76,634 Shares in Pembina Pipeline Co. (NYSE:PBA) Purchased by Raymond James Financial Inc.

Raymond James Financial Inc. purchased a new position in shares of Pembina Pipeline Co. (NYSE:PBA - Free Report) TSE: PPL during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 76,634 shares of the pipeline company's stock, valued at approximately $2,832,000.

Several other institutional investors also recently added to or reduced their stakes in PBA. Sound Income Strategies LLC purchased a new position in shares of Pembina Pipeline during the fourth quarter worth approximately $27,000. Versant Capital Management Inc acquired a new stake in Pembina Pipeline during the 4th quarter worth $27,000. Eastern Bank purchased a new position in Pembina Pipeline during the 4th quarter worth $29,000. Principal Securities Inc. increased its stake in Pembina Pipeline by 2,597.1% in the fourth quarter. Principal Securities Inc. now owns 917 shares of the pipeline company's stock valued at $34,000 after purchasing an additional 883 shares during the period. Finally, Venturi Wealth Management LLC raised 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 valued at $36,000 after buying an additional 880 shares during the last quarter. Institutional investors and hedge funds own 55.37% of the company's stock.

Pembina Pipeline Stock Performance

NYSE:PBA traded up $0.54 during mid-day trading on Friday, reaching $39.09. The stock had a trading volume of 812,082 shares, compared to its average volume of 1,267,027. Pembina Pipeline Co. has a twelve month low of $34.13 and a twelve month high of $43.44. The business has a 50 day simple moving average of $38.26 and a 200 day simple moving average of $38.59. The firm has a market capitalization of $22.71 billion, a price-to-earnings ratio of 16.15 and a beta of 0.89. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.51 and a current ratio of 0.65.

Pembina Pipeline Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were paid a $0.4783 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $1.91 dividend on an annualized basis and a dividend yield of 4.89%. Pembina Pipeline's dividend payout ratio (DPR) is presently 86.76%.

Analysts Set New Price Targets

PBA has been the topic of a number of research reports. TD Securities assumed coverage on Pembina Pipeline in a report on Wednesday, January 15th. They set a "buy" rating on the stock. Citigroup upgraded Pembina Pipeline from a "neutral" rating to a "buy" rating in a research note on Monday, March 10th. Four 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, the company has a consensus rating of "Moderate Buy" and a consensus price target 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.