Versor Investments LP Sells 1,300 Shares of Pembina Pipeline Co. (NYSE:PBA)

Versor Investments LP trimmed its position in shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 8.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,920 shares of the pipeline company’s stock after selling 1,300 shares during the period. Versor Investments LP’s holdings in Pembina Pipeline were worth $615,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Fiera Capital Corp increased its holdings in Pembina Pipeline by 15.5% during the 3rd quarter. Fiera Capital Corp now owns 1,196,390 shares of the pipeline company’s stock valued at $49,381,000 after purchasing an additional 160,946 shares during the period. Gold Investment Management Ltd. increased its stake in shares of Pembina Pipeline by 4.2% during the third quarter. Gold Investment Management Ltd. now owns 11,001 shares of the pipeline company’s stock valued at $453,000 after buying an additional 439 shares during the period. Heronetta Management L.P. raised its holdings in shares of Pembina Pipeline by 2.1% during the third quarter. Heronetta Management L.P. now owns 195,698 shares of the pipeline company’s stock valued at $8,071,000 after acquiring an additional 4,000 shares in the last quarter. Keudell Morrison Wealth Management purchased a new stake in Pembina Pipeline in the third quarter worth $204,000. Finally, Harvest Portfolios Group Inc. boosted its holdings in Pembina Pipeline by 1.0% in the third quarter. Harvest Portfolios Group Inc. now owns 261,407 shares of the pipeline company’s stock valued at $10,776,000 after acquiring an additional 2,630 shares in the last quarter. 55.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Pembina Pipeline Stock Up 0.2 %

NYSE:PBA opened at $41.52 on Thursday. 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 firm’s 50-day moving average price is $41.68 and its 200-day moving average price is $38.98. The company has a market capitalization of $24.10 billion, a PE ratio of 17.05 and a beta of 1.25. Pembina Pipeline Co. has a 1-year low of $31.51 and a 1-year high of $43.44.

Pembina Pipeline Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be issued a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 6.65%. The ex-dividend date of this dividend is Monday, December 16th. This is a boost from Pembina Pipeline’s previous quarterly dividend of $0.50. Pembina Pipeline’s dividend payout ratio is 84.30%.

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.