Shell Asset Management Co. Reduces Position in Pembina Pipeline Corp. $PBA

Shell Asset Management Co. trimmed its position in Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 35.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,118 shares of the pipeline company’s stock after selling 12,140 shares during the period. Shell Asset Management Co.’s holdings in Pembina Pipeline were worth $894,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently modified their holdings of PBA. Westside Investment Management Inc. lifted its stake in Pembina Pipeline by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 808 shares of the pipeline company’s stock valued at $32,000 after acquiring an additional 404 shares during the period. Physician Wealth Advisors Inc. boosted its stake in shares of Pembina Pipeline by 441.2% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 920 shares of the pipeline company’s stock worth $37,000 after acquiring an additional 750 shares in the last quarter. Golden State Wealth Management LLC acquired a new stake in Pembina Pipeline in the third quarter valued at approximately $40,000. Mather Group LLC. acquired a new stake in Pembina Pipeline in the 3rd quarter valued at $45,000. Finally, State of Wyoming acquired a new stake in shares of Pembina Pipeline in the second quarter valued at about $58,000. 55.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PBA has been the topic of a number of research analyst reports. BMO Capital Markets reaffirmed an “outperform” rating on shares of Pembina Pipeline in a research note on Tuesday, December 16th. TD Securities cut their price target on shares of Pembina Pipeline from $65.00 to $60.00 and set a “buy” rating for the company in a report on Tuesday, December 16th. Zacks Research upgraded Pembina Pipeline from a “strong sell” rating to a “hold” rating in a report on Friday, January 23rd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Pembina Pipeline in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Pembina Pipeline has an average rating of “Moderate Buy” and a consensus target price of $60.00.

Pembina Pipeline Stock Performance

NYSE:PBA opened at $44.35 on Tuesday. Pembina Pipeline Corp. has a fifty-two week low of $34.13 and a fifty-two week high of $44.60. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.41 and a current ratio of 0.53. The company has a 50 day moving average price of $39.49 and a 200 day moving average price of $38.76. The stock has a market capitalization of $25.77 billion, a P/E ratio of 22.17 and a beta of 0.68.

Pembina Pipeline Company Profile

Pembina Pipeline Corporation (NYSE: PBA) is a North American energy infrastructure company that develops, owns and operates midstream assets that transport, store and process hydrocarbons. Its core business focuses on the transportation of crude oil, natural gas liquids (NGLs) and condensate, along with gas processing, fractionation, storage and related marketing services. Pembina serves producers, refiners and other energy companies by providing pipeline capacity, terminal services and midstream solutions that link upstream production to downstream markets and export facilities.

The company’s asset base is concentrated in Western Canada, including major operations in Alberta and British Columbia, and it also has operations and commercial activities that extend into the United States.