Ingalls & Snyder LLC Reduces Stake in Pembina Pipeline Co. (NYSE:PBA)

Ingalls & Snyder LLC lessened its holdings in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 2.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 35,550 shares of the pipeline company’s stock after selling 828 shares during the quarter. Ingalls & Snyder LLC’s holdings in Pembina Pipeline were worth $1,314,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Van ECK Associates Corp increased its stake in shares of Pembina Pipeline by 8.0% in the fourth quarter. Van ECK Associates Corp now owns 225,684 shares of the pipeline company’s stock worth $8,335,000 after acquiring an additional 16,762 shares during the period. Miller Howard Investments Inc. NY boosted its holdings in Pembina Pipeline by 25.5% in the fourth quarter. Miller Howard Investments Inc. NY now owns 552,076 shares of the pipeline company’s stock valued at $20,399,000 after purchasing an additional 112,298 shares during the last quarter. Empowered Funds LLC grew its position in Pembina Pipeline by 39.3% during the 4th quarter. Empowered Funds LLC now owns 17,186 shares of the pipeline company’s stock worth $635,000 after purchasing an additional 4,852 shares during the period. Cidel Asset Management Inc. raised its stake in shares of Pembina Pipeline by 0.9% during the 4th quarter. Cidel Asset Management Inc. now owns 253,715 shares of the pipeline company’s stock valued at $9,369,000 after buying an additional 2,197 shares during the last quarter. Finally, RNC Capital Management LLC lifted its holdings in shares of Pembina Pipeline by 7.6% in the 4th quarter. RNC Capital Management LLC now owns 23,406 shares of the pipeline company’s stock valued at $865,000 after buying an additional 1,648 shares during the period. 55.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PBA has been the topic of several analyst reports. TD Securities initiated coverage on Pembina Pipeline in a report on Wednesday, January 15th. They set a “buy” rating on the stock. Wells Fargo & Company cut shares of Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Finally, Barclays started coverage on shares of Pembina Pipeline in a research note on Thursday, December 12th. They issued an “overweight” rating for the company. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $56.50.

Pembina Pipeline Stock Up 1.2 %

Pembina Pipeline stock opened at $36.88 on Friday. 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 stock has a market capitalization of $21.41 billion, a PE ratio of 15.24 and a beta of 1.25. The business has a 50 day simple moving average of $37.07 and a 200-day simple moving average of $39.53. Pembina Pipeline Co. has a 12 month low of $33.28 and a 12 month high of $43.44.

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.