M&T Bank Corp Sells 762 Shares of Pembina Pipeline Co. (NYSE:PBA)

M&T Bank Corp decreased its holdings in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 0.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 113,587 shares of the pipeline company’s stock after selling 762 shares during the quarter. M&T Bank Corp’s holdings in Pembina Pipeline were worth $4,197,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its position in shares of Pembina Pipeline by 2.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,545,980 shares of the pipeline company’s stock worth $57,091,000 after acquiring an additional 38,624 shares during the last quarter. Steward Partners Investment Advisory LLC raised its position in shares of Pembina Pipeline by 5.5% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 26,554 shares of the pipeline company’s stock worth $981,000 after acquiring an additional 1,374 shares during the last quarter. Wernau Asset Management Inc. bought a new stake in shares of Pembina Pipeline during the fourth quarter worth $233,000. Jones Financial Companies Lllp raised its position in shares of Pembina Pipeline by 24.8% during the fourth quarter. Jones Financial Companies Lllp now owns 24,147 shares of the pipeline company’s stock worth $892,000 after acquiring an additional 4,806 shares during the last quarter. Finally, Metis Global Partners LLC raised its position in shares of Pembina Pipeline by 3.5% during the fourth quarter. Metis Global Partners LLC now owns 56,738 shares of the pipeline company’s stock worth $2,096,000 after acquiring an additional 1,897 shares during the last quarter. Institutional investors own 55.37% of the company’s stock.

Pembina Pipeline Stock Up 0.3 %

NYSE:PBA opened at $37.83 on Friday. Pembina Pipeline Co. has a 1 year low of $33.83 and a 1 year high of $43.44. The company has a current ratio of 0.65, a quick ratio of 0.51 and a debt-to-equity ratio of 0.79. The stock has a market cap of $21.97 billion, a price-to-earnings ratio of 15.63 and a beta of 1.26. The stock has a 50-day moving average price of $36.84 and a two-hundred day moving average price of $39.37.

Pembina Pipeline Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be paid a $0.4783 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.91 dividend on an annualized basis and a yield of 5.06%. Pembina Pipeline’s payout ratio is 86.76%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PBA. Barclays began coverage on Pembina Pipeline in a research report on Thursday, December 12th. They set an “overweight” rating for the company. Wells Fargo & Company downgraded Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Finally, TD Securities started coverage on Pembina Pipeline in a report on Wednesday, January 15th. They issued a “buy” rating for the company. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $56.50.

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.