Icon Wealth Advisors LLC Has $74,000 Stock Holdings in Pembina Pipeline Co. (NYSE:PBA)

Icon Wealth Advisors LLC decreased its position in shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 62.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,805 shares of the pipeline company’s stock after selling 2,948 shares during the period. Icon Wealth Advisors LLC’s holdings in Pembina Pipeline were worth $74,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in PBA. Charles Schwab Investment Management Inc. grew its position in Pembina Pipeline by 8.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,507,356 shares of the pipeline company’s stock worth $62,201,000 after acquiring an additional 121,005 shares in the last quarter. Prospera Private Wealth LLC bought a new position in Pembina Pipeline during the third quarter valued at about $26,000. Kayne Anderson Capital Advisors LP lifted its position in shares of Pembina Pipeline by 15.3% in the third quarter. Kayne Anderson Capital Advisors LP now owns 4,155,198 shares of the pipeline company’s stock worth $171,360,000 after buying an additional 550,491 shares during the last quarter. Swiss National Bank boosted its stake in shares of Pembina Pipeline by 0.8% during the 3rd quarter. Swiss National Bank now owns 1,752,596 shares of the pipeline company’s stock worth $72,360,000 after acquiring an additional 13,800 shares in the last quarter. Finally, Natixis Advisors LLC increased its holdings in shares of Pembina Pipeline by 19.2% during the 3rd quarter. Natixis Advisors LLC now owns 33,232 shares of the pipeline company’s stock valued at $1,370,000 after acquiring an additional 5,360 shares during the last quarter. 55.37% of the stock is currently owned by institutional investors and hedge funds.

Pembina Pipeline Stock Performance

PBA stock opened at $42.93 on Monday. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.65 and a quick ratio of 0.51. Pembina Pipeline Co. has a fifty-two week low of $32.39 and a fifty-two week high of $43.44. The stock has a market capitalization of $24.92 billion, a PE ratio of 17.74 and a beta of 1.25. The company has a 50 day moving average price of $41.92 and a 200 day moving average price of $39.35.

Pembina Pipeline Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be paid a $0.69 dividend. The ex-dividend date is Monday, December 16th. This is a boost from Pembina Pipeline’s previous quarterly dividend of $0.50. This represents a $2.76 dividend on an annualized basis and a dividend yield of 6.43%. Pembina Pipeline’s dividend payout ratio is 84.30%.

Analyst Ratings Changes

A number of research analysts have weighed in on PBA shares. Raymond James assumed coverage on shares of Pembina Pipeline in a research report on Friday, October 11th. They set an “outperform” rating for the company. UBS Group began coverage on Pembina Pipeline in a research report on Wednesday, September 11th. They issued a “neutral” rating for the company. Finally, Citigroup boosted their price target on shares of Pembina Pipeline from $53.00 to $56.00 and gave the company a “neutral” rating in a report on Wednesday, August 28th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $56.50.

About Pembina Pipeline

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.