UniSuper Management Pty Ltd Sells 225,113 Shares of Pembina Pipeline Co. (NYSE:PBA)

UniSuper Management Pty Ltd cut its holdings in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 18.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 972,943 shares of the pipeline company’s stock after selling 225,113 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Pembina Pipeline were worth $35,950,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. The Manufacturers Life Insurance Company grew its holdings 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 worth $130,501,000 after purchasing an additional 1,319,709 shares during the period. Hillsdale Investment Management Inc. grew its stake in shares of Pembina Pipeline by 338.7% in the 4th 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. increased its position in Pembina Pipeline by 612.7% during the 4th quarter. AGF Management Ltd. now owns 1,080,853 shares of the pipeline company’s stock valued at $40,025,000 after buying an additional 929,206 shares in the last quarter. Vanguard Group Inc. raised its stake in Pembina Pipeline by 3.2% during the fourth quarter. Vanguard Group Inc. now owns 24,887,077 shares of the pipeline company’s stock valued at $919,503,000 after buying an additional 770,729 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Pembina Pipeline by 18.2% in the third quarter. JPMorgan Chase & Co. now owns 4,049,470 shares of the pipeline company’s stock worth $167,000,000 after acquiring an additional 624,958 shares in the last quarter. 55.37% of the stock is currently owned by institutional investors.

Pembina Pipeline Price Performance

NYSE PBA opened at $40.09 on Thursday. The stock has a market capitalization of $23.27 billion, a price-to-earnings ratio of 16.56 and a beta of 1.26. Pembina Pipeline Co. has a 1-year low of $33.83 and a 1-year high of $43.44. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.65 and a quick ratio of 0.51. The business’s fifty day moving average price is $37.49 and its 200-day moving average price is $39.30.

Pembina Pipeline Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be paid a dividend of $0.4783 per share. The ex-dividend date is Monday, March 17th. This represents a $1.91 dividend on an annualized basis and a dividend yield of 4.77%. Pembina Pipeline’s dividend payout ratio is currently 86.76%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on PBA shares. TD Securities initiated coverage on Pembina Pipeline in a report on Wednesday, January 15th. They set a “buy” rating for the company. 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 downgraded shares of Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Finally, Barclays initiated coverage on Pembina Pipeline in a research report on Thursday, December 12th. They issued an “overweight” rating on the stock. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.