Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 40.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 247,615 shares of the pipeline company’s stock after purchasing an additional 70,729 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Pembina Pipeline were worth $8,668,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Catalyst Capital Advisors LLC increased its holdings in Pembina Pipeline by 36.9% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 202,584 shares of the pipeline company’s stock valued at $7,111,000 after purchasing an additional 54,652 shares in the last quarter. Check Capital Management Inc. CA increased its holdings in Pembina Pipeline by 100.0% in the 3rd quarter. Check Capital Management Inc. CA now owns 13,800 shares of the pipeline company’s stock valued at $484,000 after purchasing an additional 6,900 shares in the last quarter. Ninepoint Partners LP acquired a new stake in Pembina Pipeline in the 3rd quarter valued at $405,000. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Pembina Pipeline by 4.1% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,145,248 shares of the pipeline company’s stock valued at $40,163,000 after purchasing an additional 44,667 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Pembina Pipeline by 1.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 424,915 shares of the pipeline company’s stock valued at $14,915,000 after purchasing an additional 5,769 shares in the last quarter. Hedge funds and other institutional investors own 39.39% of the company’s stock.
Pembina Pipeline Corp. (PBA) traded up $0.39 during trading hours on Friday, reaching $35.24. 305,409 shares of the company’s stock were exchanged, compared to its average volume of 568,657. The company has a current ratio of 0.78, a quick ratio of 0.60 and a debt-to-equity ratio of 0.75. The stock has a market cap of $17,706.90, a PE ratio of 35.60 and a beta of 0.72. Pembina Pipeline Corp. has a one year low of $28.30 and a one year high of $36.29.
The company also recently disclosed a nov 17 dividend, which will be paid on Friday, December 15th. Shareholders of record on Saturday, November 25th will be given a $0.18 dividend. The ex-dividend date is Wednesday, November 22nd. This represents a yield of 4.73%. Pembina Pipeline’s payout ratio is currently 171.72%.
Several analysts recently issued reports on PBA shares. BidaskClub downgraded Pembina Pipeline from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. Zacks Investment Research downgraded Pembina Pipeline from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. Pembina Pipeline presently has an average rating of “Buy” and an average target price of $41.50.
Pembina Pipeline Profile
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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