Davis Rea LTD. Lowers Stake in Pembina Pipeline Corp (PBA)

Davis Rea LTD. reduced its position in shares of Pembina Pipeline Corp (NYSE:PBA) (TSE:PPL) by 9.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,135 shares of the pipeline company’s stock after selling 3,061 shares during the period. Davis Rea LTD.’s holdings in Pembina Pipeline were worth $869,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in PBA. Stratos Wealth Partners LTD. bought a new position in Pembina Pipeline in the 3rd quarter valued at about $100,000. Captrust Financial Advisors grew its position in Pembina Pipeline by 196.3% in the 3rd quarter. Captrust Financial Advisors now owns 3,336 shares of the pipeline company’s stock valued at $114,000 after buying an additional 2,210 shares in the last quarter. Virtus Alternative Investment Advisers Inc. bought a new position in Pembina Pipeline in the 3rd quarter valued at about $126,000. SG Americas Securities LLC bought a new position in Pembina Pipeline in the 2nd quarter valued at about $178,000. Finally, Riverhead Capital Management LLC lifted its holdings in Pembina Pipeline by 72.0% in the 3rd quarter. Riverhead Capital Management LLC now owns 4,300 shares of the pipeline company’s stock valued at $145,000 after acquiring an additional 1,800 shares during the last quarter. Hedge funds and other institutional investors own 49.02% of the company’s stock.

NYSE:PBA opened at $35.97 on Thursday. Pembina Pipeline Corp has a 52 week low of $28.30 and a 52 week high of $36.84. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.51 and a current ratio of 0.70. The company has a market capitalization of $18.10 billion, a P/E ratio of 27.05, a PEG ratio of 2.87 and a beta of 0.92.

The business also recently declared a monthly dividend, which will be paid on Friday, March 15th. Shareholders of record on Monday, February 25th will be issued a dividend of $0.145 per share. This represents a $1.74 annualized dividend and a yield of 4.84%. The ex-dividend date is Friday, February 22nd. This is an increase from Pembina Pipeline’s previous monthly dividend of $0.14. Pembina Pipeline’s dividend payout ratio (DPR) is 125.56%.

A number of brokerages have weighed in on PBA. Zacks Investment Research raised shares of Pembina Pipeline from a “sell” rating to a “hold” rating in a report on Wednesday. Raymond James reaffirmed a “buy” rating on shares of Pembina Pipeline in a research note on Tuesday, November 6th. Macquarie reaffirmed a “buy” rating on shares of Pembina Pipeline in a research note on Tuesday, February 5th. Scotiabank reaffirmed a “buy” rating on shares of Pembina Pipeline in a research note on Tuesday, February 5th. Finally, National Bank Financial reissued a “buy” rating on shares of Pembina Pipeline in a research report on Friday, November 2nd. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $40.00.

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Pembina Pipeline Profile

Pembina Pipeline Corporation provides transportation and midstream services for the energy industry in North America. It operates through three divisions: Pipelines, Facilities, and Marketing & New Ventures. The company operates approximately 10,000 kilometers of pipeline network that transports hydrocarbon liquids and extends across Alberta and parts of British Columbia, Saskatchewan, and North Dakota; and owns and operates the Nipisi and Mitsue pipelines, which provide transportation for producers operating in the Pelican Lake and Peace River heavy oil regions of Alberta; transports synthetic crude oil for the Syncrude project and the Horizon project to delivery points near Edmonton, Alberta; and operates Cheecham Lateral, which transports synthetic crude to oil sands producers operating southeast of Fort McMurray, Alberta.

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Institutional Ownership by Quarter for Pembina Pipeline (NYSE:PBA)

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