JARISLOWSKY FRASER Ltd Lowers Stock Position in Pembina Pipeline Co. (NYSE:PBA)

JARISLOWSKY FRASER Ltd trimmed its holdings in shares of Pembina Pipeline Co. (NYSE:PBAFree Report) (TSE:PPL) by 12.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 505,484 shares of the pipeline company’s stock after selling 74,818 shares during the period. JARISLOWSKY FRASER Ltd owned about 0.09% of Pembina Pipeline worth $17,488,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. Vanguard Group Inc. lifted its holdings in Pembina Pipeline by 1.7% in the third quarter. Vanguard Group Inc. now owns 21,222,536 shares of the pipeline company’s stock valued at $637,949,000 after acquiring an additional 351,266 shares during the period. Bank of Nova Scotia boosted its holdings in Pembina Pipeline by 3.1% during the third quarter. Bank of Nova Scotia now owns 14,665,584 shares of the pipeline company’s stock worth $440,966,000 after buying an additional 445,262 shares in the last quarter. Deutsche Bank AG boosted its holdings in Pembina Pipeline by 1.0% during the third quarter. Deutsche Bank AG now owns 13,391,140 shares of the pipeline company’s stock worth $402,538,000 after buying an additional 131,487 shares in the last quarter. Mackenzie Financial Corp grew its position in Pembina Pipeline by 5.7% during the fourth quarter. Mackenzie Financial Corp now owns 12,652,115 shares of the pipeline company’s stock worth $435,812,000 after buying an additional 680,945 shares during the period. Finally, Toronto Dominion Bank increased its holdings in Pembina Pipeline by 8.3% in the third quarter. Toronto Dominion Bank now owns 7,699,608 shares of the pipeline company’s stock valued at $231,450,000 after buying an additional 593,061 shares in the last quarter. 55.37% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. StockNews.com cut Pembina Pipeline from a “buy” rating to a “hold” rating in a report on Monday, May 13th. CIBC raised their price target on Pembina Pipeline from $56.00 to $57.00 and gave the company an “outperformer” rating in a research report on Friday, April 19th. TheStreet upgraded shares of Pembina Pipeline from a “c” rating to a “b-” rating in a research report on Thursday, February 29th. Finally, Scotiabank cut shares of Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a research report on Sunday, May 19th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $52.00.

Get Our Latest Stock Report on PBA

Pembina Pipeline Price Performance

Shares of Pembina Pipeline stock traded up $0.03 during trading on Tuesday, hitting $36.55. 146,968 shares of the company were exchanged, compared to its average volume of 1,065,152. The company has a quick ratio of 0.93, a current ratio of 1.03 and a debt-to-equity ratio of 0.78. Pembina Pipeline Co. has a fifty-two week low of $28.15 and a fifty-two week high of $37.47. The stock has a market capitalization of $21.18 billion, a price-to-earnings ratio of 15.88, a P/E/G ratio of 5.32 and a beta of 1.20. The firm has a 50 day moving average price of $35.66 and a 200 day moving average price of $34.57.

Pembina Pipeline Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 17th will be given a dividend of $0.501 per share. This is an increase from Pembina Pipeline’s previous quarterly dividend of $0.49. This represents a $2.00 annualized dividend and a dividend yield of 5.48%. The ex-dividend date of this dividend is Monday, June 17th. Pembina Pipeline’s payout ratio is currently 85.65%.

About Pembina Pipeline

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Pembina Pipeline (NYSE:PBA)

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