4,657,463 Shares in Pembina Pipeline Co. (NYSE:PBA) Acquired by Norges Bank

Norges Bank bought a new stake in shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 4,657,463 shares of the pipeline company’s stock, valued at approximately $171,860,000. Norges Bank owned about 0.80% of Pembina Pipeline at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of PBA. Safe Harbor Fiduciary LLC purchased a new stake in Pembina Pipeline during the third quarter valued at $26,000. Dunhill Financial LLC purchased a new stake in shares of Pembina Pipeline during the 3rd quarter valued at about $28,000. Versant Capital Management Inc bought a new position in shares of Pembina Pipeline in the 4th quarter worth approximately $27,000. Sound Income Strategies LLC purchased a new position in shares of Pembina Pipeline in the fourth quarter worth approximately $27,000. Finally, Eastern Bank bought a new stake in Pembina Pipeline during the fourth quarter valued at approximately $29,000. 55.37% of the stock is owned by institutional investors.

Pembina Pipeline Stock Up 0.1 %

PBA opened at $39.91 on Monday. The company has a market capitalization of $23.17 billion, a PE ratio of 16.49 and a beta of 1.26. The firm has a 50-day simple moving average of $37.59 and a two-hundred day simple moving average of $39.28. The company has a quick ratio of 0.51, a current ratio of 0.65 and a debt-to-equity ratio of 0.79. Pembina Pipeline Co. has a 52 week low of $33.83 and a 52 week high of $43.44.

Pembina Pipeline Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be issued a dividend of $0.4783 per share. This represents a $1.91 annualized dividend and a yield of 4.79%. The ex-dividend date is Monday, March 17th. Pembina Pipeline’s dividend payout ratio is presently 86.76%.

Analyst Ratings Changes

PBA has been the topic of several recent research reports. Wells Fargo & Company downgraded shares of Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. TD Securities started coverage on shares of Pembina Pipeline in a report on Wednesday, January 15th. They issued a “buy” rating for the company. Barclays started coverage on shares of Pembina Pipeline in a report on Thursday, December 12th. They set an “overweight” rating on the stock. Finally, Citigroup raised shares of Pembina Pipeline from a “neutral” rating to a “buy” rating in a research note on Monday, March 10th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average 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.