Syon Capital LLC Makes New $284,000 Investment in Pembina Pipeline Co. (NYSE:PBA)

Syon Capital LLC acquired a new position in shares of Pembina Pipeline Co. (NYSE:PBA - Free Report) TSE: PPL in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,696 shares of the pipeline company's stock, valued at approximately $284,000.

Several other hedge funds have also recently bought and sold shares of the stock. Van ECK Associates Corp grew its holdings in Pembina Pipeline by 8.0% during the 4th quarter. Van ECK Associates Corp now owns 225,684 shares of the pipeline company's stock worth $8,335,000 after acquiring an additional 16,762 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Pembina Pipeline by 18.2% during the third 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 in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Pembina Pipeline by 1.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 22,903 shares of the pipeline company's stock worth $846,000 after purchasing an additional 348 shares in the last quarter. Jennison Associates LLC lifted its position in shares of Pembina Pipeline by 32.3% during the fourth quarter. Jennison Associates LLC now owns 616,992 shares of the pipeline company's stock worth $22,786,000 after purchasing an additional 150,689 shares in the last quarter. Finally, Bank of Nova Scotia Trust Co. lifted its position in shares of Pembina Pipeline by 20.9% during the fourth quarter. Bank of Nova Scotia Trust Co. now owns 337,379 shares of the pipeline company's stock worth $12,466,000 after purchasing an additional 58,366 shares in the last quarter. 55.37% of the stock is currently owned by institutional investors and hedge funds.

Pembina Pipeline Trading Up 0.2 %

NYSE PBA traded up $0.09 during trading hours on Thursday, hitting $38.29. The company's stock had a trading volume of 238,303 shares, compared to its average volume of 1,263,871. The stock has a fifty day moving average of $38.15 and a 200 day moving average of $38.67. Pembina Pipeline Co. has a twelve month low of $34.13 and a twelve month high of $43.44. The firm has a market capitalization of $22.24 billion, a P/E ratio of 15.83 and a beta of 0.89. 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 Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were issued a $0.4783 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $1.91 annualized dividend and a yield of 5.00%. Pembina Pipeline's dividend payout ratio is currently 86.76%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on PBA shares. TD Securities started coverage on shares of Pembina Pipeline in a research report on Wednesday, January 15th. They set a "buy" rating on the stock. Citigroup upgraded shares of Pembina Pipeline from a "neutral" rating to a "buy" rating in a research report on Monday, March 10th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Pembina Pipeline presently has an average rating of "Moderate Buy" and a consensus target price of $56.00.

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.