Blackstone Inc. Reduces Stock Position in Pembina Pipeline Co. (NYSE:PBA)

Blackstone Inc. reduced its holdings in shares of Pembina Pipeline Co. (NYSE:PBA - Free Report) TSE: PPL by 37.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,745,771 shares of the pipeline company's stock after selling 2,877,683 shares during the quarter. Pembina Pipeline makes up approximately 0.8% of Blackstone Inc.'s holdings, making the stock its 22nd biggest position. Blackstone Inc. owned approximately 0.82% of Pembina Pipeline worth $175,356,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Pembina Pipeline during the 4th quarter valued at approximately $171,860,000. Arrowstreet Capital Limited Partnership acquired a new position in Pembina Pipeline in the fourth quarter valued at $73,073,000. Hillsdale Investment Management Inc. boosted its position in shares of Pembina Pipeline by 338.7% during the 4th quarter. Hillsdale Investment Management Inc. now owns 1,289,706 shares of the pipeline company's stock valued at $47,598,000 after purchasing an additional 995,735 shares in the last quarter. AGF Management Ltd. grew its position in shares of 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. Finally, Geode Capital Management LLC increased its stake in Pembina Pipeline by 30.4% in the fourth quarter. Geode Capital Management LLC now owns 3,539,660 shares of the pipeline company's stock valued at $133,449,000 after purchasing an additional 824,232 shares in the last quarter. 55.37% of the stock is owned by institutional investors.

Pembina Pipeline Stock Up 1.2 %

Shares of NYSE PBA traded up $0.45 during trading on Wednesday, reaching $39.45. The company had a trading volume of 809,762 shares, compared to its average volume of 1,264,287. The stock has a market cap of $22.92 billion, a PE ratio of 16.30 and a beta of 0.81. 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 12-month low of $34.13 and a 12-month high of $43.44. The business's 50-day moving average is $38.38 and its 200 day moving average is $38.54.

Pembina Pipeline Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders 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 dividend yield of 4.85%. Pembina Pipeline's dividend payout ratio (DPR) is currently 86.76%.

Wall Street Analysts Forecast Growth

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

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.