O Shaughnessy Asset Management LLC Sells 649 Shares of Pembina Pipeline Co. (NYSE:PBA)

O Shaughnessy Asset Management LLC lessened its stake in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 0.6% in the fourth quarter, HoldingsChannel reports. The firm owned 102,769 shares of the pipeline company’s stock after selling 649 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Pembina Pipeline were worth $3,793,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in PBA. Vanguard Group Inc. grew its holdings in shares of Pembina Pipeline by 3.2% in the fourth quarter. Vanguard Group Inc. now owns 24,887,077 shares of the pipeline company’s stock worth $919,503,000 after acquiring an additional 770,729 shares during the period. TD Asset Management Inc. boosted its position in Pembina Pipeline by 5.4% in the fourth quarter. TD Asset Management Inc. now owns 6,789,722 shares of the pipeline company’s stock worth $250,732,000 after purchasing an additional 347,872 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Pembina Pipeline by 0.5% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,249,624 shares of the pipeline company’s stock valued at $230,610,000 after purchasing an additional 32,519 shares during the period. Norges Bank purchased a new stake in shares of Pembina Pipeline during the 4th quarter valued at about $171,860,000. Finally, JPMorgan Chase & Co. lifted its stake in shares of Pembina Pipeline by 18.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,049,470 shares of the pipeline company’s stock worth $167,000,000 after purchasing an additional 624,958 shares during the period. 55.37% of the stock is currently owned by hedge funds and other institutional investors.

Pembina Pipeline Price Performance

Shares of Pembina Pipeline stock opened at $40.85 on Thursday. 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 Co. has a 52 week low of $33.83 and a 52 week high of $43.44. The stock’s 50-day simple moving average is $37.77 and its 200-day simple moving average is $39.28. The company has a market capitalization of $23.72 billion, a price-to-earnings ratio of 16.88 and a beta of 1.26.

Pembina Pipeline Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were paid a $0.4783 dividend. The ex-dividend date was Monday, March 17th. This represents a $1.91 annualized dividend and a yield of 4.68%. Pembina Pipeline’s payout ratio is 86.76%.

Analyst Ratings Changes

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

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.