Mackenzie Financial Corp lowered its position in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 6.5% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 8,405,799 shares of the pipeline company’s stock after selling 580,424 shares during the quarter. Mackenzie Financial Corp owned about 1.53% of Pembina Pipeline worth $266,848,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently made changes to their positions in PBA. Tradewinds Capital Management LLC increased its holdings in Pembina Pipeline by 327.5% in the 2nd quarter. Tradewinds Capital Management LLC now owns 996 shares of the pipeline company’s stock worth $32,000 after acquiring an additional 763 shares during the last quarter. O Shaughnessy Asset Management LLC grew its holdings in Pembina Pipeline by 1,198.7% during the 2nd quarter. O Shaughnessy Asset Management LLC now owns 1,000 shares of the pipeline company’s stock valued at $32,000 after buying an additional 923 shares in the last quarter. QV Investors Inc. purchased a new position in Pembina Pipeline during the 2nd quarter valued at about $48,000. Eaton Vance Management purchased a new position in Pembina Pipeline during the 1st quarter valued at about $57,000. Finally, US Bancorp DE grew its holdings in Pembina Pipeline by 42.4% during the 2nd quarter. US Bancorp DE now owns 1,855 shares of the pipeline company’s stock valued at $59,000 after buying an additional 552 shares in the last quarter. 52.53% of the stock is owned by institutional investors.
Shares of PBA stock opened at $31.24 on Tuesday. The stock has a market cap of $17.18 billion, a price-to-earnings ratio of -46.62, a PEG ratio of 3.28 and a beta of 1.50. The business’s fifty day moving average is $31.50 and its 200 day moving average is $31.16. Pembina Pipeline Co. has a twelve month low of $20.09 and a twelve month high of $34.25. The company has a quick ratio of 0.52, a current ratio of 0.69 and a debt-to-equity ratio of 0.93.
The business also recently announced a monthly dividend, which will be paid on Friday, October 15th. Shareholders of record on Friday, September 24th will be issued a $0.166 dividend. This represents a $1.99 annualized dividend and a yield of 6.38%. The ex-dividend date is Thursday, September 23rd. Pembina Pipeline’s dividend payout ratio (DPR) is 136.73%.
PBA has been the subject of a number of research analyst reports. TD Securities initiated coverage on Pembina Pipeline in a research report on Tuesday, September 7th. They set a “buy” rating and a $43.00 price target for the company. Credit Suisse Group assumed coverage on Pembina Pipeline in a research report on Wednesday, August 18th. They issued a “neutral” rating for the company. Scotiabank boosted their target price on Pembina Pipeline from C$39.00 to C$42.00 and gave the stock a “sector perform” rating in a research report on Thursday, September 9th. CIBC upgraded Pembina Pipeline from a “neutral” rating to an “outperform” rating in a research report on Friday, June 18th. Finally, BMO Capital Markets assumed coverage on Pembina Pipeline in a research report on Wednesday, July 28th. They issued a “market perform” rating for the company. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $40.89.
About Pembina Pipeline
Pembina Pipeline Corp. engages in the provision of transportation and midstream services. It operates through the following segments: Pipelines, Facilities, Marketing and New Ventures, and Corporate. The Pipelines segment includes conventional, oil sands and transmission pipeline systems, crude oil storage and terminalling business and related infrastructure.
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