Caisse DE Depot ET Placement DU Quebec Buys New Holdings in Pembina Pipeline Corp. $PBA

Key Points

• Caisse de Depot et Placement du Quebec has acquired a new stake in Pembina Pipeline Corp., purchasing 22,090 shares valued at approximately $883,000 in Q1.
• Pembina Pipeline recently announced an increase in its quarterly dividend to $0.71 per share, resulting in a dividend yield of 7.5%, up from the previous $0.51.
• Wall Street analysts have varied opinions on Pembina Pipeline, with one rating it a Strong Buy and others giving a mix of ratings including Hold and Sell, resulting in a consensus rating of "Moderate Buy".

Caisse DE Depot ET Placement DU Quebec purchased a new stake in Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 22,090 shares of the pipeline company's stock, valued at approximately $883,000.

Other large investors have also made changes to their positions in the company. Walleye Capital LLC bought a new stake in Pembina Pipeline during the first quarter worth approximately $226,000. ICONIQ Capital LLC bought a new stake in Pembina Pipeline during the first quarter worth approximately $218,000. Candriam S.C.A. boosted its position in Pembina Pipeline by 11.4% during the first quarter. Candriam S.C.A. now owns 19,079 shares of the pipeline company's stock worth $763,000 after purchasing an additional 1,960 shares during the period. Erste Asset Management GmbH bought a new stake in Pembina Pipeline during the first quarter worth approximately $278,000. Finally, Credit Agricole S A boosted its position in Pembina Pipeline by 55.0% during the first quarter. Credit Agricole S A now owns 67,157 shares of the pipeline company's stock worth $2,688,000 after purchasing an additional 23,828 shares during the period. Institutional investors own 55.37% of the company's stock.

Pembina Pipeline Stock Performance

Shares of PBA stock traded up $0.08 during trading hours on Thursday, reaching $37.77. 904,855 shares of the company's stock were exchanged, compared to its average volume of 1,407,787. Pembina Pipeline Corp. has a fifty-two week low of $34.13 and a fifty-two week high of $43.44. The stock has a market capitalization of $21.94 billion, a P/E ratio of 17.73 and a beta of 0.79. The business has a fifty day moving average price of $37.09 and a 200-day moving average price of $37.61. The company has a quick ratio of 0.62, a current ratio of 0.77 and a debt-to-equity ratio of 0.81.

Pembina Pipeline Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be paid a $0.71 dividend. The ex-dividend date is Monday, September 15th. This is a positive change 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 7.5%. Pembina Pipeline's dividend payout ratio is currently 97.18%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on PBA shares. Wells Fargo & Company cut Pembina Pipeline from a "hold" rating to a "strong sell" rating in a research report on Wednesday, August 6th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Pembina Pipeline in a research report on Monday, August 11th. Jefferies Financial Group cut Pembina Pipeline from a "buy" rating to a "hold" rating in a research report on Wednesday, July 23rd. Raymond James Financial reiterated an "outperform" rating on shares of Pembina Pipeline in a report on Monday, August 11th. Finally, National Bankshares upgraded Pembina Pipeline from a "sector perform" rating to an "outperform" rating in a report on Thursday, June 26th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock 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.