Prosperity Consulting Group LLC Purchases New Holdings in Pembina Pipeline Co. (NYSE:PBA)

Prosperity Consulting Group LLC bought a new stake in shares of Pembina Pipeline Co. (NYSE:PBA - Free Report) TSE: PPL during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 7,291 shares of the pipeline company's stock, valued at approximately $269,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of PBA. Norges Bank acquired a new stake in Pembina Pipeline during the fourth quarter worth about $171,860,000. Arrowstreet Capital Limited Partnership purchased a new position in Pembina Pipeline during the fourth quarter valued at $73,073,000. Hillsdale Investment Management Inc. boosted its holdings in Pembina Pipeline by 338.7% in the 4th quarter. Hillsdale Investment Management Inc. now owns 1,289,706 shares of the pipeline company's stock worth $47,598,000 after buying an additional 995,735 shares during the last quarter. AGF Management Ltd. increased its position in shares of Pembina Pipeline by 612.7% during the fourth quarter. AGF Management Ltd. now owns 1,080,853 shares of the pipeline company's stock worth $40,025,000 after purchasing an additional 929,206 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of 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 buying an additional 824,232 shares during the last quarter. 55.37% of the stock is owned by hedge funds and other institutional investors.

Pembina Pipeline Stock Up 1.4 %

Shares of NYSE PBA traded up $0.54 on Friday, hitting $39.09. The company had a trading volume of 812,082 shares, compared to its average volume of 1,267,027. 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 has a 50 day moving average of $38.26 and a two-hundred day moving average of $38.56. The firm has a market capitalization of $22.71 billion, a P/E ratio of 16.15 and a beta of 0.89.

Pembina Pipeline Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were given a dividend of $0.4783 per share. This represents a $1.91 annualized dividend and a dividend yield of 4.89%. The ex-dividend date was Monday, March 17th. Pembina Pipeline's dividend payout ratio is currently 86.76%.

Analyst Ratings Changes

Several brokerages recently issued reports on PBA. TD Securities initiated coverage on shares of Pembina Pipeline in a report on Wednesday, January 15th. They issued a "buy" rating on the stock. Citigroup upgraded 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 issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $56.00.

Pembina Pipeline 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.