UniSuper Management Pty Ltd Cuts Position in Pembina Pipeline Co. (NYSE:PBA)

UniSuper Management Pty Ltd lessened its position in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 18.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 972,943 shares of the pipeline company’s stock after selling 225,113 shares during the quarter. UniSuper Management Pty Ltd owned 0.17% of Pembina Pipeline worth $35,950,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in PBA. The Manufacturers Life Insurance Company grew its position in 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 valued at $130,501,000 after acquiring an additional 1,319,709 shares during the last quarter. Hillsdale Investment Management Inc. grew its holdings in shares of Pembina Pipeline by 338.7% during the 4th quarter. Hillsdale Investment Management Inc. now owns 1,289,706 shares of the pipeline company’s stock valued at $47,598,000 after purchasing an additional 995,735 shares during the last quarter. AGF Management Ltd. raised its position in Pembina Pipeline by 612.7% in the 4th quarter. AGF Management Ltd. now owns 1,080,853 shares of the pipeline company’s stock worth $40,025,000 after purchasing an additional 929,206 shares during the period. Vanguard Group Inc. lifted its stake in Pembina Pipeline by 3.2% in the fourth quarter. Vanguard Group Inc. now owns 24,887,077 shares of the pipeline company’s stock worth $919,503,000 after purchasing an additional 770,729 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Pembina Pipeline by 18.2% during the third quarter. JPMorgan Chase & Co. now owns 4,049,470 shares of the pipeline company’s stock valued at $167,000,000 after buying an additional 624,958 shares during the period. Institutional investors own 55.37% of the company’s stock.

Pembina Pipeline Price Performance

PBA opened at $40.09 on Thursday. The stock’s 50 day moving average price is $37.49 and its 200-day moving average price is $39.30. Pembina Pipeline Co. has a 52-week low of $33.83 and a 52-week high of $43.44. The stock has a market capitalization of $23.27 billion, a PE ratio of 16.56 and a beta of 1.26. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.51 and a current ratio of 0.65.

Pembina Pipeline Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be issued a $0.4783 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.91 annualized dividend and a yield of 4.77%. Pembina Pipeline’s dividend payout ratio (DPR) is presently 86.76%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Wells Fargo & Company downgraded Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. TD Securities began coverage on Pembina Pipeline in a research note on Wednesday, January 15th. They issued a “buy” rating on the stock. Citigroup raised Pembina Pipeline from a “neutral” rating to a “buy” rating in a research note on Monday, March 10th. Finally, Barclays started coverage on shares of Pembina Pipeline in a report on Thursday, December 12th. They issued an “overweight” rating on the stock. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Pembina Pipeline has a consensus rating of “Moderate Buy” and a consensus target price of $56.50.

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.