Massachusetts Financial Services Co. MA Lowers Stake in Pembina Pipeline Co. (NYSE:PBA)

Massachusetts Financial Services Co. MA decreased its holdings in shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 1.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 805,011 shares of the pipeline company’s stock after selling 14,191 shares during the period. Massachusetts Financial Services Co. MA owned 0.14% of Pembina Pipeline worth $29,745,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Versant Capital Management Inc purchased a new position in Pembina Pipeline during the fourth quarter valued at $27,000. Sound Income Strategies LLC purchased a new position in shares of Pembina Pipeline in the 4th quarter worth about $27,000. Dunhill Financial LLC bought a new position in Pembina Pipeline in the 3rd quarter worth about $28,000. Eastern Bank purchased a new stake in Pembina Pipeline during the 4th quarter valued at about $29,000. Finally, Principal Securities Inc. increased its stake in Pembina Pipeline by 2,597.1% during the 4th quarter. Principal Securities Inc. now owns 917 shares of the pipeline company’s stock valued at $34,000 after purchasing an additional 883 shares in the last quarter. 55.37% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Barclays initiated coverage on shares of Pembina Pipeline in a report on Thursday, December 12th. They set an “overweight” rating on the stock. TD Securities started coverage on Pembina Pipeline in a research note on Wednesday, January 15th. They set a “buy” rating on the stock. Wells Fargo & Company cut Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Finally, Citigroup raised Pembina Pipeline from a “neutral” rating to a “buy” rating in a research report on Monday, March 10th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $56.50.

Pembina Pipeline Stock Performance

Shares of NYSE:PBA opened at $37.17 on Monday. The stock has a market capitalization of $21.58 billion, a P/E ratio of 15.36 and a beta of 0.89. The company has a quick ratio of 0.51, a current ratio of 0.65 and a debt-to-equity ratio of 0.79. The firm has a fifty day simple moving average of $37.84 and a two-hundred day simple moving average of $39.25. Pembina Pipeline Co. has a 52 week low of $33.83 and a 52 week high of $43.44.

Pembina Pipeline Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were given a $0.4783 dividend. This represents a $1.91 annualized dividend and a yield of 5.15%. The ex-dividend date of this dividend was Monday, March 17th. Pembina Pipeline’s dividend payout ratio (DPR) is presently 86.76%.

Pembina Pipeline 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.