Truist Financial Corp decreased its holdings in shares of Pembina Pipeline Co. (NYSE:PBA – Get Rating) (TSE:PPL) by 21.3% in the 1st quarter, Holdings Channel reports. The fund owned 21,260 shares of the pipeline company’s stock after selling 5,765 shares during the period. Truist Financial Corp’s holdings in Pembina Pipeline were worth $799,000 at the end of the most recent reporting period.
Several other institutional investors have also recently bought and sold shares of PBA. Bogart Wealth LLC acquired a new position in shares of Pembina Pipeline in the first quarter valued at approximately $45,000. Hexagon Capital Partners LLC increased its stake in shares of Pembina Pipeline by 1,882.4% in the first quarter. Hexagon Capital Partners LLC now owns 1,685 shares of the pipeline company’s stock valued at $63,000 after buying an additional 1,600 shares during the period. Rockefeller Capital Management L.P. increased its stake in shares of Pembina Pipeline by 76.4% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,764 shares of the pipeline company’s stock valued at $53,000 after buying an additional 764 shares during the period. CWM LLC acquired a new position in shares of Pembina Pipeline in the first quarter valued at approximately $66,000. Finally, Eaton Vance Management increased its stake in shares of Pembina Pipeline by 109.8% in the fourth quarter. Eaton Vance Management now owns 2,322 shares of the pipeline company’s stock valued at $47,000 after buying an additional 1,215 shares during the period. Institutional investors and hedge funds own 55.44% of the company’s stock.
Pembina Pipeline Stock Performance
Shares of PBA stock opened at $35.87 on Monday. The company has a market cap of $19.90 billion, a price-to-earnings ratio of 19.71, a price-to-earnings-growth ratio of 5.20 and a beta of 1.25. Pembina Pipeline Co. has a 52 week low of $28.89 and a 52 week high of $42.74. The company has a quick ratio of 0.46, a current ratio of 0.55 and a debt-to-equity ratio of 0.85. The firm has a 50 day moving average of $37.50 and a 200-day moving average of $36.22.
Pembina Pipeline Cuts Dividend
The company also recently announced a monthly dividend, which will be paid on Monday, August 15th. Investors of record on Monday, July 25th will be issued a $0.163 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 5.45%. The ex-dividend date of this dividend is Friday, July 22nd. Pembina Pipeline’s dividend payout ratio is currently 109.34%.
Wall Street Analyst Weigh In
Several research analysts have recently issued reports on PBA shares. Royal Bank of Canada upped their price objective on Pembina Pipeline from C$49.00 to C$58.00 in a research note on Monday, May 9th. TD Securities increased their target price on shares of Pembina Pipeline from C$50.00 to C$54.00 in a research report on Monday, May 9th. TheStreet raised shares of Pembina Pipeline from a “c” rating to a “b-” rating in a research report on Wednesday, May 25th. Credit Suisse Group raised shares of Pembina Pipeline from a “neutral” rating to an “outperform” rating in a research report on Monday, April 11th. Finally, Scotiabank increased their target price on shares of Pembina Pipeline from C$54.00 to C$55.00 in a research report on Friday, May 6th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Pembina Pipeline has a consensus rating of “Moderate Buy” and an average price target of $52.63.
Pembina Pipeline Company Profile
Pembina Pipeline Corporation provides transportation and midstream services for the energy industry. 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 3.1 millions of barrels of oil equivalent per day, ground storage of 11 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.
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