Eagle Global Advisors LLC Purchases 8,570 Shares of Pembina Pipeline Corp. (NYSE:PBA)

Key Points

• Eagle Global Advisors LLC increased its stake in Pembina Pipeline Corp. by 8.3%, acquiring an additional 8,570 shares and bringing total ownership to 111,550 shares, valued at approximately $4.47 million.
• Pembina Pipeline recently declared a quarterly dividend of $0.71 per share, an increase from the previous dividend of $0.51, reflecting a dividend yield of 8.0%.
• Analyst ratings for Pembina Pipeline are mixed, with two analysts rating it as a sell, while others maintain hold and buy ratings, resulting in an overall average rating of "Moderate Buy".

Eagle Global Advisors LLC lifted its stake in shares of Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL by 8.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 111,550 shares of the pipeline company's stock after acquiring an additional 8,570 shares during the quarter. Eagle Global Advisors LLC's holdings in Pembina Pipeline were worth $4,465,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in PBA. First Horizon Advisors Inc. raised its holdings in Pembina Pipeline by 69.9% during the 1st 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. N.E.W. Advisory Services LLC acquired a new stake in shares of Pembina Pipeline during the first quarter worth $27,000. Dunhill Financial LLC raised its stake in Pembina Pipeline by 100.0% during the fourth quarter. Dunhill Financial LLC now owns 1,350 shares of the pipeline company's stock worth $50,000 after buying an additional 675 shares during the last quarter. Larson Financial Group LLC lifted its holdings in Pembina Pipeline by 53.4% in the first quarter. Larson Financial Group LLC now owns 1,341 shares of the pipeline company's stock valued at $54,000 after buying an additional 467 shares during the period. Finally, Versant Capital Management Inc lifted its holdings in Pembina Pipeline by 108.3% in the first quarter. Versant Capital Management Inc now owns 1,525 shares of the pipeline company's stock valued at $61,000 after buying an additional 793 shares during the period. 55.37% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on PBA shares. BMO Capital Markets reissued an "outperform" rating on shares of Pembina Pipeline in a research report on Monday. National Bankshares upgraded Pembina Pipeline from a "sector perform" rating to an "outperform" rating in a report on Thursday, June 26th. Barclays restated an "overweight" rating on shares of Pembina Pipeline in a report on Tuesday, June 3rd. Jefferies Financial Group lowered shares of Pembina Pipeline from a "buy" rating to a "hold" rating in a research note on Wednesday, July 23rd. Finally, National Bank Financial upgraded shares of Pembina Pipeline from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, June 25th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Pembina Pipeline presently has a consensus rating of "Moderate Buy" and an average price target of $56.00.

Pembina Pipeline Stock Up 0.7%

Shares of NYSE PBA traded up $0.25 during midday trading on Thursday, hitting $36.69. 970,282 shares of the stock traded hands, compared to its average volume of 1,322,045. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.62 and a current ratio of 0.77. Pembina Pipeline Corp. has a one year low of $34.13 and a one year high of $43.44. The business has a 50 day moving average price of $37.09 and a two-hundred day moving average price of $37.50. The company has a market cap of $21.31 billion, a PE ratio of 17.22 and a beta of 0.78.

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 dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 7.7%. This is an increase from Pembina Pipeline's previous quarterly dividend of $0.51. The ex-dividend date is Monday, September 15th. Pembina Pipeline's dividend payout ratio is currently 97.18%.

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.