Montrusco Bolton Investments Inc. Sells 44,143 Shares of Pembina Pipeline Corp. $PBA

Montrusco Bolton Investments Inc. decreased its position in Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 13.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 279,262 shares of the pipeline company’s stock after selling 44,143 shares during the period. Montrusco Bolton Investments Inc.’s holdings in Pembina Pipeline were worth $11,294,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. AQR Capital Management LLC bought a new stake in shares of Pembina Pipeline in the first quarter valued at approximately $374,000. Focus Partners Wealth purchased a new stake in Pembina Pipeline during the 1st quarter worth about $312,000. Oppenheimer Asset Management Inc. boosted its stake in Pembina Pipeline by 2.5% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 20,492 shares of the pipeline company’s stock worth $769,000 after purchasing an additional 496 shares during the period. Envestnet Asset Management Inc. lifted its holdings in shares of Pembina Pipeline by 2.3% in the second quarter. Envestnet Asset Management Inc. now owns 328,915 shares of the pipeline company’s stock worth $12,338,000 after buying an additional 7,528 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of Pembina Pipeline in the second quarter valued at approximately $4,675,000. Hedge funds and other institutional investors own 55.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on PBA. TD Securities downgraded shares of Pembina Pipeline from a “buy” rating to a “hold” rating in a report on Tuesday, February 17th. BMO Capital Markets reissued an “outperform” rating on shares of Pembina Pipeline in a report on Tuesday, December 16th. Weiss Ratings reissued a “hold (c)” rating on shares of Pembina Pipeline in a research note on Monday, December 29th. Finally, Zacks Research raised Pembina Pipeline from a “strong sell” rating to a “hold” rating in a research note on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.00.

Pembina Pipeline Stock Performance

Shares of PBA stock opened at $44.15 on Thursday. Pembina Pipeline Corp. has a one year low of $34.13 and a one year high of $44.60. The company has a market capitalization of $25.66 billion, a price-to-earnings ratio of 22.08 and a beta of 0.68. The company’s 50-day moving average is $40.22 and its 200 day moving average is $39.09. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.41 and a current ratio of 0.53.

Pembina Pipeline 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.