First Republic Investment Management Inc. Reduces Position in Pembina Pipeline Corp (PBA)

First Republic Investment Management Inc. trimmed its stake in Pembina Pipeline Corp (NYSE:PBA) (TSE:PPL) by 14.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,042,394 shares of the pipeline company’s stock after selling 171,588 shares during the quarter. First Republic Investment Management Inc. owned 0.21% of Pembina Pipeline worth $36,588,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Linscomb & Williams Inc. bought a new stake in Pembina Pipeline in the second quarter worth $116,000. San Francisco Sentry Investment Group CA bought a new stake in Pembina Pipeline in the second quarter worth $132,000. Pinebridge Investments L.P. bought a new stake in Pembina Pipeline in the second quarter worth $146,000. HPM Partners LLC boosted its holdings in Pembina Pipeline by 213.5% in the second quarter. HPM Partners LLC now owns 71,821 shares of the pipeline company’s stock worth $177,000 after acquiring an additional 48,910 shares in the last quarter. Finally, Prudential PLC bought a new stake in Pembina Pipeline in the second quarter worth $202,000. 42.45% of the stock is currently owned by institutional investors and hedge funds.

Pembina Pipeline Corp (PBA) traded down $0.12 during mid-day trading on Thursday, hitting $34.95. The stock had a trading volume of 493,500 shares, compared to its average volume of 373,573. Pembina Pipeline Corp has a 52-week low of $29.47 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 stock has a market capitalization of $17,621.48, a PE ratio of 35.42 and a beta of 0.74.

The firm also recently declared 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 is Wednesday, November 22nd. Pembina Pipeline’s dividend payout ratio is currently 171.72%.

PBA has been the topic of several analyst reports. Macquarie downgraded Pembina Pipeline from an “outperform” rating to a “neutral” rating in a report on Wednesday, November 29th. Zacks Investment Research cut Pembina Pipeline from a “hold” rating to a “sell” rating in a research note on Wednesday, November 29th. Finally, BidaskClub cut Pembina Pipeline from a “sell” rating to a “strong sell” rating in a research note on Monday, August 14th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $41.50.

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Pembina Pipeline 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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Institutional Ownership by Quarter for Pembina Pipeline (NYSE:PBA)

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