Prosperity Consulting Group LLC Makes New $269,000 Investment in Pembina Pipeline Co. (NYSE:PBA)

Prosperity Consulting Group LLC purchased a new stake in Pembina Pipeline Co. (NYSE:PBA - Free Report) TSE: PPL during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 7,291 shares of the pipeline company's stock, valued at approximately $269,000.

Several other hedge funds and other institutional investors also recently modified their holdings of PBA. Versant Capital Management Inc bought a new position in shares of Pembina Pipeline in the fourth quarter worth $27,000. Sound Income Strategies LLC purchased a new stake in Pembina Pipeline during the fourth quarter valued at about $27,000. Eastern Bank purchased a new position in shares of Pembina Pipeline in the fourth quarter worth about $29,000. Principal Securities Inc. increased its holdings in shares of Pembina Pipeline by 2,597.1% in the fourth quarter. Principal Securities Inc. now owns 917 shares of the pipeline company's stock worth $34,000 after buying an additional 883 shares during the period. Finally, Venturi Wealth Management LLC increased its holdings in shares of Pembina Pipeline by 880.0% in the fourth quarter. Venturi Wealth Management LLC now owns 980 shares of the pipeline company's stock worth $36,000 after buying an additional 880 shares during the period. Institutional investors own 55.37% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Citigroup upgraded Pembina Pipeline from a "neutral" rating to a "buy" rating in a report on Monday, March 10th. TD Securities initiated coverage on Pembina Pipeline in a research note on Wednesday, January 15th. They issued a "buy" rating on the stock. 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 data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $56.00.

Pembina Pipeline Trading Up 0.8 %

Pembina Pipeline stock opened at $38.83 on Tuesday. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.65 and a quick ratio of 0.51. Pembina Pipeline Co. has a one year low of $34.13 and a one year high of $43.44. The stock has a market capitalization of $22.56 billion, a PE ratio of 16.05 and a beta of 0.89. The business's fifty day moving average is $38.07 and its 200 day moving average is $38.68.

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 given 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 4.93%. Pembina Pipeline's dividend payout ratio (DPR) is presently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.