Millstone Evans Group LLC Purchases New Stake in Pembina Pipeline Co. (NYSE:PBA)

Millstone Evans Group LLC purchased a new stake in shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 2,500 shares of the pipeline company’s stock, valued at approximately $92,000.

Several other large investors have also recently bought and sold shares of PBA. The Manufacturers Life Insurance Company raised its position in Pembina Pipeline by 71.6% during the third quarter. The Manufacturers Life Insurance Company now owns 3,163,711 shares of the pipeline company’s stock valued at $130,501,000 after buying an additional 1,319,709 shares during the period. AGF Management Ltd. raised its position in Pembina Pipeline by 612.7% during the fourth quarter. AGF Management Ltd. now owns 1,080,853 shares of the pipeline company’s stock valued at $40,025,000 after buying an additional 929,206 shares during the period. JPMorgan Chase & Co. raised its position in Pembina Pipeline by 18.2% during the third quarter. JPMorgan Chase & Co. now owns 4,049,470 shares of the pipeline company’s stock valued at $167,000,000 after buying an additional 624,958 shares during the period. FMR LLC raised its position in Pembina Pipeline by 1,396.8% during the third quarter. FMR LLC now owns 547,448 shares of the pipeline company’s stock valued at $22,573,000 after buying an additional 510,873 shares during the period. Finally, Point72 Asset Management L.P. raised its position in Pembina Pipeline by 114.4% during the third quarter. Point72 Asset Management L.P. now owns 536,545 shares of the pipeline company’s stock valued at $22,121,000 after buying an additional 286,267 shares during the period. 55.37% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on the company. Citigroup upgraded Pembina Pipeline from a “neutral” rating to a “buy” rating in a research note on Monday, March 10th. Barclays assumed coverage on Pembina Pipeline in a research note on Thursday, December 12th. They issued an “overweight” rating on the stock. Wells Fargo & Company downgraded Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Finally, TD Securities assumed coverage on Pembina Pipeline in a research note on Wednesday, January 15th. They issued a “buy” rating on the stock. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $56.50.

Pembina Pipeline Stock Performance

PBA opened at $39.69 on Friday. The company has a market cap of $23.04 billion, a PE ratio of 16.40 and a beta of 1.26. The stock has a 50-day moving average of $37.28 and a 200-day moving average of $39.31. Pembina Pipeline Co. has a 52-week low of $33.83 and a 52-week high of $43.44. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.51 and a current ratio of 0.65.

Pembina Pipeline Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be paid a dividend of $0.4783 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.91 annualized dividend and a dividend yield of 4.82%. Pembina Pipeline’s dividend payout ratio (DPR) is presently 86.76%.

Pembina Pipeline Company 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.