Mufg Securities Canada LTD. Sells 678,355 Shares of Pembina Pipeline Co. (NYSE:PBA)

Mufg Securities Canada LTD. reduced its position in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 43.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 886,490 shares of the pipeline company’s stock after selling 678,355 shares during the quarter. Pembina Pipeline makes up 1.2% of Mufg Securities Canada LTD.’s portfolio, making the stock its 25th largest holding. Mufg Securities Canada LTD. owned approximately 0.15% of Pembina Pipeline worth $32,732,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of PBA. Vanguard Group Inc. boosted its position in shares of Pembina Pipeline by 3.2% during the 4th quarter. Vanguard Group Inc. now owns 24,887,077 shares of the pipeline company’s stock valued at $919,503,000 after acquiring an additional 770,729 shares in the last quarter. TD Asset Management Inc. raised its holdings in shares of Pembina Pipeline by 5.4% in the 4th quarter. TD Asset Management Inc. now owns 6,789,722 shares of the pipeline company’s stock worth $250,732,000 after buying an additional 347,872 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Pembina Pipeline by 0.5% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,249,624 shares of the pipeline company’s stock worth $230,610,000 after buying an additional 32,519 shares during the period. JPMorgan Chase & Co. boosted its stake in Pembina Pipeline by 18.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,049,470 shares of the pipeline company’s stock valued at $167,000,000 after buying an additional 624,958 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in Pembina Pipeline by 71.6% in the third quarter. The Manufacturers Life Insurance Company now owns 3,163,711 shares of the pipeline company’s stock valued at $130,501,000 after acquiring an additional 1,319,709 shares during the period. Institutional investors and hedge funds own 55.37% of the company’s stock.

Pembina Pipeline Price Performance

Shares of PBA stock opened at $40.10 on Wednesday. The company has a current ratio of 0.65, a quick ratio of 0.51 and a debt-to-equity ratio of 0.79. The firm has a market capitalization of $23.28 billion, a price-to-earnings ratio of 16.57 and a beta of 1.26. The firm’s 50 day moving average is $37.43 and its 200-day moving average is $39.30. Pembina Pipeline Co. has a 1 year low of $33.83 and a 1 year high of $43.44.

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 paid a dividend of $0.4783 per share. This represents a $1.91 annualized dividend and a dividend yield of 4.77%. The ex-dividend date of this dividend is Monday, March 17th. Pembina Pipeline’s dividend payout ratio (DPR) is presently 86.76%.

Wall Street Analyst Weigh In

PBA has been the topic of several recent analyst reports. Citigroup upgraded shares of Pembina Pipeline from a “neutral” rating to a “buy” rating in a research note on Monday, March 10th. Wells Fargo & Company cut 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 shares of Pembina Pipeline in a research note on Thursday, December 12th. They issued an “overweight” rating for the company. Finally, TD Securities began coverage on Pembina Pipeline in a research report on Wednesday, January 15th. They set a “buy” rating on the stock. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Pembina Pipeline has an average rating of “Moderate Buy” and an average 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.