HighPoint Advisor Group LLC Trims Holdings in Pembina Pipeline Co. (NYSE:PBA)

HighPoint Advisor Group LLC lowered its holdings in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 1.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 17,832 shares of the pipeline company’s stock after selling 316 shares during the quarter. HighPoint Advisor Group LLC’s holdings in Pembina Pipeline were worth $658,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

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

Pembina Pipeline Stock Performance

Pembina Pipeline stock opened at $40.50 on Wednesday. The stock’s 50 day moving average is $37.70 and its 200 day moving average is $39.27. The company has a market capitalization of $23.52 billion, a P/E ratio of 16.74 and a beta of 1.26. Pembina Pipeline Co. has a twelve month low of $33.83 and a twelve month high of $43.44. 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 Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were issued a dividend of $0.4783 per share. The ex-dividend date was Monday, March 17th. This represents a $1.91 annualized dividend and a dividend yield of 4.72%. Pembina Pipeline’s payout ratio is presently 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.