Acorn Wealth Advisors LLC Sells 357 Shares of Pembina Pipeline Co. (NYSE:PBA)

Acorn Wealth Advisors LLC decreased its position in shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 4.1% in the 3rd quarter, Holdings Channel reports. The firm owned 8,424 shares of the pipeline company’s stock after selling 357 shares during the quarter. Acorn Wealth Advisors LLC’s holdings in Pembina Pipeline were worth $347,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Kingsview Wealth Management LLC increased its holdings in Pembina Pipeline by 4.1% in the third quarter. Kingsview Wealth Management LLC now owns 6,947 shares of the pipeline company’s stock worth $286,000 after purchasing an additional 273 shares in the last quarter. CENTRAL TRUST Co grew its position in shares of Pembina Pipeline by 65.0% during the 3rd quarter. CENTRAL TRUST Co now owns 825 shares of the pipeline company’s stock worth $34,000 after buying an additional 325 shares during the period. Granite Group Advisors LLC increased its stake in shares of Pembina Pipeline by 5.2% in the 1st quarter. Granite Group Advisors LLC now owns 6,719 shares of the pipeline company’s stock valued at $237,000 after acquiring an additional 330 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its position in shares of Pembina Pipeline by 1.8% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 18,675 shares of the pipeline company’s stock valued at $770,000 after acquiring an additional 334 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Pembina Pipeline by 30.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,668 shares of the pipeline company’s stock valued at $65,000 after acquiring an additional 387 shares during the period. Institutional investors and hedge funds own 55.37% of the company’s stock.

Pembina Pipeline Stock Down 0.9 %

NYSE PBA traded down $0.37 during trading hours on Monday, hitting $42.56. The company’s stock had a trading volume of 49,572 shares, compared to its average volume of 1,105,746. The company has a market capitalization of $24.71 billion, a PE ratio of 17.74 and a beta of 1.25. The company has a current ratio of 0.65, a quick ratio of 0.51 and a debt-to-equity ratio of 0.79. Pembina Pipeline Co. has a 52 week low of $32.39 and a 52 week high of $43.44. The company’s 50-day simple moving average is $41.92 and its two-hundred day simple moving average is $39.35.

Pembina Pipeline Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be given a dividend of $0.69 per share. This is a boost from Pembina Pipeline’s previous quarterly dividend of $0.50. The ex-dividend date is Monday, December 16th. This represents a $2.76 annualized dividend and a dividend yield of 6.48%. Pembina Pipeline’s payout ratio is presently 84.30%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Raymond James started coverage on shares of Pembina Pipeline in a research note on Friday, October 11th. They issued an “outperform” rating for the company. Citigroup boosted their target price on Pembina Pipeline from $53.00 to $56.00 and gave the company a “neutral” rating in a research report on Wednesday, August 28th. Finally, UBS Group started coverage on Pembina Pipeline in a report on Wednesday, September 11th. They issued a “neutral” rating on the stock. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Pembina Pipeline has a consensus rating of “Hold” and a consensus target price of $56.50.

About Pembina Pipeline

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.