Bank of Montreal Can Has $901.45 Million Position in Pembina Pipeline Co. (NYSE:PBA)

Bank of Montreal Can decreased its holdings in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 8.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 24,429,665 shares of the pipeline company’s stock after selling 2,378,887 shares during the quarter. Bank of Montreal Can owned 4.21% of Pembina Pipeline worth $901,451,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. FMR LLC lifted its position in shares of Pembina Pipeline by 1,396.8% during the 3rd quarter. FMR LLC now owns 547,448 shares of the pipeline company’s stock worth $22,573,000 after buying an additional 510,873 shares during the period. HighTower Advisors LLC lifted its holdings in shares of Pembina Pipeline by 11.0% during the third quarter. HighTower Advisors LLC now owns 24,428 shares of the pipeline company’s stock valued at $1,007,000 after acquiring an additional 2,424 shares during the period. Janus Henderson Group PLC lifted its holdings in shares of Pembina Pipeline by 293.2% during the third quarter. Janus Henderson Group PLC now owns 179,615 shares of the pipeline company’s stock valued at $7,413,000 after acquiring an additional 133,939 shares during the period. Quantinno Capital Management LP boosted its stake in shares of Pembina Pipeline by 36.7% in the 3rd quarter. Quantinno Capital Management LP now owns 21,243 shares of the pipeline company’s stock valued at $876,000 after purchasing an additional 5,706 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC bought a new stake in shares of Pembina Pipeline in the 3rd quarter worth about $391,000. 55.37% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Pembina Pipeline Stock Performance

Shares of Pembina Pipeline stock opened at $37.17 on Monday. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.65 and a quick ratio of 0.51. The firm has a 50 day simple moving average of $37.84 and a 200 day simple moving average of $39.25. Pembina Pipeline Co. has a fifty-two week low of $33.83 and a fifty-two week high of $43.44. The firm has a market cap of $21.58 billion, a P/E ratio of 15.36 and a beta of 0.89.

Pembina Pipeline Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were given a dividend of $0.4783 per share. The ex-dividend date was Monday, March 17th. This represents a $1.91 dividend on an annualized basis and a dividend yield of 5.15%. Pembina Pipeline’s payout ratio is currently 86.76%.

About Pembina Pipeline

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.