CANADA LIFE ASSURANCE Co Grows Holdings in Pembina Pipeline Co. (NYSE:PBA)

CANADA LIFE ASSURANCE Co grew its stake in Pembina Pipeline Co. (NYSE:PBA - Free Report) TSE: PPL by 3.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 691,468 shares of the pipeline company's stock after purchasing an additional 20,534 shares during the quarter. CANADA LIFE ASSURANCE Co owned about 0.12% of Pembina Pipeline worth $25,515,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of PBA. NewEdge Advisors LLC grew its holdings in shares of Pembina Pipeline by 4.5% during the 4th quarter. NewEdge Advisors LLC now owns 9,883 shares of the pipeline company's stock worth $365,000 after acquiring an additional 430 shares during the period. Guggenheim Capital LLC raised its holdings in Pembina Pipeline by 6.6% in the fourth quarter. Guggenheim Capital LLC now owns 25,055 shares of the pipeline company's stock worth $926,000 after purchasing an additional 1,543 shares in the last quarter. XTX Topco Ltd bought a new position in Pembina Pipeline in the fourth quarter worth $389,000. Barclays PLC boosted its holdings in shares of Pembina Pipeline by 284.1% during the 4th quarter. Barclays PLC now owns 207,306 shares of the pipeline company's stock valued at $7,660,000 after buying an additional 153,336 shares in the last quarter. Finally, Scotia Capital Inc. boosted its holdings in shares of Pembina Pipeline by 1.7% during the 4th quarter. Scotia Capital Inc. now owns 4,969,977 shares of the pipeline company's stock valued at $183,596,000 after buying an additional 85,121 shares in the last quarter. 55.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PBA has been the subject of a number of recent research reports. TD Securities assumed coverage on shares of Pembina Pipeline in a research report on Wednesday, January 15th. They set a "buy" rating for the company. Citigroup upgraded Pembina Pipeline from a "neutral" rating to a "buy" rating in a research note on Monday, March 10th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $56.00.

Pembina Pipeline Stock Performance

Shares of NYSE PBA traded down $0.04 during midday trading on Friday, hitting $38.32. 186,882 shares of the company's stock traded hands, compared to its average volume of 1,266,343. The firm has a fifty day moving average of $37.98 and a 200 day moving average of $38.78. Pembina Pipeline Co. has a 1 year low of $34.13 and a 1 year high of $43.44. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.51 and a current ratio of 0.65. The stock has a market capitalization of $22.25 billion, a price-to-earnings ratio of 15.83 and a beta of 0.89.

Pembina Pipeline Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were given a dividend of $0.4783 per share. This represents a $1.91 dividend on an annualized basis and a dividend yield of 4.99%. The ex-dividend date of this dividend was Monday, March 17th. Pembina Pipeline's payout ratio is 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.