Cumberland Partners Ltd Buys 30,781 Shares of Pembina Pipeline Corp. $PBA

Cumberland Partners Ltd boosted its stake in Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 28.4% during the third quarter, HoldingsChannel reports. The firm owned 139,081 shares of the pipeline company’s stock after buying an additional 30,781 shares during the period. Cumberland Partners Ltd’s holdings in Pembina Pipeline were worth $5,621,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Quantbot Technologies LP lifted its position in Pembina Pipeline by 66.3% in the 2nd quarter. Quantbot Technologies LP now owns 76,566 shares of the pipeline company’s stock worth $2,872,000 after buying an additional 30,523 shares during the last quarter. Varma Mutual Pension Insurance Co lifted its holdings in shares of Pembina Pipeline by 8.6% in the 3rd quarter. Varma Mutual Pension Insurance Co now owns 309,779 shares of the pipeline company’s stock worth $12,528,000 after acquiring an additional 24,400 shares during the last quarter. Ontario Teachers Pension Plan Board purchased a new stake in shares of Pembina Pipeline in the 2nd quarter valued at $1,658,000. First Trust Advisors LP boosted its stake in shares of Pembina Pipeline by 411.1% in the 2nd quarter. First Trust Advisors LP now owns 1,247,976 shares of the pipeline company’s stock valued at $46,820,000 after purchasing an additional 1,003,819 shares in the last quarter. Finally, Westwood Holdings Group Inc. raised its position in Pembina Pipeline by 14.1% in the 2nd quarter. Westwood Holdings Group Inc. now owns 1,629,929 shares of the pipeline company’s stock worth $61,139,000 after purchasing an additional 201,096 shares during the period. Hedge funds and other institutional investors own 55.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. BMO Capital Markets restated an “outperform” rating on shares of Pembina Pipeline in a research report on Tuesday, December 16th. Weiss Ratings restated a “hold (c)” rating on shares of Pembina Pipeline in a report on Monday, December 29th. Zacks Research upgraded Pembina Pipeline from a “strong sell” rating to a “hold” rating in a research report on Friday, January 23rd. Finally, TD Securities cut Pembina Pipeline from a “buy” rating to a “hold” rating in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $60.00.

Pembina Pipeline Stock Performance

Pembina Pipeline stock opened at $43.02 on Thursday. The company has a current ratio of 0.53, a quick ratio of 0.41 and a debt-to-equity ratio of 0.77. The firm has a market cap of $25.00 billion, a P/E ratio of 21.51 and a beta of 0.68. Pembina Pipeline Corp. has a 1-year low of $34.13 and a 1-year high of $44.60. The firm has a 50-day moving average of $39.65 and a 200-day moving average of $38.84.

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.