Pembina Pipeline Co. (NYSE:PBA) Position Increased by TD Asset Management Inc.

TD Asset Management Inc. raised its position in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 5.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 6,789,722 shares of the pipeline company’s stock after buying an additional 347,872 shares during the quarter. TD Asset Management Inc.’s holdings in Pembina Pipeline were worth $250,732,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. PDT Partners LLC acquired a new stake in shares of Pembina Pipeline during the 3rd quarter valued at about $1,329,000. Van ECK Associates Corp lifted its stake in Pembina Pipeline by 8.0% in the fourth quarter. Van ECK Associates Corp now owns 225,684 shares of the pipeline company’s stock valued at $8,335,000 after acquiring an additional 16,762 shares during the last quarter. JPMorgan Chase & Co. grew its position in Pembina Pipeline by 18.2% in the third 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 in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Pembina Pipeline by 1.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 22,903 shares of the pipeline company’s stock worth $846,000 after purchasing an additional 348 shares during the last quarter. Finally, Jennison Associates LLC increased its stake in shares of Pembina Pipeline by 32.3% during the 4th quarter. Jennison Associates LLC now owns 616,992 shares of the pipeline company’s stock worth $22,786,000 after purchasing an additional 150,689 shares during the last quarter. 55.37% of the stock is owned by institutional investors and hedge funds.

Pembina Pipeline Stock Up 1.4 %

PBA stock opened at $40.17 on Tuesday. The stock has a market capitalization of $23.32 billion, a price-to-earnings ratio of 16.60 and a beta of 1.26. The company has a 50-day moving average of $37.36 and a two-hundred day moving average of $39.30. Pembina Pipeline Co. has a 52-week low of $33.83 and a 52-week 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.

Pembina Pipeline Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be paid a dividend of $0.4783 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.91 annualized dividend and a yield of 4.76%. Pembina Pipeline’s payout ratio is 86.76%.

Wall Street Analyst Weigh In

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