Chickasaw Capital Management LLC boosted its position in Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL by 200.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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.
Several other hedge funds have also recently bought and sold shares of PBA. Cetera Investment Advisers increased its stake in Pembina Pipeline by 3.5% in the 4th quarter. Cetera Investment Advisers now owns 45,455 shares of the pipeline company's stock valued at $1,680,000 after purchasing an additional 1,536 shares in the last quarter. Quantinno Capital Management LP grew its holdings in Pembina Pipeline by 27.1% during the 4th quarter. Quantinno Capital Management LP now owns 26,994 shares of the pipeline company's stock valued at $997,000 after buying an additional 5,751 shares during the last quarter. Twinbeech Capital LP acquired a new stake in Pembina Pipeline during the 4th quarter valued at $1,809,000. USS Investment Management Ltd grew its holdings in Pembina Pipeline by 54.9% during the 4th quarter. USS Investment Management Ltd now owns 110,640 shares of the pipeline company's stock valued at $4,084,000 after buying an additional 39,206 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew 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 valued at $116,440,000 after buying an additional 2,968,994 shares during the last quarter. 55.37% of the stock is owned by hedge funds and other institutional investors.
Pembina Pipeline Stock Up 0.5%
Shares of PBA traded up $0.20 during midday trading on Friday, reaching $40.03. 975,783 shares of the company were exchanged, compared to its average volume of 1,379,008. The stock has a 50-day moving average price of $37.53 and a 200-day moving average price of $37.77. The company has a market cap of $23.25 billion, a price-to-earnings ratio of 18.79 and a beta of 0.79. Pembina Pipeline Corp. has a 1-year low of $34.13 and a 1-year high of $43.44. The company has a current ratio of 0.77, a quick ratio of 0.62 and a debt-to-equity ratio of 0.81.
Pembina Pipeline Increases Dividend
The firm also recently declared 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. This represents a $2.84 annualized dividend and a dividend yield of 7.1%. This is a positive change from Pembina Pipeline's previous quarterly dividend of $0.51. The ex-dividend date is Monday, September 15th. Pembina Pipeline's payout ratio is presently 95.77%.
Analyst Ratings Changes
A number of equities research analysts have commented on PBA shares. National Bankshares upgraded Pembina Pipeline from a "sector perform" rating to an "outperform" rating in a report on Thursday, June 26th. Barclays reiterated an "overweight" rating on shares of Pembina Pipeline in a report on Tuesday, June 3rd. Raymond James Financial reiterated an "outperform" rating on shares of Pembina Pipeline in a report on Monday, August 11th. National Bank Financial upgraded Pembina Pipeline from a "hold" rating to a "strong-buy" rating in a report on Wednesday, June 25th. Finally, Wells Fargo & Company cut Pembina Pipeline from a "hold" rating to a "strong sell" rating in a report on Wednesday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Pembina Pipeline currently has an average rating of "Moderate Buy".
Get Our Latest Research Report on PBA
Pembina Pipeline Profile
(
Free Report)
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.
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