ExodusPoint Capital Management LP Lowers Position in Pembina Pipeline Co. (NYSE:PBA)

ExodusPoint Capital Management LP cut its stake in Pembina Pipeline Co. (NYSE:PBA – Get Rating) (TSE:PPL) by 61.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,757 shares of the pipeline company’s stock after selling 10,958 shares during the quarter. ExodusPoint Capital Management LP’s holdings in Pembina Pipeline were worth $205,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Pembina Pipeline by 2.8% in the 1st quarter. Vanguard Group Inc. now owns 18,664,547 shares of the pipeline company’s stock worth $701,787,000 after purchasing an additional 516,282 shares in the last quarter. Deutsche Bank AG boosted its position in Pembina Pipeline by 8.5% in the 2nd quarter. Deutsche Bank AG now owns 16,150,728 shares of the pipeline company’s stock valued at $570,929,000 after buying an additional 1,261,339 shares during the period. Bank of Nova Scotia boosted its position in Pembina Pipeline by 6.0% in the 2nd quarter. Bank of Nova Scotia now owns 13,099,073 shares of the pipeline company’s stock valued at $463,018,000 after buying an additional 736,822 shares during the period. Mackenzie Financial Corp lifted its position in shares of Pembina Pipeline by 0.4% during the 3rd quarter. Mackenzie Financial Corp now owns 10,155,763 shares of the pipeline company’s stock worth $308,147,000 after purchasing an additional 42,367 shares during the last quarter. Finally, Toronto Dominion Bank lifted its position in shares of Pembina Pipeline by 18.6% during the 3rd quarter. Toronto Dominion Bank now owns 9,065,679 shares of the pipeline company’s stock worth $294,997,000 after purchasing an additional 1,421,507 shares during the last quarter. 55.08% of the stock is owned by hedge funds and other institutional investors.

Pembina Pipeline Trading Up 0.9 %

Shares of Pembina Pipeline stock opened at $34.21 on Friday. Pembina Pipeline Co. has a 52-week low of $29.64 and a 52-week high of $42.74. The company has a quick ratio of 0.53, a current ratio of 0.67 and a debt-to-equity ratio of 0.74. The company’s 50-day simple moving average is $34.57 and its 200-day simple moving average is $34.26. The firm has a market cap of $18.83 billion, a price-to-earnings ratio of 8.66, a price-to-earnings-growth ratio of 5.11 and a beta of 1.29.

Pembina Pipeline Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Wednesday, March 15th will be paid a dividend of $0.49 per share. The ex-dividend date of this dividend is Tuesday, March 14th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 5.73%. Pembina Pipeline’s dividend payout ratio (DPR) is 49.37%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on PBA shares. Credit Suisse Group cut shares of Pembina Pipeline from an “outperform” rating to a “neutral” rating in a research report on Friday, December 9th. Scotiabank boosted their price target on shares of Pembina Pipeline from C$50.00 to C$51.00 in a research report on Monday, February 27th. National Bank Financial boosted their price target on shares of Pembina Pipeline from C$46.00 to C$47.00 in a research report on Friday, January 27th. Raymond James boosted their price target on shares of Pembina Pipeline from C$46.00 to C$47.00 in a research report on Tuesday, December 13th. Finally, Wells Fargo & Company raised shares of Pembina Pipeline from an “equal weight” rating to an “overweight” rating in a research report on Friday, December 16th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $52.63.

About Pembina Pipeline

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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.