Swiss National Bank Cuts Holdings in Pembina Pipeline Co. (NYSE:PBA)

Swiss National Bank trimmed its holdings in shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 3.9% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,684,396 shares of the pipeline company’s stock after selling 68,200 shares during the period. Swiss National Bank’s holdings in Pembina Pipeline were worth $62,204,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Safe Harbor Fiduciary LLC acquired a new position in shares of Pembina Pipeline during the third quarter valued at approximately $26,000. Prospera Private Wealth LLC acquired a new position in shares of Pembina Pipeline during the 3rd quarter valued at about $26,000. Dunhill Financial LLC acquired a new position in Pembina Pipeline in the 3rd quarter valued at about $28,000. Versant Capital Management Inc purchased a new position in Pembina Pipeline in the fourth quarter worth approximately $27,000. Finally, Sound Income Strategies LLC purchased a new position in shares of Pembina Pipeline during the 4th quarter worth $27,000. 55.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Pembina Pipeline Stock Performance

Shares of PBA stock opened at $39.00 on Friday. The stock has a market capitalization of $22.64 billion, a PE ratio of 16.12 and a beta of 1.26. The company has a quick ratio of 0.51, a current ratio of 0.65 and a debt-to-equity ratio of 0.79. The stock’s 50-day moving average price is $37.00 and its 200 day moving average price is $39.34. 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 disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be paid 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 4.90%. Pembina Pipeline’s dividend payout ratio is currently 86.76%.

Pembina Pipeline Company Profile

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.