Acadian Asset Management LLC Purchases 32,400 Shares of Pembina Pipeline Corp. $PBA

Key Points

• Acadian Asset Management LLC increased its holdings in Pembina Pipeline Corp. by 736.4%, acquiring a total of 36,800 shares valued at $1.47 million.
• Pembina Pipeline recently announced a quarterly dividend of $0.71 per share, which represents a 7.2% yield, up from the previous $0.51 dividend.
• Institutional investors own 55.37% of Pembina Pipeline's stock, highlighting significant interest from major hedge funds and investment firms.

Acadian Asset Management LLC grew its stake in Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL by 736.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,800 shares of the pipeline company's stock after buying an additional 32,400 shares during the period. Acadian Asset Management LLC's holdings in Pembina Pipeline were worth $1,470,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Pembina Pipeline by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 25,296,456 shares of the pipeline company's stock worth $1,011,833,000 after acquiring an additional 409,379 shares in the last quarter. Mackenzie Financial Corp grew its position in Pembina Pipeline by 10.6% during the fourth quarter. Mackenzie Financial Corp now owns 13,930,847 shares of the pipeline company's stock valued at $514,154,000 after buying an additional 1,331,294 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Pembina Pipeline by 78.1% during the first quarter. Goldman Sachs Group Inc. now owns 7,088,945 shares of the pipeline company's stock valued at $283,770,000 after purchasing an additional 3,108,920 shares in the last quarter. TD Asset Management Inc lifted its holdings in shares of Pembina Pipeline by 2.4% in the first quarter. TD Asset Management Inc now owns 6,950,836 shares of the pipeline company's stock worth $277,985,000 after buying an additional 161,114 shares in the last quarter. Finally, Scotia Capital Inc. increased its holdings in shares of Pembina Pipeline by 5.2% in the 1st quarter. Scotia Capital Inc. now owns 5,230,781 shares of the pipeline company's stock worth $208,856,000 after buying an additional 260,804 shares during the last quarter. Hedge funds and other institutional investors own 55.37% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on PBA shares. Wall Street Zen cut shares of Pembina Pipeline from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Raymond James Financial reissued an "outperform" rating on shares of Pembina Pipeline in a research report on Monday, August 11th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Pembina Pipeline in a research note on Monday, August 11th. Wells Fargo & Company cut shares of Pembina Pipeline from a "hold" rating to a "strong sell" rating in a research note on Wednesday, August 6th. Finally, Jefferies Financial Group cut shares of Pembina Pipeline from a "buy" rating to a "hold" rating in a research note on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Pembina Pipeline currently has a consensus rating of "Moderate Buy".

Pembina Pipeline Price Performance

Pembina Pipeline stock traded up $0.20 during midday trading on Friday, reaching $40.03. The company's stock had a trading volume of 975,783 shares, compared to its average volume of 1,379,008. Pembina Pipeline Corp. has a fifty-two week low of $34.13 and a fifty-two week high of $43.44. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.62 and a current ratio of 0.77. The stock's 50 day simple moving average is $37.53 and its 200 day simple moving average is $37.77. The firm has a market capitalization of $23.25 billion, a PE ratio of 18.79 and a beta of 0.79.

Pembina Pipeline Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be given 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 yield of 7.1%. This is a boost from Pembina Pipeline's previous quarterly dividend of $0.51. Pembina Pipeline's dividend payout ratio (DPR) is 96.24%.

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.