Sigma Planning Corp Sells 1,514 Shares of Pembina Pipeline Co. (NYSE:PBA)

Sigma Planning Corp reduced its stake in shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 8.3% in the third quarter, HoldingsChannel.com reports. The firm owned 16,796 shares of the pipeline company’s stock after selling 1,514 shares during the period. Sigma Planning Corp’s holdings in Pembina Pipeline were worth $693,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cetera Advisors LLC raised its holdings in shares of Pembina Pipeline by 248.9% in the first quarter. Cetera Advisors LLC now owns 31,948 shares of the pipeline company’s stock valued at $1,129,000 after purchasing an additional 22,790 shares during the last quarter. Hillsdale Investment Management Inc. lifted its holdings in Pembina Pipeline by 13,721.7% during the first quarter. Hillsdale Investment Management Inc. now owns 72,702 shares of the pipeline company’s stock worth $2,567,000 after acquiring an additional 72,176 shares during the period. Intech Investment Management LLC bought a new stake in Pembina Pipeline during the first quarter worth $1,387,000. Vanguard Group Inc. lifted its holdings in Pembina Pipeline by 2.1% during the first quarter. Vanguard Group Inc. now owns 22,053,531 shares of the pipeline company’s stock worth $779,372,000 after acquiring an additional 460,761 shares during the period. Finally, Sequoia Financial Advisors LLC lifted its holdings in Pembina Pipeline by 7.2% during the third quarter. Sequoia Financial Advisors LLC now owns 12,767 shares of the pipeline company’s stock worth $527,000 after acquiring an additional 860 shares during the period. 55.37% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PBA. Citigroup boosted their target price on shares of Pembina Pipeline from $53.00 to $56.00 and gave the company a “neutral” rating in a research note on Wednesday, August 28th. UBS Group began coverage on shares of Pembina Pipeline in a research note on Wednesday, September 11th. They issued a “neutral” rating on the stock. Finally, Raymond James began coverage on shares of Pembina Pipeline in a research note on Friday, October 11th. They issued an “outperform” rating on the stock. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $56.50.

Pembina Pipeline Stock Up 0.7 %

Pembina Pipeline stock opened at $41.79 on Friday. Pembina Pipeline Co. has a 1-year low of $31.51 and a 1-year high of $43.44. The firm has a market capitalization of $24.26 billion, a price-to-earnings ratio of 17.33 and a beta of 1.25. The company has a current ratio of 0.65, a quick ratio of 0.51 and a debt-to-equity ratio of 0.79. The firm has a 50 day simple moving average of $41.70 and a 200 day simple moving average of $39.00.

Pembina Pipeline Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be paid a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 6.60%. This is a positive change from Pembina Pipeline’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Monday, December 16th. Pembina Pipeline’s payout ratio is currently 84.30%.

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.