JCIC Asset Management Inc. cut its stake in shares of Pembina Pipeline Corp (NYSE:PBA) (TSE:PPL) by 2.2% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 110,230 shares of the pipeline company’s stock after selling 2,440 shares during the period. Pembina Pipeline comprises about 1.6% of JCIC Asset Management Inc.’s holdings, making the stock its 29th biggest holding. JCIC Asset Management Inc.’s holdings in Pembina Pipeline were worth $4,053,000 as of its most recent filing with the SEC.
A number of other large investors also recently bought and sold shares of PBA. Phocas Financial Corp. purchased a new stake in shares of Pembina Pipeline during the fourth quarter worth $28,000. Bremer Trust National Association purchased a new stake in shares of Pembina Pipeline in the fourth quarter valued at about $32,000. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of Pembina Pipeline in the fourth quarter valued at about $33,000. Bruderman Asset Management LLC purchased a new stake in shares of Pembina Pipeline in the fourth quarter valued at about $48,000. Finally, Enlightenment Research LLC purchased a new stake in shares of Pembina Pipeline in the fourth quarter valued at about $53,000. Institutional investors own 51.82% of the company’s stock.
Shares of PBA stock opened at $35.42 on Friday. The company has a quick ratio of 0.55, a current ratio of 0.68 and a debt-to-equity ratio of 0.59. The stock has a market cap of $18.03 billion, a price-to-earnings ratio of 20.01, a P/E/G ratio of 3.21 and a beta of 0.89. Pembina Pipeline Corp has a 1-year low of $28.30 and a 1-year high of $37.93.
The business also recently announced a monthly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 24th will be paid a dividend of $0.1486 per share. This represents a $1.78 annualized dividend and a yield of 5.03%. The ex-dividend date of this dividend is Thursday, May 23rd. This is a positive change from Pembina Pipeline’s previous monthly dividend of $0.14. Pembina Pipeline’s dividend payout ratio (DPR) is 96.61%.
A number of brokerages recently issued reports on PBA. Zacks Investment Research lowered shares of Pembina Pipeline from a “buy” rating to a “hold” rating in a report on Friday, March 1st. AltaCorp Capital reissued an “outperform” rating on shares of Pembina Pipeline in a report on Wednesday, February 13th. Macquarie reissued a “buy” rating on shares of Pembina Pipeline in a report on Tuesday, February 5th. Finally, Scotiabank reissued a “buy” rating on shares of Pembina Pipeline in a report on Tuesday, February 5th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Pembina Pipeline currently has an average rating of “Buy” and an average price target of $40.00.
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About Pembina Pipeline
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 Pipelines division operates conventional, transmission, and oil sands and heavy oil pipeline assets with a total capacity of 3 million barrels of oil serving markets and basins across North America through conventional, transmission, and oil sand pipelines assets.
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