Pembina Pipeline Co. (NYSE:PBA) Shares Bought by Bank of Nova Scotia Trust Co.

Bank of Nova Scotia Trust Co. grew its position in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 20.9% during the fourth quarter, Holdings Channel reports. The firm owned 337,379 shares of the pipeline company’s stock after acquiring an additional 58,366 shares during the period. Pembina Pipeline makes up approximately 1.3% of Bank of Nova Scotia Trust Co.’s portfolio, making the stock its 26th largest position. Bank of Nova Scotia Trust Co.’s holdings in Pembina Pipeline were worth $12,466,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. MML Investors Services LLC purchased a new position in Pembina Pipeline during the 3rd quarter worth approximately $228,000. Barclays PLC raised its holdings in shares of Pembina Pipeline by 86.5% during the third quarter. Barclays PLC now owns 53,970 shares of the pipeline company’s stock worth $2,226,000 after purchasing an additional 25,031 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Pembina Pipeline by 14.2% during the third quarter. Franklin Resources Inc. now owns 1,024,065 shares of the pipeline company’s stock worth $44,518,000 after purchasing an additional 127,027 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Pembina Pipeline by 18.2% during the third quarter. JPMorgan Chase & Co. now owns 4,049,470 shares of the pipeline company’s stock valued at $167,000,000 after purchasing an additional 624,958 shares during the period. Finally, Versant Capital Management Inc acquired a new stake in Pembina Pipeline during the 4th quarter worth about $27,000. 55.37% of the stock is currently owned by hedge funds and other institutional investors.

Pembina Pipeline Stock Performance

Shares of PBA stock opened at $37.96 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.51 and a debt-to-equity ratio of 0.79. Pembina Pipeline Co. has a 12-month low of $34.13 and a 12-month high of $43.44. The business’s 50 day moving average is $37.84 and its two-hundred day moving average is $38.90. The company has a market capitalization of $22.04 billion, a P/E ratio of 15.69 and a beta of 0.89.

Pembina Pipeline Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were paid a $0.4783 dividend. The ex-dividend date was Monday, March 17th. This represents a $1.91 dividend on an annualized basis and a yield of 5.04%. Pembina Pipeline’s dividend payout ratio is currently 86.76%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on PBA shares. Citigroup raised Pembina Pipeline from a “neutral” rating to a “buy” rating in a report on Monday, March 10th. TD Securities started coverage on Pembina Pipeline in a research report on Wednesday, January 15th. They issued a “buy” rating on the stock. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Pembina Pipeline 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.