PCJ Investment Counsel Ltd. Acquires 20,150 Shares of Pembina Pipeline Co. (NYSE:PBA)

PCJ Investment Counsel Ltd. grew its holdings in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 73.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 47,670 shares of the pipeline company’s stock after purchasing an additional 20,150 shares during the quarter. PCJ Investment Counsel Ltd.’s holdings in Pembina Pipeline were worth $1,759,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. The Manufacturers Life Insurance Company boosted its stake in 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 worth $130,501,000 after acquiring an additional 1,319,709 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Pembina Pipeline by 18.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,049,470 shares of the pipeline company’s stock worth $167,000,000 after acquiring an additional 624,958 shares during the last quarter. Kayne Anderson Capital Advisors LP boosted its stake in 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 worth $171,360,000 after acquiring an additional 550,491 shares during the last quarter. FMR LLC boosted its stake in Pembina Pipeline by 1,396.8% during the 3rd quarter. FMR LLC now owns 547,448 shares of the pipeline company’s stock worth $22,573,000 after acquiring an additional 510,873 shares during the last quarter. Finally, CIBC Asset Management Inc boosted its stake in Pembina Pipeline by 8.1% during the 3rd quarter. CIBC Asset Management Inc now owns 6,405,991 shares of the pipeline company’s stock worth $264,315,000 after acquiring an additional 481,285 shares during the last quarter. Institutional investors own 55.37% of the company’s stock.

Pembina Pipeline Stock Performance

Shares of PBA opened at $37.83 on Friday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.51 and a current ratio of 0.65. Pembina Pipeline Co. has a twelve month low of $33.83 and a twelve month high of $43.44. The firm has a market cap of $21.97 billion, a P/E ratio of 15.63 and a beta of 1.26. The firm’s 50 day moving average price is $36.84 and its two-hundred day moving average price is $39.37.

Pembina Pipeline Cuts Dividend

The firm 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 $0.4783 dividend. The ex-dividend date is Monday, March 17th. This represents a $1.91 dividend on an annualized basis and a dividend yield of 5.06%. Pembina Pipeline’s dividend payout ratio (DPR) is presently 86.76%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on PBA shares. TD Securities started coverage on shares of Pembina Pipeline in a research note on Wednesday, January 15th. They set a “buy” rating on the stock. Wells Fargo & Company lowered shares of Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Finally, Barclays began coverage on shares of Pembina Pipeline in a research note on Thursday, December 12th. They issued an “overweight” rating on the stock. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Pembina Pipeline presently has an average rating of “Hold” and an average price target of $56.50.

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.