Pembina Pipeline Corp. $PBA Stock Position Raised by Varma Mutual Pension Insurance Co

Varma Mutual Pension Insurance Co grew its position in shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 8.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 309,779 shares of the pipeline company’s stock after buying an additional 24,400 shares during the quarter. Varma Mutual Pension Insurance Co owned approximately 0.05% of Pembina Pipeline worth $12,528,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Mediolanum International Funds Ltd lifted its stake in Pembina Pipeline by 2.0% in the second quarter. Mediolanum International Funds Ltd now owns 14,760 shares of the pipeline company’s stock valued at $551,000 after acquiring an additional 293 shares during the last quarter. MAI Capital Management raised its holdings in shares of Pembina Pipeline by 2.9% during the 2nd quarter. MAI Capital Management now owns 10,664 shares of the pipeline company’s stock valued at $400,000 after purchasing an additional 302 shares in the last quarter. Midwest Professional Planners LTD. lifted its stake in shares of Pembina Pipeline by 1.9% in the 2nd quarter. Midwest Professional Planners LTD. now owns 16,890 shares of the pipeline company’s stock valued at $634,000 after purchasing an additional 312 shares during the last quarter. PFG Investments LLC lifted its stake in shares of Pembina Pipeline by 2.5% in the 3rd quarter. PFG Investments LLC now owns 13,000 shares of the pipeline company’s stock valued at $526,000 after purchasing an additional 313 shares during the last quarter. Finally, M&T Bank Corp boosted its holdings in Pembina Pipeline by 0.3% in the second quarter. M&T Bank Corp now owns 110,885 shares of the pipeline company’s stock worth $4,159,000 after purchasing an additional 351 shares in the last quarter. Institutional investors and hedge funds own 55.37% of the company’s stock.

Pembina Pipeline Stock Performance

PBA opened at $43.62 on Friday. The company has a quick ratio of 0.41, a current ratio of 0.53 and a debt-to-equity ratio of 0.77. The stock’s 50 day moving average price is $39.30 and its two-hundred day moving average price is $38.64. The firm has a market capitalization of $25.34 billion, a P/E ratio of 21.81 and a beta of 0.68. Pembina Pipeline Corp. has a 12-month low of $34.13 and a 12-month high of $44.34.

Wall Street Analysts Forecast Growth

PBA has been the topic of several recent research reports. TD Securities cut their target price on Pembina Pipeline from $65.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday, December 16th. Zacks Research raised Pembina Pipeline from a “strong sell” rating to a “hold” rating in a research note on Friday, January 23rd. Weiss Ratings restated a “hold (c)” rating on shares of Pembina Pipeline in a report on Monday, December 29th. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Pembina Pipeline in a research report on Tuesday, December 16th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Pembina Pipeline presently has an average rating of “Moderate Buy” and an average target price of $60.00.

Pembina Pipeline Profile

Pembina Pipeline Corporation (NYSE: PBA) is a North American energy infrastructure company that develops, owns and operates midstream assets that transport, store and process hydrocarbons. Its core business focuses on the transportation of crude oil, natural gas liquids (NGLs) and condensate, along with gas processing, fractionation, storage and related marketing services. Pembina serves producers, refiners and other energy companies by providing pipeline capacity, terminal services and midstream solutions that link upstream production to downstream markets and export facilities.

The company’s asset base is concentrated in Western Canada, including major operations in Alberta and British Columbia, and it also has operations and commercial activities that extend into the United States.