Glassy Mountain Advisors Inc. purchased a new stake in shares of Pembina Pipeline Co. (NYSE:PBA – Get Rating) (TSE:PPL) during the fourth quarter, HoldingsChannel reports. The fund purchased 2,065 shares of the pipeline company’s stock, valued at approximately $70,000.
A number of other hedge funds also recently bought and sold shares of PBA. Phocas Financial Corp. bought a new position in Pembina Pipeline during the fourth quarter valued at $32,000. EdgeRock Capital LLC bought a new position in Pembina Pipeline during the third quarter valued at $41,000. Tobam increased its position in Pembina Pipeline by 232.9% during the third quarter. Tobam now owns 3,106 shares of the pipeline company’s stock valued at $95,000 after acquiring an additional 2,173 shares during the last quarter. M&R Capital Management Inc. increased its position in Pembina Pipeline by 23.9% during the third quarter. M&R Capital Management Inc. now owns 3,530 shares of the pipeline company’s stock valued at $107,000 after acquiring an additional 680 shares during the last quarter. Finally, Chilton Capital Management LLC bought a new position in Pembina Pipeline during the second quarter valued at $138,000. Hedge funds and other institutional investors own 55.08% of the company’s stock.
Wall Street Analyst Weigh In
A number of research firms have weighed in on PBA. Scotiabank boosted their price objective on shares of Pembina Pipeline from C$50.00 to C$51.00 in a research report on Monday, February 27th. Credit Suisse Group cut shares of Pembina Pipeline from an “outperform” rating to a “neutral” rating in a report on Friday, December 9th. Raymond James upped their price target on shares of Pembina Pipeline from C$46.00 to C$47.00 in a report on Tuesday, December 13th. CIBC upped their price target on shares of Pembina Pipeline from C$52.00 to C$53.00 in a report on Monday, February 27th. Finally, National Bank Financial upped their price target on shares of Pembina Pipeline from C$46.00 to C$47.00 in a report on Friday, January 27th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $52.63.
Pembina Pipeline Stock Down 1.1 %
Pembina Pipeline Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Wednesday, March 15th will be paid a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 6.44%. The ex-dividend date of this dividend is Tuesday, March 14th. Pembina Pipeline’s dividend payout ratio (DPR) is presently 48.35%.
Pembina Pipeline Company Profile
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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