Pembina Pipeline Co. (NYSE:PBA) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank decreased its holdings in shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 1.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 136,788 shares of the pipeline company’s stock after selling 1,652 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Pembina Pipeline were worth $5,645,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Glenmede Trust Co. NA boosted its holdings in shares of Pembina Pipeline by 252.6% in the 3rd quarter. Glenmede Trust Co. NA now owns 7,051 shares of the pipeline company’s stock valued at $291,000 after buying an additional 5,051 shares in the last quarter. Quantbot Technologies LP purchased a new stake in Pembina Pipeline in the third quarter valued at $1,107,000. FMR LLC boosted its stake in Pembina Pipeline by 1,396.8% in the third quarter. FMR LLC now owns 547,448 shares of the pipeline company’s stock valued at $22,573,000 after acquiring an additional 510,873 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Pembina Pipeline by 71.6% during the third quarter. The Manufacturers Life Insurance Company now owns 3,163,711 shares of the pipeline company’s stock worth $130,501,000 after purchasing an additional 1,319,709 shares during the last quarter. Finally, Brown Brothers Harriman & Co. increased its position in shares of Pembina Pipeline by 2,344.0% during the third quarter. Brown Brothers Harriman & Co. now owns 11,951 shares of the pipeline company’s stock worth $493,000 after purchasing an additional 11,462 shares in the last quarter. 55.37% of the stock is owned by institutional investors and hedge funds.

Pembina Pipeline Stock Performance

Shares of PBA stock opened at $40.20 on Tuesday. Pembina Pipeline Co. has a 52-week low of $32.39 and a 52-week high of $43.44. The stock’s 50-day moving average price is $41.98 and its 200 day moving average price is $39.53. The company has a quick ratio of 0.51, a current ratio of 0.65 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $23.34 billion, a PE ratio of 16.61 and a beta of 1.25.

Pembina Pipeline Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be paid a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 6.87%. The ex-dividend date of this dividend is Monday, December 16th. This is a boost from Pembina Pipeline’s previous quarterly dividend of $0.50. Pembina Pipeline’s dividend payout ratio is 84.30%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on PBA shares. Citigroup upped their target price on Pembina Pipeline from $53.00 to $56.00 and gave the company a “neutral” rating in a research report on Wednesday, August 28th. UBS Group initiated coverage on Pembina Pipeline in a report on Wednesday, September 11th. They issued a “neutral” rating for the company. Finally, Raymond James initiated coverage on shares of Pembina Pipeline in a report on Friday, October 11th. They issued an “outperform” rating on the stock. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $56.50.

Pembina Pipeline 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.