1832 Asset Management L.P. Lowers Stock Holdings in Pembina Pipeline Corp. $PBA

Key Points

• 1832 Asset Management L.P. has reduced its stake in Pembina Pipeline Corp. by 4.3%, selling 90,917 shares and now holding 2,037,241 shares worth approximately $81.55 million.
• A range of institutional investors have increased their stakes in Pembina Pipeline, with the Vanguard Group holding the largest share at over $1 billion.
• Pembina Pipeline announced a quarterly dividend increase to $0.71 per share, reflecting a yield of 7.5%, set to be paid on September 29th.

1832 Asset Management L.P. reduced its position in Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL by 4.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,037,241 shares of the pipeline company's stock after selling 90,917 shares during the quarter. 1832 Asset Management L.P. owned 0.35% of Pembina Pipeline worth $81,551,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Cetera Investment Advisers raised its holdings in Pembina Pipeline by 6.2% in the first quarter. Cetera Investment Advisers now owns 48,289 shares of the pipeline company's stock worth $1,933,000 after purchasing an additional 2,834 shares in the last quarter. Westwood Holdings Group Inc. grew its stake in shares of Pembina Pipeline by 25.2% during the first quarter. Westwood Holdings Group Inc. now owns 1,428,833 shares of the pipeline company's stock worth $57,196,000 after acquiring an additional 288,003 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in Pembina Pipeline by 11.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 18,182 shares of the pipeline company's stock valued at $728,000 after buying an additional 1,824 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Pembina Pipeline by 1.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,571,245 shares of the pipeline company's stock valued at $62,839,000 after buying an additional 25,265 shares during the last quarter. Finally, Catalyst Capital Advisors LLC boosted its position in Pembina Pipeline by 18.0% in the first quarter. Catalyst Capital Advisors LLC now owns 445,057 shares of the pipeline company's stock valued at $17,816,000 after buying an additional 67,797 shares during the last quarter. 55.37% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on PBA shares. Raymond James Financial reiterated an "outperform" rating on shares of Pembina Pipeline in a research report on Monday, August 11th. Barclays restated an "overweight" rating on shares of Pembina Pipeline in a research report on Tuesday, June 3rd. Wells Fargo & Company lowered Pembina Pipeline from a "hold" rating to a "strong sell" rating in a research report on Wednesday, August 6th. National Bank Financial upgraded Pembina Pipeline from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, June 25th. Finally, BMO Capital Markets reaffirmed an "outperform" rating on shares of Pembina Pipeline in a research note on Monday, August 11th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $56.00.

Pembina Pipeline Trading Up 0.7%

Shares of NYSE PBA traded up $0.27 during mid-day trading on Wednesday, reaching $37.68. 1,490,324 shares of the company's stock were exchanged, compared to its average volume of 1,352,011. The firm has a market capitalization of $21.89 billion, a price-to-earnings ratio of 17.69 and a beta of 0.78. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.62 and a current ratio of 0.77. Pembina Pipeline Corp. has a 52-week low of $34.13 and a 52-week high of $43.44. The company's 50-day moving average is $37.01 and its 200-day moving average is $37.56.

Pembina Pipeline Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 15th will be issued a dividend of $0.71 per share. The ex-dividend date is Monday, September 15th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 7.5%. This is a boost from Pembina Pipeline's previous quarterly dividend of $0.51. Pembina Pipeline's dividend payout ratio (DPR) is currently 95.77%.

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.