Pembina Pipeline Co. (NYSE:PBA) Short Interest Down 73.1% in January

Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) was the target of a significant decrease in short interest in January. As of January 15th, there was short interest totalling 4,050,000 shares, a decrease of 73.1% from the December 31st total of 15,040,000 shares. Based on an average daily trading volume, of 1,150,000 shares, the days-to-cover ratio is currently 3.5 days. Currently, 0.7% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

PBA has been the subject of a number of recent analyst reports. Raymond James assumed coverage on Pembina Pipeline in a report on Friday, October 11th. They set an “outperform” rating for the company. Barclays assumed coverage on Pembina Pipeline in a research note on Thursday, December 12th. They issued an “overweight” rating on the stock. Wells Fargo & Company downgraded shares of Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Finally, TD Securities started coverage on Pembina Pipeline in a research note on Wednesday, January 15th. They set a “buy” rating for the company. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $56.50.

Pembina Pipeline Stock Performance

Shares of NYSE PBA traded down $0.35 during midday trading on Tuesday, reaching $36.39. 1,453,900 shares of the company were exchanged, compared to its average volume of 1,191,329. The stock has a market cap of $21.13 billion, a P/E ratio of 15.04 and a beta of 1.25. The company has a current ratio of 0.65, a quick ratio of 0.51 and a debt-to-equity ratio of 0.79. Pembina Pipeline has a 1 year low of $32.81 and a 1 year high of $43.44. The stock has a fifty day simple moving average of $38.29 and a 200 day simple moving average of $39.67.

Pembina Pipeline Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were issued a dividend of $0.69 per share. The ex-dividend date of this dividend was Monday, December 16th. This is a boost from Pembina Pipeline’s previous quarterly dividend of $0.50. This represents a $2.76 annualized dividend and a yield of 7.58%. Pembina Pipeline’s payout ratio is currently 80.58%.

Institutional Trading of Pembina Pipeline

Institutional investors and hedge funds have recently modified their holdings of the business. Godsey & Gibb Inc. acquired a new stake in shares of Pembina Pipeline during the 3rd quarter worth about $25,000. Prospera Private Wealth LLC acquired a new stake in Pembina Pipeline during the third quarter worth approximately $26,000. Safe Harbor Fiduciary LLC purchased a new stake in Pembina Pipeline in the 3rd quarter worth approximately $26,000. Versant Capital Management Inc acquired a new position in Pembina Pipeline in the 4th quarter valued at $27,000. Finally, Sound Income Strategies LLC purchased a new position in shares of Pembina Pipeline during the 4th quarter worth $27,000. Hedge funds and other institutional investors own 55.37% of the company’s stock.

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.