Edgemoor Investment Advisors Inc. Sells 4,460 Shares of Pembina Pipeline Co. (NYSE:PBA)

Edgemoor Investment Advisors Inc. reduced its position in shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 4.7% in the fourth quarter, HoldingsChannel reports. The firm owned 90,202 shares of the pipeline company’s stock after selling 4,460 shares during the quarter. Edgemoor Investment Advisors Inc.’s holdings in Pembina Pipeline were worth $3,333,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in PBA. The Manufacturers Life Insurance Company grew its stake in shares of Pembina Pipeline by 71.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 3,163,711 shares of the pipeline company’s stock valued at $130,501,000 after purchasing an additional 1,319,709 shares during the period. AGF Management Ltd. grew its stake in shares of Pembina Pipeline by 612.7% during the 4th quarter. AGF Management Ltd. now owns 1,080,853 shares of the pipeline company’s stock valued at $40,025,000 after acquiring an additional 929,206 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Pembina Pipeline by 18.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,049,470 shares of the pipeline company’s stock valued at $167,000,000 after acquiring an additional 624,958 shares during the period. Kayne Anderson Capital Advisors LP grew its stake in shares of Pembina Pipeline by 15.3% during the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 4,155,198 shares of the pipeline company’s stock valued at $171,360,000 after acquiring an additional 550,491 shares during the period. Finally, FMR LLC grew its stake in shares of Pembina Pipeline by 1,396.8% during the 3rd quarter. FMR LLC now owns 547,448 shares of the pipeline company’s stock valued at $22,573,000 after acquiring an additional 510,873 shares during the period. 55.37% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Pembina Pipeline Trading Up 1.3 %

PBA stock opened at $39.00 on Monday. Pembina Pipeline Co. has a 1-year low of $33.83 and a 1-year high of $43.44. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.65 and a quick ratio of 0.51. The company has a market capitalization of $22.64 billion, a price-to-earnings ratio of 16.12 and a beta of 1.26. The business has a 50 day simple moving average of $37.00 and a two-hundred day simple moving average of $39.33.

Pembina Pipeline Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be issued a dividend of $0.4783 per share. The ex-dividend date is Monday, March 17th. This represents a $1.91 annualized dividend and a dividend yield of 4.90%. Pembina Pipeline’s dividend payout ratio (DPR) is 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.