facilities, and Marketing & New Ventures. The Pipelines division operates conventional, transmission, and oil sands and heavy oil pipeline assets with a total capacity of 3 million barrels of oil serving markets and basins across North America through conventional, transmission, and oil sand pipelines assets.

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

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