Rep. Virginia Foxx Sells Pembina Pipeline Co. (NYSE:PBA) Stock

Representative Virginia Foxx (R-North Carolina) recently sold shares of Pembina Pipeline Co. (NYSE:PBA). In a filing disclosed on January 06th, the Representative disclosed that they had sold between $50,001 and $100,000 in Pembina Pipeline stock on December 6th.

Representative Virginia Foxx also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of AbbVie (NYSE:ABBV) on 12/6/2024.
• Sold $50,001 – $100,000 in shares of Via Renewables (NASDAQ:VIASP) on 12/6/2024.
• Purchased $1,001 – $15,000 in shares of American Electric Power (NASDAQ:AEP) on 12/6/2024.
• Sold $15,001 – $50,000 in shares of FLEX LNG (NYSE:FLNG) on 12/6/2024.
• Purchased $1,001 – $15,000 in shares of Bristol-Myers Squibb (NYSE:BMY) on 12/6/2024.
• Sold $15,001 – $50,000 in shares of Ardmore Shipping (NYSE:ASC) on 12/6/2024.
• Purchased $1,001 – $15,000 in shares of Amgen (NASDAQ:AMGN) on 12/6/2024.
• Sold $15,001 – $50,000 in shares of Alliance Resource Partners (NASDAQ:ARLP) on 12/6/2024.
• Purchased $1,001 – $15,000 in shares of Duke Energy (NYSE:DUK) on 12/6/2024.
• Sold $15,001 – $50,000 in shares of Energy Transfer (NYSE:ET) on 12/6/2024.

Pembina Pipeline Stock Up 0.9 %

NYSE:PBA traded up $0.32 on Thursday, hitting $36.96. 602,609 shares of the company’s stock traded hands, compared to its average volume of 1,352,281. The firm has a 50-day moving average price of $39.47 and a 200-day moving average price of $39.67. 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 company has a market cap of $21.46 billion, a PE ratio of 15.27 and a beta of 1.25. Pembina Pipeline Co. has a 1 year low of $32.81 and a 1 year high of $43.44.

Pembina Pipeline Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were paid a $0.69 dividend. The ex-dividend date was Monday, December 16th. This represents a $2.76 dividend on an annualized basis and a yield of 7.47%. This is a boost from Pembina Pipeline’s previous quarterly dividend of $0.50. Pembina Pipeline’s dividend payout ratio (DPR) is currently 84.30%.

Institutional Investors Weigh In On Pembina Pipeline

Institutional investors have recently added to or reduced their stakes in the company. Toronto Dominion Bank raised its stake in shares of Pembina Pipeline by 97.2% in the second quarter. Toronto Dominion Bank now owns 8,938,488 shares of the pipeline company’s stock valued at $331,439,000 after purchasing an additional 4,405,792 shares in the last quarter. Canada Pension Plan Investment Board boosted its holdings in Pembina Pipeline by 56.9% during the second quarter. Canada Pension Plan Investment Board now owns 8,387,525 shares of the pipeline company’s stock valued at $311,142,000 after purchasing an additional 3,043,200 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Pembina Pipeline by 71.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 3,163,711 shares of the pipeline company’s stock valued at $130,501,000 after purchasing an additional 1,319,709 shares during the period. Intact Investment Management Inc. raised its holdings in shares of Pembina Pipeline by 83.2% in the 3rd quarter. Intact Investment Management Inc. now owns 1,976,934 shares of the pipeline company’s stock worth $81,498,000 after buying an additional 897,940 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Pembina Pipeline by 18.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,049,470 shares of the pipeline company’s stock worth $167,000,000 after buying an additional 624,958 shares during the period. 55.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PBA has been the topic of a number of recent analyst reports. Raymond James initiated coverage on Pembina Pipeline in a research note on Friday, October 11th. They issued an “outperform” rating on the stock. UBS Group started coverage on shares of Pembina Pipeline in a research note on Wednesday, September 11th. They issued a “neutral” rating for the company. Wells Fargo & Company lowered 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 report on Thursday, December 12th. They set an “overweight” rating for the company. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $56.50.

About Representative Foxx

Virginia Foxx (Republican Party) is a member of the U.S. House, representing North Carolina’s 5th Congressional District. She assumed office on January 3, 2005. Her current term ends on January 3, 2025. Foxx (Republican Party) is running for re-election to the U.S. House to represent North Carolina’s 5th Congressional District. She declared candidacy for the 2024 election. Prior to her election to the U.S. House, Foxx served as a member of the North Carolina State Senate as well as deputy secretary for management for North Carolina. Foxx was born in New York, New York. She earned a B.A. and M.A.C.T. from the University of North Carolina, Chapel Hill, in 1968 and 1972, respectively, and an Ed.D. from the University of North Carolina, Greensboro, in 1985. Foxx worked as an instructor at Caldwell Community College in Hudson, NC, and an instructor and assistant dean at Appalachian State University in Boone, NC. She owned a landscape nursery and served as Deputy Secretary for Management at the North Carolina Department of Administration.

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.