Truist Financial Corp Reduces Stock Holdings in Pembina Pipeline Corp. $PBA

Truist Financial Corp trimmed its holdings in shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 7.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,548 shares of the pipeline company’s stock after selling 1,116 shares during the quarter. Truist Financial Corp’s holdings in Pembina Pipeline were worth $508,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its stake in Pembina Pipeline by 3,903.6% during the 1st quarter. GAMMA Investing LLC now owns 3,363 shares of the pipeline company’s stock valued at $135,000 after purchasing an additional 3,279 shares during the last quarter. Farther Finance Advisors LLC grew its stake in Pembina Pipeline by 363.5% during the 1st quarter. Farther Finance Advisors LLC now owns 3,467 shares of the pipeline company’s stock valued at $140,000 after purchasing an additional 2,719 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in Pembina Pipeline by 11.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 18,182 shares of the pipeline company’s stock valued at $728,000 after purchasing an additional 1,824 shares during the last quarter. Dunhill Financial LLC grew its stake in Pembina Pipeline by 42.6% during the 1st quarter. Dunhill Financial LLC now owns 1,925 shares of the pipeline company’s stock valued at $77,000 after purchasing an additional 575 shares during the last quarter. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its stake in Pembina Pipeline by 7.1% during the 1st quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 29,275 shares of the pipeline company’s stock valued at $1,169,000 after purchasing an additional 1,953 shares during the last quarter. 55.37% of the stock is currently owned by hedge funds and other institutional investors.

Pembina Pipeline Stock Performance

NYSE PBA opened at $38.49 on Thursday. The stock has a market capitalization of $22.36 billion, a price-to-earnings ratio of 18.07 and a beta of 0.76. Pembina Pipeline Corp. has a twelve month low of $34.13 and a twelve month high of $43.44. The company has a current ratio of 0.77, a quick ratio of 0.62 and a debt-to-equity ratio of 0.81. The stock has a 50-day moving average of $38.60 and a 200 day moving average of $37.89.

Pembina Pipeline Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Monday, September 15th were paid a dividend of $0.71 per share. This is an increase from Pembina Pipeline’s previous quarterly dividend of $0.51. The ex-dividend date was Monday, September 15th. This represents a $2.84 annualized dividend and a yield of 7.4%. Pembina Pipeline’s dividend payout ratio (DPR) is presently 97.18%.

Analysts Set New Price Targets

Several research firms have weighed in on PBA. Wells Fargo & Company downgraded Pembina Pipeline from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 6th. National Bank Financial upgraded Pembina Pipeline from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, June 25th. Wall Street Zen cut Pembina Pipeline from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Raymond James Financial reissued an “outperform” rating on shares of Pembina Pipeline in a report on Monday, August 11th. Finally, National Bankshares raised Pembina Pipeline from a “sector perform” rating to an “outperform” rating in a report on Thursday, June 26th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Pembina Pipeline currently has a consensus rating of “Moderate Buy”.

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.