Envestnet Asset Management Inc. Raises Position in Pembina Pipeline Co. (NYSE:PBA)

Envestnet Asset Management Inc. raised its stake in shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 2.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 206,516 shares of the pipeline company’s stock after purchasing an additional 4,388 shares during the period. Envestnet Asset Management Inc.’s holdings in Pembina Pipeline were worth $6,493,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Pembina Pipeline by 1.5% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 30,388 shares of the pipeline company’s stock worth $1,143,000 after buying an additional 438 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Pembina Pipeline by 0.6% in the first quarter. Bank of New York Mellon Corp now owns 575,920 shares of the pipeline company’s stock worth $21,655,000 after buying an additional 3,604 shares during the period. American Century Companies Inc. raised its holdings in shares of Pembina Pipeline by 53.4% in the first quarter. American Century Companies Inc. now owns 39,699 shares of the pipeline company’s stock worth $1,492,000 after buying an additional 13,820 shares during the period. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Pembina Pipeline by 8.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 17,446 shares of the pipeline company’s stock worth $656,000 after buying an additional 1,420 shares during the period. Finally, HighTower Advisors LLC raised its holdings in shares of Pembina Pipeline by 20.3% in the first quarter. HighTower Advisors LLC now owns 39,252 shares of the pipeline company’s stock worth $1,478,000 after buying an additional 6,629 shares during the period. 53.86% of the stock is currently owned by hedge funds and other institutional investors.

Pembina Pipeline Stock Up 2.0 %

Shares of NYSE PBA opened at $32.43 on Friday. The company has a current ratio of 0.68, a quick ratio of 0.50 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of $17.81 billion, a PE ratio of 20.14, a price-to-earnings-growth ratio of 5.31 and a beta of 1.27. The stock’s fifty day simple moving average is $30.74 and its two-hundred day simple moving average is $30.99. Pembina Pipeline Co. has a 12-month low of $28.15 and a 12-month high of $36.93.

Pembina Pipeline Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be given a dividend of $0.481 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.92 annualized dividend and a yield of 5.93%. Pembina Pipeline’s dividend payout ratio (DPR) is presently 122.98%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Citigroup assumed coverage on Pembina Pipeline in a report on Thursday, October 5th. They issued a “neutral” rating on the stock. StockNews.com began coverage on Pembina Pipeline in a report on Thursday, October 5th. They set a “hold” rating on the stock. BMO Capital Markets reduced their price objective on Pembina Pipeline from C$54.00 to C$50.00 in a report on Friday, August 4th. TheStreet downgraded Pembina Pipeline from a “b-” rating to a “c” rating in a report on Thursday, November 2nd. Finally, TD Securities reduced their price objective on Pembina Pipeline from C$54.00 to C$50.00 in a report on Tuesday, August 8th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Pembina Pipeline presently has an average rating of “Moderate Buy” and an average price target of $49.86.

Pembina Pipeline Company 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 2.8 millions of barrels of oil equivalent per day, the ground storage capacity 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.