Candriam Luxembourg S.C.A. Reduces Position in Pembina Pipeline Corp. (PBA)
Candriam Luxembourg S.C.A. reduced its position in shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 11.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 49,874 shares of the pipeline company’s stock after selling 6,514 shares during the quarter. Candriam Luxembourg S.C.A.’s holdings in Pembina Pipeline Corp. were worth $1,746,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the stock. HighTower Advisors LLC raised its stake in Pembina Pipeline Corp. by 1.2% during the 1st quarter. HighTower Advisors LLC now owns 7,730 shares of the pipeline company’s stock worth $245,000 after buying an additional 93 shares during the period. Girard Partners LTD. raised its stake in Pembina Pipeline Corp. by 0.9% during the 2nd quarter. Girard Partners LTD. now owns 11,498 shares of the pipeline company’s stock worth $381,000 after buying an additional 97 shares during the period. Sei Investments Co. raised its stake in Pembina Pipeline Corp. by 0.5% during the 2nd quarter. Sei Investments Co. now owns 24,708 shares of the pipeline company’s stock worth $818,000 after buying an additional 125 shares during the period. Schroder Investment Management Group raised its stake in Pembina Pipeline Corp. by 0.7% during the 2nd quarter. Schroder Investment Management Group now owns 42,207 shares of the pipeline company’s stock worth $1,811,000 after buying an additional 275 shares during the period. Finally, Bard Associates Inc. raised its stake in Pembina Pipeline Corp. by 0.5% during the 2nd quarter. Bard Associates Inc. now owns 54,992 shares of the pipeline company’s stock worth $1,821,000 after buying an additional 300 shares during the period. 40.78% of the stock is currently owned by institutional investors and hedge funds.
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Several analysts have recently commented on the company. Zacks Investment Research raised Pembina Pipeline Corp. from a “hold” rating to a “buy” rating and set a $39.00 price objective for the company in a research note on Friday, July 21st. BidaskClub raised Pembina Pipeline Corp. from a “hold” rating to a “buy” rating in a research note on Tuesday, July 25th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $41.50.
Shares of Pembina Pipeline Corp. (PBA) opened at $34.78 on Friday. The company has a market capitalization of $17,510.00, a P/E ratio of 35.58 and a beta of 0.72. Pembina Pipeline Corp. has a 52 week low of $28.30 and a 52 week high of $36.29. The company has a quick ratio of 0.60, a current ratio of 0.78 and a debt-to-equity ratio of 0.75.
The business also recently disclosed a nov 17 dividend, which will be paid on Friday, December 15th. Stockholders of record on Saturday, November 25th will be paid a $0.18 dividend. This represents a dividend yield of 4.73%. The ex-dividend date of this dividend is Wednesday, November 22nd. Pembina Pipeline Corp.’s dividend payout ratio (DPR) is presently 171.72%.
Pembina Pipeline Corp. Profile
Pembina Pipeline Corporation is an energy transportation and service provider. The Company operates through four segments. The Conventional Pipelines segment consists of the tariff-based operations of pipelines and related facilities to deliver crude oil, condensate and natural gas liquids (NGL) in Alberta, British Columbia, Saskatchewan, and North Dakota, United States.
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