Erste Asset Management GmbH Makes New Investment in Pembina Pipeline Corp. $PBA

Key Points

• Erste Asset Management GmbH has acquired a new position in Pembina Pipeline Corp, purchasing 7,000 shares valued at approximately $278,000 during the first quarter.
• Pembina Pipeline recently raised its quarterly dividend from $0.51 to $0.71, reflecting an annualized yield of 7.5% and a payout ratio of 97.18%.
• The stock currently holds an average rating of "Moderate Buy" with a consensus price target set at $56.00, following recent analyst ratings from various brokerages.

Erste Asset Management GmbH acquired a new position in Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 7,000 shares of the pipeline company's stock, valued at approximately $278,000.

A number of other institutional investors also recently made changes to their positions in the business. First Horizon Advisors Inc. boosted its stake in shares of Pembina Pipeline by 69.9% in the 1st quarter. First Horizon Advisors Inc. now owns 673 shares of the pipeline company's stock valued at $27,000 after purchasing an additional 277 shares in the last quarter. JCIC Asset Management Inc. boosted its stake in shares of Pembina Pipeline by 6.8% in the 1st quarter. JCIC Asset Management Inc. now owns 5,133 shares of the pipeline company's stock valued at $205,000 after purchasing an additional 325 shares in the last quarter. Hexagon Capital Partners LLC boosted its stake in shares of Pembina Pipeline by 17.0% in the 1st quarter. Hexagon Capital Partners LLC now owns 2,397 shares of the pipeline company's stock valued at $96,000 after purchasing an additional 349 shares in the last quarter. Albert D Mason Inc. boosted its stake in shares of Pembina Pipeline by 1.0% in the 1st quarter. Albert D Mason Inc. now owns 43,073 shares of the pipeline company's stock valued at $1,724,000 after purchasing an additional 426 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its stake in shares of Pembina Pipeline by 4.5% in the 4th quarter. NewEdge Advisors LLC now owns 9,883 shares of the pipeline company's stock valued at $365,000 after purchasing an additional 430 shares in the last quarter. Hedge funds and other institutional investors own 55.37% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PBA. Barclays reaffirmed an "overweight" rating on shares of Pembina Pipeline in a research note on Tuesday, June 3rd. National Bank Financial raised Pembina Pipeline from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, June 25th. Wells Fargo & Company lowered Pembina Pipeline from a "hold" rating to a "strong sell" rating in a research note on Wednesday, August 6th. Jefferies Financial Group lowered Pembina Pipeline from a "buy" rating to a "hold" rating in a research note on Wednesday, July 23rd. Finally, Raymond James Financial reissued an "outperform" rating on shares of Pembina Pipeline in a research note on Monday, August 11th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $56.00.

Pembina Pipeline Stock Performance

Shares of PBA stock opened at $38.0570 on Friday. The stock has a fifty day moving average of $37.01 and a 200 day moving average of $37.54. Pembina Pipeline Corp. has a 52 week low of $34.13 and a 52 week high of $43.44. The firm has a market capitalization of $22.11 billion, a price-to-earnings ratio of 17.87 and a beta of 0.78. 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 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. The ex-dividend date of this dividend 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 yield of 7.5%. Pembina Pipeline's payout ratio is 97.18%.

About Pembina Pipeline

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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