Truist Financial Corp Sells 2,834 Shares of Pembina Pipeline Co. (NYSE:PBA)

Truist Financial Corp decreased its position in shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 13.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,098 shares of the pipeline company’s stock after selling 2,834 shares during the period. Truist Financial Corp’s holdings in Pembina Pipeline were worth $669,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Prospera Private Wealth LLC purchased a new stake in shares of Pembina Pipeline in the third quarter worth $26,000. Safe Harbor Fiduciary LLC purchased a new stake in Pembina Pipeline in the 3rd quarter worth $26,000. Versant Capital Management Inc bought a new stake in Pembina Pipeline during the fourth quarter valued at about $27,000. Sound Income Strategies LLC purchased a new position in shares of Pembina Pipeline in the fourth quarter valued at about $27,000. Finally, Dunhill Financial LLC bought a new position in shares of Pembina Pipeline in the third quarter worth about $28,000. Institutional investors own 55.37% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on PBA. Wells Fargo & Company downgraded Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Barclays assumed coverage on shares of Pembina Pipeline in a research report on Thursday, December 12th. They set an “overweight” rating on the stock. Finally, TD Securities initiated coverage on shares of Pembina Pipeline in a research report on Wednesday, January 15th. They set a “buy” rating for the company. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $56.50.

Pembina Pipeline Stock Up 6.9 %

Shares of PBA opened at $38.86 on Monday. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.65 and a quick ratio of 0.51. The stock has a market capitalization of $22.56 billion, a price-to-earnings ratio of 16.06 and a beta of 1.25. Pembina Pipeline Co. has a 1 year low of $33.83 and a 1 year high of $43.44. The business’s 50 day simple moving average is $36.70 and its 200-day simple moving average is $39.40.

Pembina Pipeline Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be paid a dividend of $0.4783 per share. This represents a $1.91 dividend on an annualized basis and a yield of 4.92%. The ex-dividend date is Monday, March 17th. Pembina Pipeline’s payout ratio is 80.58%.

About Pembina Pipeline

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.