Geneos Wealth Management Inc. cut its holdings in shares of Pembina Pipeline Co. (NYSE:PBA – Get Rating) (TSE:PPL) by 3.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,727 shares of the pipeline company’s stock after selling 909 shares during the period. Geneos Wealth Management Inc.’s holdings in Pembina Pipeline were worth $873,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors also recently modified their holdings of the business. Pictet Asset Management SA boosted its position in shares of Pembina Pipeline by 15.2% during the third quarter. Pictet Asset Management SA now owns 286,670 shares of the pipeline company’s stock worth $8,754,000 after buying an additional 37,900 shares during the period. Maryland State Retirement & Pension System bought a new position in Pembina Pipeline during the fourth quarter worth about $6,518,000. MCIA Inc raised its position in shares of Pembina Pipeline by 102.4% in the third quarter. MCIA Inc now owns 44,728 shares of the pipeline company’s stock valued at $1,427,000 after buying an additional 22,628 shares in the last quarter. Oppenheimer Asset Management Inc. raised its holdings in Pembina Pipeline by 7.6% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 17,108 shares of the pipeline company’s stock valued at $520,000 after acquiring an additional 1,203 shares in the last quarter. Finally, Teamwork Financial Advisors LLC lifted its position in Pembina Pipeline by 11.7% during the third quarter. Teamwork Financial Advisors LLC now owns 10,981 shares of the pipeline company’s stock worth $333,000 after purchasing an additional 1,149 shares during the period. 55.08% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of research firms have recently commented on PBA. National Bank Financial boosted their price target on Pembina Pipeline from C$46.00 to C$47.00 in a report on Friday, January 27th. CIBC raised their price target on shares of Pembina Pipeline from C$52.00 to C$53.00 in a report on Monday, February 27th. Credit Suisse Group cut their target price on Pembina Pipeline from C$54.00 to C$53.00 in a research report on Wednesday, April 5th. Wells Fargo & Company raised shares of Pembina Pipeline from an “equal weight” rating to an “overweight” rating in a research note on Friday, December 16th. Finally, Scotiabank upped their price objective on shares of Pembina Pipeline from C$50.00 to C$51.00 in a report on Monday, February 27th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.67.
Pembina Pipeline Price Performance
Pembina Pipeline Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, March 31st. Stockholders of record on Wednesday, March 15th were given a dividend of $0.49 per share. The ex-dividend date of this dividend was Tuesday, March 14th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 5.77%. Pembina Pipeline’s dividend payout ratio is presently 48.35%.
Pembina Pipeline Company Profile
Pembina Pipeline Corp. engages in the provision of transportation and midstream services. It operates through the following segments: Pipelines, Facilities, Marketing and New Ventures, and Corporate. The Pipelines segment includes conventional, oil sands and transmission pipeline systems, crude oil storage and terminalling business and related infrastructure.
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