Citigroup Inc. Purchases 39,664 Shares of Pembina Pipeline Co. (NYSE:PBA)

Citigroup Inc. increased its position in shares of Pembina Pipeline Co. (NYSE:PBA – Get Rating) (TSE:PPL) by 37.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 145,149 shares of the pipeline company’s stock after acquiring an additional 39,664 shares during the period. Citigroup Inc.’s holdings in Pembina Pipeline were worth $4,923,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. CWM LLC increased its holdings in Pembina Pipeline by 15.3% during the 4th quarter. CWM LLC now owns 2,421 shares of the pipeline company’s stock worth $82,000 after acquiring an additional 321 shares during the period. FORA Capital LLC increased its holdings in shares of Pembina Pipeline by 2.6% in the 3rd quarter. FORA Capital LLC now owns 15,259 shares of the pipeline company’s stock worth $463,000 after buying an additional 393 shares during the last quarter. Capital Investment Advisors LLC increased its holdings in shares of Pembina Pipeline by 0.8% in the 4th quarter. Capital Investment Advisors LLC now owns 51,907 shares of the pipeline company’s stock worth $1,762,000 after buying an additional 428 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Pembina Pipeline by 1.5% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 30,388 shares of the pipeline company’s stock worth $1,143,000 after buying an additional 438 shares during the last quarter. Finally, Belpointe Asset Management LLC increased its holdings in shares of Pembina Pipeline by 4.1% in the 4th quarter. Belpointe Asset Management LLC now owns 12,504 shares of the pipeline company’s stock worth $425,000 after buying an additional 497 shares during the last quarter. Institutional investors own 55.08% of the company’s stock.

Pembina Pipeline Trading Up 0.4 %

Shares of PBA opened at $31.12 on Friday. The stock has a market capitalization of $17.13 billion, a P/E ratio of 8.28, a PEG ratio of 4.97 and a beta of 1.28. The company has a quick ratio of 0.39, a current ratio of 0.46 and a debt-to-equity ratio of 0.70. The firm has a fifty day simple moving average of $32.20 and a two-hundred day simple moving average of $33.68. Pembina Pipeline Co. has a twelve month low of $29.59 and a twelve month high of $42.74.

Pembina Pipeline (NYSE:PBA – Get Rating) (TSE:PPL) last announced its quarterly earnings results on Thursday, February 23rd. The pipeline company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.23). Pembina Pipeline had a net margin of 26.15% and a return on equity of 14.59%. The firm had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.46 billion. On average, research analysts anticipate that Pembina Pipeline Co. will post 2.08 EPS for the current year.

Pembina Pipeline Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Thursday, June 15th will be given a $0.493 dividend. This represents a $1.97 annualized dividend and a dividend yield of 6.34%. This is a boost from Pembina Pipeline’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Wednesday, June 14th. Pembina Pipeline’s dividend payout ratio (DPR) is currently 50.80%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on PBA shares. Credit Suisse Group decreased their price target on shares of Pembina Pipeline from C$54.00 to C$53.00 in a report on Wednesday, April 5th. National Bank Financial upped their price objective on shares of Pembina Pipeline from C$46.00 to C$47.00 in a research note on Friday, January 27th. StockNews.com started coverage on shares of Pembina Pipeline in a research note on Thursday. They issued a “hold” rating for the company. Scotiabank upped their price objective on shares of Pembina Pipeline from C$50.00 to C$51.00 in a research note on Monday, February 27th. Finally, CIBC upped their price objective on shares of Pembina Pipeline from C$52.00 to C$53.00 in a research note on Monday, February 27th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $50.20.

About Pembina Pipeline

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Pembina Pipeline Corp. engages in the provision of transportation and midstream services. It operates through the following segments: Pipelines, Facilities, Marketing and New Ventures, and Corporate. The Pipelines segment includes conventional, oil sands and transmission pipeline systems, crude oil storage and terminalling business and related infrastructure.