Brookfield Corp ON Sells 702,180 Shares of Pembina Pipeline Co. (NYSE:PBA)

Brookfield Corp ON reduced its position in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 97.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,622 shares of the pipeline company’s stock after selling 702,180 shares during the quarter. Brookfield Corp ON’s holdings in Pembina Pipeline were worth $644,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Godsey & Gibb Inc. bought a new position in shares of Pembina Pipeline in the third quarter worth $25,000. Safe Harbor Fiduciary LLC purchased a new stake in shares of Pembina Pipeline in the third quarter worth about $26,000. Prospera Private Wealth LLC purchased a new stake in shares of Pembina Pipeline in the third quarter worth $26,000. Blue Trust Inc. raised its holdings in shares of Pembina Pipeline by 223.8% in the 3rd quarter. Blue Trust Inc. now owns 735 shares of the pipeline company’s stock valued at $30,000 after acquiring an additional 508 shares in the last quarter. Finally, CENTRAL TRUST Co grew its holdings in shares of Pembina Pipeline by 65.0% during the third quarter. CENTRAL TRUST Co now owns 825 shares of the pipeline company’s stock worth $34,000 after purchasing an additional 325 shares in the last quarter. Hedge funds and other institutional investors own 55.37% of the company’s stock.

Pembina Pipeline Stock Performance

NYSE:PBA opened at $39.44 on Friday. 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 Co. has a fifty-two week low of $32.39 and a fifty-two week high of $43.44. The business has a 50 day moving average price of $41.93 and a 200-day moving average price of $39.56. The firm has a market cap of $22.90 billion, a PE ratio of 16.30 and a beta of 1.24.

Pembina Pipeline Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be given a $0.69 dividend. This is a boost from Pembina Pipeline’s previous quarterly dividend of $0.50. The ex-dividend date is Monday, December 16th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 7.00%. Pembina Pipeline’s payout ratio is presently 84.30%.

Wall Street Analyst Weigh In

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

Pembina Pipeline 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.