Metis Global Partners LLC Buys 1,897 Shares of Pembina Pipeline Co. (NYSE:PBA)

Metis Global Partners LLC increased its stake in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 3.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 56,738 shares of the pipeline company’s stock after purchasing an additional 1,897 shares during the quarter. Metis Global Partners LLC’s holdings in Pembina Pipeline were worth $2,096,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in PBA. Prospera Private Wealth LLC bought a new stake in Pembina Pipeline in the 3rd quarter valued at about $26,000. Safe Harbor Fiduciary LLC bought a new stake in shares of Pembina Pipeline in the third quarter valued at approximately $26,000. Versant Capital Management Inc bought a new stake in shares of Pembina Pipeline in the fourth quarter valued at approximately $27,000. Sound Income Strategies LLC bought a new stake in shares of Pembina Pipeline in the fourth quarter valued at approximately $27,000. Finally, Dunhill Financial LLC bought a new stake in Pembina Pipeline during the 3rd quarter valued at $28,000. 55.37% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PBA has been the topic of a number of analyst reports. Wells Fargo & Company cut shares of Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Barclays initiated coverage on Pembina Pipeline in a research report on Thursday, December 12th. They set an “overweight” rating on the stock. Finally, TD Securities initiated coverage on shares of Pembina Pipeline in a report on Wednesday, January 15th. They set a “buy” rating on the stock. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $56.50.

Pembina Pipeline Stock Up 6.9 %

PBA stock opened at $38.86 on Monday. The company has a current ratio of 0.65, a quick ratio of 0.51 and a debt-to-equity ratio of 0.79. The company’s 50 day moving average is $36.70 and its 200 day moving average is $39.40. The stock has a market cap of $22.56 billion, a price-to-earnings ratio of 16.06 and a beta of 1.25. Pembina Pipeline Co. has a 1-year low of $33.83 and a 1-year high of $43.44.

Pembina Pipeline Cuts Dividend

The business also recently declared 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. This represents a $1.91 dividend on an annualized basis and a dividend yield of 4.92%. The ex-dividend date of this dividend is Monday, March 17th. Pembina Pipeline’s payout ratio is 80.58%.

Pembina Pipeline 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.