Chickasaw Capital Management LLC Grows Position in Pembina Pipeline Corp. $PBA

Key Points

• Chickasaw Capital Management LLC has increased its stake in Pembina Pipeline Corp. by 200%, acquiring an additional 16,000 shares to reach a total of 24,000 shares worth approximately $900,000.
• Pembina Pipeline recently announced an increase in its quarterly dividend from $0.51 to $0.71, resulting in an annualized dividend of $2.84 and a yield of 7.2%.
• The stock has an average rating of "Moderate Buy" from analysts, with recent rating changes including a raise to "strong-buy" by National Bank Financial.

Chickasaw Capital Management LLC lifted its stake in Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL by 200.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,000 shares of the pipeline company's stock after purchasing an additional 16,000 shares during the period. Chickasaw Capital Management LLC's holdings in Pembina Pipeline were worth $900,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Cetera Investment Advisers lifted its position in Pembina Pipeline by 6.2% during the 1st quarter. Cetera Investment Advisers now owns 48,289 shares of the pipeline company's stock valued at $1,933,000 after acquiring an additional 2,834 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Pembina Pipeline by 78.1% in the first quarter. Goldman Sachs Group Inc. now owns 7,088,945 shares of the pipeline company's stock worth $283,770,000 after acquiring an additional 3,108,920 shares during the period. Westwood Holdings Group Inc. grew its stake in shares of Pembina Pipeline by 25.2% in 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 period. Wealth Enhancement Advisory Services LLC grew its stake in shares of 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 worth $728,000 after acquiring an additional 1,824 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of 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 worth $62,839,000 after buying an additional 25,265 shares during the last quarter. 55.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on PBA shares. Wall Street Zen downgraded shares of Pembina Pipeline from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. National Bankshares upgraded shares of Pembina Pipeline from a "sector perform" rating to an "outperform" rating in a report on Thursday, June 26th. Raymond James Financial reissued an "outperform" rating on shares of Pembina Pipeline in a research report on Monday, August 11th. Jefferies Financial Group downgraded shares of Pembina Pipeline from a "buy" rating to a "hold" rating in a research report on Wednesday, July 23rd. Finally, National Bank Financial upgraded shares of Pembina Pipeline from a "hold" rating to a "strong-buy" rating in a report on Wednesday, June 25th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy".

Pembina Pipeline Stock Performance

Shares of NYSE:PBA traded up $0.29 during trading on Thursday, hitting $39.83. 803,193 shares of the stock traded hands, compared to its average volume of 1,470,718. The company has a quick ratio of 0.62, a current ratio of 0.77 and a debt-to-equity ratio of 0.81. The company has a market cap of $23.14 billion, a price-to-earnings ratio of 18.70 and a beta of 0.79. The company has a fifty day moving average price of $37.46 and a two-hundred day moving average price of $37.75. Pembina Pipeline Corp. has a 52-week low of $34.13 and a 52-week high of $43.44.

Pembina Pipeline Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 7.1%. 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. Pembina Pipeline's payout ratio is presently 96.24%.

Pembina Pipeline 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.