Credit Agricole S A Raises Stock Position in Pembina Pipeline Corp. $PBA

Key Points

• Credit Agricole S A increased its stake in Pembina Pipeline Corp. by 55%, owning 67,157 shares valued at approximately $2.69 million as of the end of the recent reporting period.
• Pembina Pipeline announced a quarterly dividend of $0.71 per share, reflecting a significant increase from its previous dividend and representing an annualized yield of 7.5%.
• Analyst ratings for Pembina Pipeline show a range of opinions, with one analyst rating it as a Strong Buy, while Wells Fargo recently downgraded it to a strong sell.

Credit Agricole S A boosted its holdings in shares of Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL by 55.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 67,157 shares of the pipeline company's stock after acquiring an additional 23,828 shares during the quarter. Credit Agricole S A's holdings in Pembina Pipeline were worth $2,688,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of Pembina Pipeline by 1,591.4% in 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 purchasing an additional 2,968,994 shares during the last quarter. Nuveen LLC bought a new stake in shares of Pembina Pipeline in the 1st quarter valued at $83,743,000. Mackenzie Financial Corp boosted its stake in shares of Pembina Pipeline by 10.6% in the 4th quarter. Mackenzie Financial Corp now owns 13,930,847 shares of the pipeline company's stock valued at $514,154,000 after purchasing an additional 1,331,294 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Pembina Pipeline by 55.2% in the 1st quarter. Invesco Ltd. now owns 2,522,129 shares of the pipeline company's stock valued at $100,961,000 after purchasing an additional 897,386 shares during the last quarter. Finally, Hsbc Holdings PLC lifted its position in shares of Pembina Pipeline by 47.4% during the 1st quarter. Hsbc Holdings PLC now owns 1,683,036 shares of the pipeline company's stock valued at $67,319,000 after acquiring an additional 541,266 shares during the period. 55.37% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PBA has been the topic of several research reports. National Bankshares upgraded shares of Pembina Pipeline from a "sector perform" rating to an "outperform" rating in a report on Thursday, June 26th. Jefferies Financial Group downgraded Pembina Pipeline from a "buy" rating to a "hold" rating in a research note on Wednesday, July 23rd. Raymond James Financial restated an "outperform" rating on shares of Pembina Pipeline in a research note on Monday, August 11th. Wells Fargo & Company downgraded Pembina Pipeline from a "hold" rating to a "strong sell" rating in a research note on Wednesday, August 6th. Finally, National Bank Financial upgraded Pembina Pipeline from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, June 25th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $56.00.

Pembina Pipeline Trading Up 0.7%

NYSE PBA traded up $0.27 during trading on Wednesday, hitting $37.68. 1,520,788 shares of the company's stock traded hands, compared to its average volume of 1,354,206. The stock has a fifty day moving average of $37.01 and a two-hundred day moving average of $37.56. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.77 and a quick ratio of 0.62. Pembina Pipeline Corp. has a 12-month low of $34.13 and a 12-month high of $43.44. The firm has a market cap of $21.89 billion, a P/E ratio of 17.69 and a beta of 0.78.

Pembina Pipeline Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders 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 is a positive change from Pembina Pipeline's previous quarterly dividend of $0.51. This represents a $2.84 annualized dividend and a yield of 7.5%. Pembina Pipeline's dividend payout ratio (DPR) is currently 95.77%.

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.