Renaissance Technologies LLC Invests $3 Million in Pembina Pipeline Co. (NYSE:PBA)

Renaissance Technologies LLC bought a new stake in Pembina Pipeline Co. (NYSE:PBA - Free Report) TSE: PPL in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 81,063 shares of the pipeline company's stock, valued at approximately $2,995,000.

Other large investors have also modified their holdings of the company. MassMutual Private Wealth & Trust FSB grew its stake in Pembina Pipeline by 11.7% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,935 shares of the pipeline company's stock valued at $108,000 after acquiring an additional 308 shares during the last quarter. Headlands Technologies LLC grew its stake in Pembina Pipeline by 23.2% in the 4th quarter. Headlands Technologies LLC now owns 1,769 shares of the pipeline company's stock valued at $65,000 after acquiring an additional 333 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in Pembina Pipeline by 1.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 22,903 shares of the pipeline company's stock valued at $846,000 after acquiring an additional 348 shares during the last quarter. MONECO Advisors LLC grew its stake in Pembina Pipeline by 9.9% in the 4th quarter. MONECO Advisors LLC now owns 5,954 shares of the pipeline company's stock valued at $220,000 after acquiring an additional 537 shares during the last quarter. Finally, JCIC Asset Management Inc. grew its stake in Pembina Pipeline by 16.1% in the 4th quarter. JCIC Asset Management Inc. now owns 4,808 shares of the pipeline company's stock valued at $178,000 after acquiring an additional 668 shares during the last quarter. Institutional investors and hedge funds own 55.37% of the company's stock.

Analyst Upgrades and Downgrades

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

Pembina Pipeline Stock Down 0.5 %

NYSE:PBA traded down $0.19 on Tuesday, reaching $38.66. The stock had a trading volume of 40,457 shares, compared to its average volume of 1,264,229. 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 12-month low of $34.13 and a 12-month high of $43.44. The company has a 50-day moving average of $38.07 and a 200 day moving average of $38.68. The stock has a market cap of $22.46 billion, a P/E ratio of 15.99 and a beta of 0.89.

Pembina Pipeline Cuts Dividend

The business also recently announced 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. This represents a $1.91 annualized dividend and a dividend yield of 4.95%. The ex-dividend date of this dividend was Monday, March 17th. Pembina Pipeline's dividend payout ratio is 86.76%.

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.