Rep. Virginia Foxx Sells Off Shares of Pembina Pipeline Co. (NYSE:PBA)

Representative Virginia Foxx (R-North Carolina) recently sold shares of Pembina Pipeline Co. (NYSE:PBA). In a filing disclosed on January 06th, the Representative disclosed that they had sold between $50,001 and $100,000 in Pembina Pipeline stock on December 6th.

Representative Virginia Foxx also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of AbbVie (NYSE:ABBV) on 12/6/2024.
• Sold $50,001 – $100,000 in shares of Via Renewables (NASDAQ:VIASP) on 12/6/2024.
• Purchased $1,001 – $15,000 in shares of American Electric Power (NASDAQ:AEP) on 12/6/2024.
• Sold $15,001 – $50,000 in shares of FLEX LNG (NYSE:FLNG) on 12/6/2024.
• Purchased $1,001 – $15,000 in shares of Bristol-Myers Squibb (NYSE:BMY) on 12/6/2024.
• Sold $15,001 – $50,000 in shares of Ardmore Shipping (NYSE:ASC) on 12/6/2024.
• Purchased $1,001 – $15,000 in shares of Amgen (NASDAQ:AMGN) on 12/6/2024.
• Sold $15,001 – $50,000 in shares of Alliance Resource Partners (NASDAQ:ARLP) on 12/6/2024.
• Purchased $1,001 – $15,000 in shares of Duke Energy (NYSE:DUK) on 12/6/2024.
• Sold $15,001 – $50,000 in shares of Energy Transfer (NYSE:ET) on 12/6/2024.

Pembina Pipeline Stock Up 0.9 %

NYSE PBA traded up $0.32 on Thursday, reaching $36.96. The company had a trading volume of 602,609 shares, compared to its average volume of 1,352,281. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.51 and a current ratio of 0.65. The firm has a market capitalization of $21.46 billion, a price-to-earnings ratio of 15.27 and a beta of 1.25. The company’s fifty day moving average is $39.47 and its 200-day moving average is $39.67. Pembina Pipeline Co. has a 1-year low of $32.81 and a 1-year high of $43.44.

Pembina Pipeline Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were paid a $0.69 dividend. The ex-dividend date was Monday, December 16th. This represents a $2.76 dividend on an annualized basis and a yield of 7.47%. This is a positive change from Pembina Pipeline’s previous quarterly dividend of $0.50. Pembina Pipeline’s payout ratio is presently 84.30%.

Hedge Funds Weigh In On Pembina Pipeline

A number of hedge funds have recently made changes to their positions in the stock. Kingsview Wealth Management LLC grew its stake in Pembina Pipeline by 4.1% during the third quarter. Kingsview Wealth Management LLC now owns 6,947 shares of the pipeline company’s stock worth $286,000 after purchasing an additional 273 shares during the period. CENTRAL TRUST Co grew its holdings in shares of Pembina Pipeline by 65.0% in the third quarter. CENTRAL TRUST Co now owns 825 shares of the pipeline company’s stock valued at $34,000 after acquiring an additional 325 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in Pembina Pipeline by 1.8% during the third quarter. Oppenheimer Asset Management Inc. now owns 18,675 shares of the pipeline company’s stock worth $770,000 after acquiring an additional 334 shares during the period. EverSource Wealth Advisors LLC grew its stake in Pembina Pipeline by 30.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,668 shares of the pipeline company’s stock valued at $65,000 after purchasing an additional 387 shares during the period. Finally, Gold Investment Management Ltd. raised its stake in shares of Pembina Pipeline by 4.2% during the 3rd quarter. Gold Investment Management Ltd. now owns 11,001 shares of the pipeline company’s stock worth $453,000 after purchasing an additional 439 shares during the period. 55.37% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PBA has been the subject of a number of recent research reports. UBS Group initiated coverage on shares of Pembina Pipeline in a research note on Wednesday, September 11th. They set a “neutral” rating for the company. Wells Fargo & Company lowered shares of Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Barclays began coverage on Pembina Pipeline in a research note on Thursday, December 12th. They set an “overweight” rating on the stock. Finally, Raymond James started coverage on shares of Pembina Pipeline in a research report on Friday, October 11th. They set an “outperform” rating for the company. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $56.50.

About Representative Foxx

Virginia Foxx (Republican Party) is a member of the U.S. House, representing North Carolina’s 5th Congressional District. She assumed office on January 3, 2005. Her current term ends on January 3, 2025. Foxx (Republican Party) is running for re-election to the U.S. House to represent North Carolina’s 5th Congressional District. She declared candidacy for the 2024 election. Prior to her election to the U.S. House, Foxx served as a member of the North Carolina State Senate as well as deputy secretary for management for North Carolina. Foxx was born in New York, New York. She earned a B.A. and M.A.C.T. from the University of North Carolina, Chapel Hill, in 1968 and 1972, respectively, and an Ed.D. from the University of North Carolina, Greensboro, in 1985. Foxx worked as an instructor at Caldwell Community College in Hudson, NC, and an instructor and assistant dean at Appalachian State University in Boone, NC. She owned a landscape nursery and served as Deputy Secretary for Management at the North Carolina Department of Administration.

Pembina Pipeline Company Profile

Pembina Pipeline Corporation provides energy transportation and midstream services. It operates through three segments: Pipelines, Facilities, and Marketing & New Ventures. The Pipelines segment operates conventional, oil sands and heavy oil, and transmission assets with a transportation capacity of 2.9 millions of barrels of oil equivalent per day, the ground storage capacity of 10 millions of barrels, and rail terminalling capacity of approximately 105 thousands of barrels of oil equivalent per day serving markets and basins across North America.