Norges Bank Makes New Investment in Pembina Pipeline Co. (NYSE:PBA)

Norges Bank acquired a new stake in shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,657,463 shares of the pipeline company’s stock, valued at approximately $171,860,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Hillsdale Investment Management Inc. lifted its position in Pembina Pipeline by 338.7% in the fourth quarter. Hillsdale Investment Management Inc. now owns 1,289,706 shares of the pipeline company’s stock worth $47,598,000 after buying an additional 995,735 shares during the last quarter. AGF Management Ltd. raised its stake in shares of Pembina Pipeline by 612.7% in the fourth quarter. AGF Management Ltd. now owns 1,080,853 shares of the pipeline company’s stock valued at $40,025,000 after acquiring an additional 929,206 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Pembina Pipeline by 3.2% in the 4th quarter. Vanguard Group Inc. now owns 24,887,077 shares of the pipeline company’s stock worth $919,503,000 after acquiring an additional 770,729 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Pembina Pipeline by 18.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,049,470 shares of the pipeline company’s stock worth $167,000,000 after purchasing an additional 624,958 shares during the period. Finally, FMR LLC grew its holdings in Pembina Pipeline by 1,396.8% during the 3rd quarter. FMR LLC now owns 547,448 shares of the pipeline company’s stock valued at $22,573,000 after purchasing an additional 510,873 shares during the last quarter. Hedge funds and other institutional investors own 55.37% of the company’s stock.

Pembina Pipeline Stock Up 0.1 %

Shares of NYSE:PBA opened at $39.91 on Monday. The business’s 50 day moving average is $37.59 and its 200 day moving average is $39.28. The stock has a market cap of $23.17 billion, a P/E ratio of 16.49 and a beta of 1.26. Pembina Pipeline Co. has a 52-week low of $33.83 and a 52-week high of $43.44. The company has a quick ratio of 0.51, a current ratio of 0.65 and a debt-to-equity ratio of 0.79.

Pembina Pipeline Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be given a dividend of $0.4783 per share. This represents a $1.91 dividend on an annualized basis and a dividend yield of 4.79%. The ex-dividend date is Monday, March 17th. Pembina Pipeline’s payout ratio is 86.76%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Wells Fargo & Company downgraded shares of Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Barclays initiated coverage on Pembina Pipeline in a research note on Thursday, December 12th. They set an “overweight” rating for the company. Citigroup raised Pembina Pipeline from a “neutral” rating to a “buy” rating in a research report on Monday, March 10th. Finally, TD Securities assumed coverage on Pembina Pipeline in a research report on Wednesday, January 15th. They set a “buy” rating for the company. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Pembina Pipeline currently has an average rating of “Moderate Buy” and an average price target of $56.50.

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.