Hillsdale Investment Management Inc. Acquires 995,735 Shares of Pembina Pipeline Co. (NYSE:PBA)

Hillsdale Investment Management Inc. increased its holdings in shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 338.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 1,289,706 shares of the pipeline company’s stock after acquiring an additional 995,735 shares during the quarter. Pembina Pipeline comprises about 2.4% of Hillsdale Investment Management Inc.’s holdings, making the stock its 8th largest position. Hillsdale Investment Management Inc.’s holdings in Pembina Pipeline were worth $47,598,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in PBA. The Manufacturers Life Insurance Company boosted its position in Pembina Pipeline by 71.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 3,163,711 shares of the pipeline company’s stock worth $130,501,000 after buying an additional 1,319,709 shares during the period. AGF Management Ltd. boosted 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 worth $40,025,000 after buying an additional 929,206 shares during the period. JPMorgan Chase & Co. raised its holdings in Pembina Pipeline by 18.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,049,470 shares of the pipeline company’s stock worth $167,000,000 after purchasing an additional 624,958 shares during the last quarter. FMR LLC raised its holdings in Pembina Pipeline by 1,396.8% during the 3rd quarter. FMR LLC now owns 547,448 shares of the pipeline company’s stock worth $22,573,000 after purchasing an additional 510,873 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its holdings in Pembina Pipeline by 114.4% during the 3rd quarter. Point72 Asset Management L.P. now owns 536,545 shares of the pipeline company’s stock worth $22,121,000 after purchasing an additional 286,267 shares during the last quarter. 55.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on PBA. Wells Fargo & Company lowered shares of Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Citigroup upgraded shares of Pembina Pipeline from a “neutral” rating to a “buy” rating in a report on Monday, March 10th. Barclays began coverage on shares of Pembina Pipeline in a report on Thursday, December 12th. They set an “overweight” rating for the company. Finally, TD Securities began coverage on shares of Pembina Pipeline in a report on Wednesday, January 15th. They set a “buy” rating for the company. Four equities 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, Pembina Pipeline currently has an average rating of “Moderate Buy” and an average target price of $56.50.

Pembina Pipeline Stock Performance

NYSE:PBA opened at $39.69 on Friday. The company has a fifty day moving average of $37.28 and a 200-day moving average of $39.32. The firm has a market capitalization of $23.04 billion, a P/E ratio of 16.40 and a beta of 1.26. The company has a quick ratio of 0.51, a current ratio of 0.65 and a debt-to-equity ratio of 0.79. Pembina Pipeline Co. has a twelve month low of $33.83 and a twelve month high of $43.44.

Pembina Pipeline Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be paid a $0.4783 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.91 annualized dividend and a dividend yield of 4.82%. Pembina Pipeline’s dividend payout ratio is currently 86.76%.

Pembina Pipeline Company 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.