TD Asset Management Inc Buys 283,513 Shares of Pembina Pipeline Corp. $PBA

TD Asset Management Inc raised its stake in Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 3.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,582,203 shares of the pipeline company’s stock after buying an additional 283,513 shares during the quarter. TD Asset Management Inc owned 1.30% of Pembina Pipeline worth $306,634,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of PBA. Westside Investment Management Inc. raised its position in shares of Pembina Pipeline by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 808 shares of the pipeline company’s stock valued at $32,000 after acquiring an additional 404 shares during the period. Physician Wealth Advisors Inc. increased its stake in Pembina Pipeline by 441.2% in the third quarter. Physician Wealth Advisors Inc. now owns 920 shares of the pipeline company’s stock valued at $37,000 after purchasing an additional 750 shares in the last quarter. Golden State Wealth Management LLC bought a new stake in Pembina Pipeline in the third quarter valued at approximately $40,000. Mather Group LLC. acquired a new stake in Pembina Pipeline in the third quarter worth $45,000. Finally, State of Wyoming bought a new position in shares of Pembina Pipeline during the second quarter worth $58,000. 55.37% of the stock is currently owned by institutional investors and hedge funds.

Pembina Pipeline Stock Performance

Shares of Pembina Pipeline stock opened at $44.25 on Wednesday. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.53 and a quick ratio of 0.41. The firm has a market cap of $25.71 billion, a price-to-earnings ratio of 22.12 and a beta of 0.68. The stock’s 50-day moving average is $40.08 and its 200-day moving average is $39.05. Pembina Pipeline Corp. has a one year low of $34.13 and a one year high of $44.60.

Analyst Upgrades and Downgrades

PBA has been the subject of a number of recent analyst reports. Zacks Research upgraded shares of Pembina Pipeline from a “strong sell” rating to a “hold” rating in a research report on Friday, January 23rd. Weiss Ratings restated a “hold (c)” rating on shares of Pembina Pipeline in a report on Monday, December 29th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Pembina Pipeline in a research report on Tuesday, December 16th. Finally, TD Securities lowered Pembina Pipeline from a “buy” rating to a “hold” rating in a research report on Tuesday, February 17th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently 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.