Hartland & Co. LLC bought a new position in Pembina Pipeline Corp (NYSE:PBA) (TSE:PPL) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 12,750 shares of the pipeline company’s stock, valued at approximately $448,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Linscomb & Williams Inc. acquired a new stake in shares of Pembina Pipeline in the second quarter valued at $116,000. San Francisco Sentry Investment Group CA acquired a new stake in Pembina Pipeline in the second quarter worth about $132,000. Pinebridge Investments L.P. acquired a new stake in Pembina Pipeline in the second quarter worth about $146,000. HPM Partners LLC increased its position 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 purchasing an additional 48,910 shares during the period. Finally, Prudential PLC acquired a new stake in Pembina Pipeline in the second quarter worth about $202,000. 42.45% of the stock is owned by institutional investors.
Pembina Pipeline Corp (NYSE:PBA) traded up $0.24 during mid-day trading on Wednesday, hitting $35.07. The company had a trading volume of 361,900 shares, compared to its average volume of 373,061. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.78 and a quick ratio of 0.60. The firm has a market cap of $17,500.89, a price-to-earnings ratio of 35.18 and a beta of 0.74. Pembina Pipeline Corp has a 1-year low of $29.36 and a 1-year high of $36.29.
A number of equities analysts have issued reports on the company. Macquarie cut 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 issued a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $41.50.
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About Pembina Pipeline
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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