Shell Asset Management Co. Cuts Stock Position in Pembina Pipeline Corp. $PBA

Shell Asset Management Co. decreased its holdings in Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 35.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 22,118 shares of the pipeline company’s stock after selling 12,140 shares during the quarter. Shell Asset Management Co.’s holdings in Pembina Pipeline were worth $894,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Mediolanum International Funds Ltd increased its stake in Pembina Pipeline by 2.0% during the 2nd quarter. Mediolanum International Funds Ltd now owns 14,760 shares of the pipeline company’s stock worth $551,000 after buying an additional 293 shares during the period. MAI Capital Management boosted its position in Pembina Pipeline by 2.9% in the 2nd quarter. MAI Capital Management now owns 10,664 shares of the pipeline company’s stock valued at $400,000 after buying an additional 302 shares during the period. Midwest Professional Planners LTD. grew its stake in shares of Pembina Pipeline by 1.9% in the second quarter. Midwest Professional Planners LTD. now owns 16,890 shares of the pipeline company’s stock worth $634,000 after acquiring an additional 312 shares in the last quarter. PFG Investments LLC increased its position in shares of Pembina Pipeline by 2.5% during the third quarter. PFG Investments LLC now owns 13,000 shares of the pipeline company’s stock worth $526,000 after acquiring an additional 313 shares during the period. Finally, Public Sector Pension Investment Board increased its position in shares of Pembina Pipeline by 0.6% during the third quarter. Public Sector Pension Investment Board now owns 56,339 shares of the pipeline company’s stock worth $2,278,000 after acquiring an additional 335 shares during the period. Institutional investors and hedge funds own 55.37% of the company’s stock.

Pembina Pipeline Trading Up 1.7%

PBA opened at $44.35 on Tuesday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.41 and a current ratio of 0.53. Pembina Pipeline Corp. has a one year low of $34.13 and a one year high of $44.60. The company has a market cap of $25.77 billion, a P/E ratio of 22.17 and a beta of 0.68. The business’s 50-day simple moving average is $39.49 and its 200-day simple moving average is $38.76.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Zacks Research upgraded Pembina Pipeline from a “strong sell” rating to a “hold” rating in a report on Friday, January 23rd. TD Securities reduced their price target on Pembina Pipeline from $65.00 to $60.00 and set a “buy” rating on the stock in a research report on Tuesday, December 16th. BMO Capital Markets reissued an “outperform” rating on shares of Pembina Pipeline in a research report on Tuesday, December 16th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Pembina Pipeline in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $60.00.

Pembina Pipeline Company 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.