American Century Companies Inc. Purchases 7,830 Shares of Pembina Pipeline Corp. $PBA

Key Points

• American Century Companies Inc. raised its stake in Pembina Pipeline Corp. by 5.6%, bringing its total holdings to approximately $5.95 million after acquiring an additional 7,830 shares during the first quarter.
• Pembina Pipeline has increased its quarterly dividend from $0.51 to $0.71 per share, reflecting an annualized dividend of $2.84 and a yield of 7.6%.
• A mix of institutional investors, including Vanguard Group and Deutsche Bank, have also boosted their stakes in Pembina Pipeline, contributing to over 55% ownership by hedge funds and other institutional investors.

American Century Companies Inc. raised its stake in Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL by 5.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 148,783 shares of the pipeline company's stock after purchasing an additional 7,830 shares during the quarter. American Century Companies Inc.'s holdings in Pembina Pipeline were worth $5,951,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. First Horizon Advisors Inc. raised its stake in shares of Pembina Pipeline by 69.9% in the first quarter. First Horizon Advisors Inc. now owns 673 shares of the pipeline company's stock worth $27,000 after purchasing an additional 277 shares during the last quarter. JCIC Asset Management Inc. grew its holdings in shares of Pembina Pipeline by 6.8% in the first quarter. JCIC Asset Management Inc. now owns 5,133 shares of the pipeline company's stock valued at $205,000 after acquiring an additional 325 shares in the last quarter. Hexagon Capital Partners LLC grew its holdings in shares of Pembina Pipeline by 17.0% in the first quarter. Hexagon Capital Partners LLC now owns 2,397 shares of the pipeline company's stock valued at $96,000 after acquiring an additional 349 shares in the last quarter. Albert D Mason Inc. grew its holdings in shares of Pembina Pipeline by 1.0% in the first quarter. Albert D Mason Inc. now owns 43,073 shares of the pipeline company's stock valued at $1,724,000 after acquiring an additional 426 shares in the last quarter. Finally, Crossmark Global Holdings Inc. grew its holdings in shares of Pembina Pipeline by 1.3% in the first quarter. Crossmark Global Holdings Inc. now owns 34,057 shares of the pipeline company's stock valued at $1,363,000 after acquiring an additional 435 shares in the last quarter. 55.37% of the stock is owned by hedge funds and other institutional investors.

Pembina Pipeline Stock Performance

Shares of Pembina Pipeline stock traded up $0.19 during trading hours on Wednesday, reaching $37.69. The company had a trading volume of 610,359 shares, compared to its average volume of 1,465,001. Pembina Pipeline Corp. has a one year low of $34.13 and a one year high of $43.44. The business has a fifty day simple moving average of $37.09 and a 200 day simple moving average of $37.60. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.77 and a quick ratio of 0.62. The firm has a market cap of $21.89 billion, a PE ratio of 17.69 and a beta of 0.79.

Pembina Pipeline Increases Dividend

The firm 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 $0.71 dividend. 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. The ex-dividend date is Monday, September 15th. Pembina Pipeline's dividend payout ratio (DPR) is 97.18%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Jefferies Financial Group lowered Pembina Pipeline from a "buy" rating to a "hold" rating in a report on Wednesday, July 23rd. National Bankshares raised Pembina Pipeline from a "sector perform" rating to an "outperform" rating in a report on Thursday, June 26th. Barclays reaffirmed an "overweight" rating on shares of Pembina Pipeline in a report on Tuesday, June 3rd. Raymond James Financial reissued an "outperform" rating on shares of Pembina Pipeline in a report on Monday, August 11th. Finally, BMO Capital Markets reissued an "outperform" rating on shares of Pembina Pipeline in a report on Monday, August 11th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Pembina Pipeline presently has a consensus rating of "Moderate Buy".

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.