HighTower Advisors LLC Lowers Holdings in Pembina Pipeline Corp. $PBA

HighTower Advisors LLC trimmed its holdings in Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 8.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,371 shares of the pipeline company’s stock after selling 2,442 shares during the period. HighTower Advisors LLC’s holdings in Pembina Pipeline were worth $1,056,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in the business. First Horizon Advisors Inc. boosted its holdings in shares of Pembina Pipeline by 69.9% during the 1st quarter. First Horizon Advisors Inc. now owns 673 shares of the pipeline company’s stock valued at $27,000 after purchasing an additional 277 shares during the last quarter. N.E.W. Advisory Services LLC bought a new position in shares of Pembina Pipeline during the 1st quarter valued at about $27,000. Larson Financial Group LLC boosted its holdings in shares of Pembina Pipeline by 53.4% during the 1st quarter. Larson Financial Group LLC now owns 1,341 shares of the pipeline company’s stock valued at $54,000 after purchasing an additional 467 shares during the last quarter. Dunhill Financial LLC boosted its holdings in shares of Pembina Pipeline by 100.0% during the 4th quarter. Dunhill Financial LLC now owns 1,350 shares of the pipeline company’s stock valued at $50,000 after purchasing an additional 675 shares during the last quarter. Finally, Versant Capital Management Inc boosted its holdings in shares of Pembina Pipeline by 108.3% during the 1st quarter. Versant Capital Management Inc now owns 1,525 shares of the pipeline company’s stock valued at $61,000 after purchasing an additional 793 shares during the last quarter. 55.37% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on PBA. BMO Capital Markets reissued an “outperform” rating on shares of Pembina Pipeline in a report on Monday, August 11th. National Bankshares raised shares of Pembina Pipeline from a “sector perform” rating to an “outperform” rating in a report on Thursday, June 26th. Wells Fargo & Company downgraded shares of Pembina Pipeline from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 6th. National Bank Financial raised shares of Pembina Pipeline from a “hold” rating to a “strong-buy” rating in a report on Wednesday, June 25th. Finally, Jefferies Financial Group downgraded shares of Pembina Pipeline from a “buy” rating to a “hold” rating in a report on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Pembina Pipeline presently has an average rating of “Moderate Buy” and an average target price of $56.00.

Pembina Pipeline Stock Down 0.9%

Shares of NYSE:PBA opened at $37.47 on Wednesday. The company has a current ratio of 0.77, a quick ratio of 0.62 and a debt-to-equity ratio of 0.81. Pembina Pipeline Corp. has a 12 month low of $34.13 and a 12 month high of $43.44. The company has a 50-day moving average price of $37.01 and a 200 day moving average price of $37.56. The company has a market cap of $21.76 billion, a price-to-earnings ratio of 17.59 and a beta of 0.78.

Pembina Pipeline Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be given a $0.71 dividend. This is an increase from Pembina Pipeline’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Monday, September 15th. This represents a $2.84 dividend on an annualized basis and a yield of 7.6%. Pembina Pipeline’s dividend payout ratio is currently 97.18%.

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 2.9 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.