Aviva PLC Acquires 26,235 Shares of Pembina Pipeline Co. (NYSE:PBA)

Aviva PLC lifted its stake in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 8.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 347,244 shares of the pipeline company’s stock after acquiring an additional 26,235 shares during the period. Aviva PLC owned approximately 0.06% of Pembina Pipeline worth $12,804,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in Pembina Pipeline by 3.2% in the 4th quarter. Vanguard Group Inc. now owns 24,887,077 shares of the pipeline company’s stock worth $919,503,000 after purchasing an additional 770,729 shares during the period. TD Asset Management Inc. boosted its position in shares of Pembina Pipeline by 5.4% in the fourth quarter. TD Asset Management Inc. now owns 6,789,722 shares of the pipeline company’s stock valued at $250,732,000 after acquiring an additional 347,872 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its stake in Pembina Pipeline by 0.5% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,249,624 shares of the pipeline company’s stock valued at $230,610,000 after acquiring an additional 32,519 shares in the last quarter. Norges Bank bought a new stake in Pembina Pipeline during the 4th quarter worth approximately $171,860,000. Finally, JPMorgan Chase & Co. lifted its stake in Pembina Pipeline by 18.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,049,470 shares of the pipeline company’s stock worth $167,000,000 after purchasing an additional 624,958 shares in the last quarter. 55.37% of the stock is currently owned by hedge funds and other institutional investors.

Pembina Pipeline Stock Performance

Shares of NYSE PBA opened at $36.39 on Tuesday. The stock has a market cap of $21.13 billion, a price-to-earnings ratio of 15.04 and a beta of 0.89. The stock’s 50-day moving average is $37.83 and its 200 day moving average is $39.22. The company has a current ratio of 0.65, a quick ratio of 0.51 and a debt-to-equity ratio of 0.79. Pembina Pipeline Co. has a 1-year low of $33.83 and a 1-year high of $43.44.

Pembina Pipeline Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were issued a $0.4783 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $1.91 dividend on an annualized basis and a dividend yield of 5.26%. Pembina Pipeline’s payout ratio is 86.76%.

Wall Street Analysts Forecast Growth

PBA has been the topic of several research analyst reports. TD Securities started coverage on shares of Pembina Pipeline in a report on Wednesday, January 15th. They issued a “buy” rating on the stock. Citigroup upgraded Pembina Pipeline from a “neutral” rating to a “buy” rating in a research report on Monday, March 10th. Barclays began coverage on Pembina Pipeline in a report on Thursday, December 12th. They set an “overweight” rating for the company. Finally, Wells Fargo & Company lowered shares of Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Pembina Pipeline currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.50.

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.