Pembina Pipeline Co. (NYSE:PBA) Short Interest Up 49.1% in November

Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) saw a significant increase in short interest in November. As of November 30th, there was short interest totalling 6,950,000 shares, an increase of 49.1% from the November 15th total of 4,660,000 shares. Based on an average trading volume of 1,090,000 shares, the short-interest ratio is currently 6.4 days. Currently, 1.2% of the shares of the company are sold short.

Institutional Trading of Pembina Pipeline

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Godsey & Gibb Inc. bought a new position in Pembina Pipeline during the 3rd quarter valued at approximately $25,000. Prospera Private Wealth LLC purchased a new stake in Pembina Pipeline during the 3rd quarter valued at $26,000. Safe Harbor Fiduciary LLC bought a new stake in shares of Pembina Pipeline in the 3rd quarter worth $26,000. Dunhill Financial LLC purchased a new position in shares of Pembina Pipeline in the third quarter worth $28,000. Finally, Blue Trust Inc. raised its stake in shares of Pembina Pipeline by 223.8% in the third quarter. Blue Trust Inc. now owns 735 shares of the pipeline company’s stock worth $30,000 after purchasing an additional 508 shares during the last quarter. 55.37% of the stock is owned by hedge funds and other institutional investors.

Pembina Pipeline Trading Down 0.8 %

Shares of NYSE PBA traded down $0.29 during trading hours on Friday, hitting $38.31. The company’s stock had a trading volume of 79,110 shares, compared to its average volume of 1,126,946. The business has a 50-day simple moving average of $41.65 and a 200-day simple moving average of $39.64. The stock has a market cap of $22.24 billion, a price-to-earnings ratio of 15.96 and a beta of 1.24. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.51 and a current ratio of 0.65. Pembina Pipeline has a 12 month low of $32.39 and a 12 month high of $43.44.

Pembina Pipeline Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be given a dividend of $0.69 per share. The ex-dividend date is Monday, December 16th. This is a positive change from Pembina Pipeline’s previous quarterly dividend of $0.50. This represents a $2.76 annualized dividend and a dividend yield of 7.20%. Pembina Pipeline’s payout ratio is currently 84.30%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on PBA. Barclays initiated coverage on Pembina Pipeline in a research report on Thursday. They issued an “overweight” rating for the company. Raymond James assumed coverage on shares of Pembina Pipeline in a research report on Friday, October 11th. They set an “outperform” rating for the company. Citigroup boosted their price target on shares of Pembina Pipeline from $53.00 to $56.00 and gave the company a “neutral” rating in a research report on Wednesday, August 28th. Finally, UBS Group began coverage on shares of Pembina Pipeline in a report on Wednesday, September 11th. They set a “neutral” rating on the stock. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $56.50.

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.