1832 Asset Management L.P. Has $81.55 Million 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. lessened its position in shares of Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL by 4.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,037,241 shares of the pipeline company's stock after selling 90,917 shares during the period. 1832 Asset Management L.P. owned about 0.35% of Pembina Pipeline worth $81,551,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in PBA. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in Pembina Pipeline by 1,591.4% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 3,155,558 shares of the pipeline company's stock worth $116,440,000 after purchasing an additional 2,968,994 shares in the last quarter. Nuveen LLC bought a new position in Pembina Pipeline during the 1st quarter worth about $83,743,000. Mackenzie Financial Corp increased its holdings in Pembina Pipeline by 10.6% during the 4th quarter. Mackenzie Financial Corp now owns 13,930,847 shares of the pipeline company's stock worth $514,154,000 after purchasing an additional 1,331,294 shares in the last quarter. Invesco Ltd. increased its holdings in Pembina Pipeline by 55.2% during the 1st quarter. Invesco Ltd. now owns 2,522,129 shares of the pipeline company's stock worth $100,961,000 after purchasing an additional 897,386 shares in the last quarter. Finally, Hsbc Holdings PLC increased its holdings in Pembina Pipeline by 47.4% during the 1st quarter. Hsbc Holdings PLC now owns 1,683,036 shares of the pipeline company's stock worth $67,319,000 after purchasing an additional 541,266 shares in the last quarter. Institutional investors own 55.37% of the company's stock.

Analysts Set New Price Targets

PBA has been the subject of a number of research reports. National Bankshares upgraded Pembina Pipeline from a "sector perform" rating to an "outperform" rating in a report on Thursday, June 26th. Raymond James Financial restated an "outperform" rating on shares of Pembina Pipeline in a research note on Monday, August 11th. Barclays restated an "overweight" rating on shares of Pembina Pipeline in a research note on Tuesday, June 3rd. Wall Street Zen downgraded shares of Pembina Pipeline from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Finally, Wells Fargo & Company downgraded shares of Pembina Pipeline from a "hold" rating to a "strong sell" rating in a research note on Wednesday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy".

Pembina Pipeline Price Performance

PBA traded down $0.24 during trading on Thursday, hitting $37.44. 344,829 shares of the stock traded hands, compared to its average volume of 1,347,648. The business has a 50 day moving average price of $37.03 and a 200 day moving average price of $37.56. The company has a market cap of $21.75 billion, a price-to-earnings ratio of 17.57 and a beta of 0.78. Pembina Pipeline Corp. has a twelve month low of $34.13 and a twelve month high of $43.44. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.77 and a quick ratio of 0.62.

Pembina Pipeline Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be paid a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, September 15th. This is a boost from Pembina Pipeline's previous quarterly dividend of $0.51. This represents a $2.84 dividend on an annualized basis and a dividend yield of 7.6%. Pembina Pipeline's payout ratio is presently 97.18%.

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.