Hsbc Holdings PLC Acquires 29,427 Shares of Pembina Pipeline Co. (NYSE:PBA)

Hsbc Holdings PLC lifted its position in Pembina Pipeline Co. (NYSE:PBA - Free Report) TSE: PPL by 2.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,141,770 shares of the pipeline company's stock after buying an additional 29,427 shares during the quarter. Hsbc Holdings PLC owned about 0.20% of Pembina Pipeline worth $42,147,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of PBA. Vanguard Group Inc. increased its position in shares of Pembina Pipeline by 3.2% during the fourth quarter. Vanguard Group Inc. now owns 24,887,077 shares of the pipeline company's stock valued at $919,503,000 after purchasing an additional 770,729 shares during the period. TD Asset Management Inc. raised its holdings in shares of Pembina Pipeline by 5.4% in the 4th quarter. TD Asset Management Inc. now owns 6,789,722 shares of the pipeline company's stock worth $250,732,000 after buying an additional 347,872 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Pembina Pipeline by 0.5% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,249,624 shares of the pipeline company's stock worth $230,610,000 after buying an additional 32,519 shares during the period. Scotia Capital Inc. boosted its stake in shares of Pembina Pipeline by 1.7% in the 4th quarter. Scotia Capital Inc. now owns 4,969,977 shares of the pipeline company's stock valued at $183,596,000 after purchasing an additional 85,121 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Pembina Pipeline during the fourth quarter worth approximately $171,860,000. 55.37% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Pembina Pipeline Price Performance

NYSE PBA traded up $0.21 on Thursday, hitting $38.41. 208,686 shares of the company's stock were exchanged, compared to its average volume of 1,357,765. 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 52 week low of $34.13 and a 52 week high of $43.44. The stock has a market cap of $22.31 billion, a price-to-earnings ratio of 15.87 and a beta of 0.89. The stock has a 50-day moving average of $38.15 and a 200-day moving average of $38.67.

Pembina Pipeline Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were issued a dividend of $0.4783 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $1.91 annualized dividend and a dividend yield of 4.98%. 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.