Pembina Pipeline Corp. $PBA Shares Bought by Gulf International Bank UK Ltd

Key Points

• Gulf International Bank UK Ltd significantly increased its holdings in Pembina Pipeline Corp. by 2,610.2% during the first quarter, now owning 33,552 shares valued at approximately $1.34 million.
• Several institutional investors, including First Horizon Advisors Inc. and Dunhill Financial LLC, have also raised their positions in Pembina, indicating growing institutional interest in the company.
• Pembina recently announced a higher quarterly dividend of $0.71 per share, up from $0.51, resulting in an annualized dividend yield of 7.7%.

Gulf International Bank UK Ltd boosted its stake in shares of Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL by 2,610.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,552 shares of the pipeline company's stock after purchasing an additional 32,314 shares during the period. Gulf International Bank UK Ltd's holdings in Pembina Pipeline were worth $1,343,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of PBA. First Horizon Advisors Inc. raised 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 acquiring an additional 277 shares during the period. N.E.W. Advisory Services LLC purchased a new position in shares of Pembina Pipeline in the 1st quarter valued at $27,000. Dunhill Financial LLC raised its stake in shares of Pembina Pipeline by 100.0% in the 4th quarter. Dunhill Financial LLC now owns 1,350 shares of the pipeline company's stock valued at $50,000 after acquiring an additional 675 shares during the period. Larson Financial Group LLC raised its stake in shares of Pembina Pipeline by 53.4% in the 1st quarter. Larson Financial Group LLC now owns 1,341 shares of the pipeline company's stock valued at $54,000 after acquiring an additional 467 shares during the period. Finally, Versant Capital Management Inc raised its stake in shares of Pembina Pipeline by 108.3% in the 1st quarter. Versant Capital Management Inc now owns 1,525 shares of the pipeline company's stock valued at $61,000 after acquiring an additional 793 shares during the period. Hedge funds and other institutional investors own 55.37% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on PBA shares. Jefferies Financial Group downgraded shares of Pembina Pipeline from a "buy" rating to a "hold" rating in a research note on Wednesday, July 23rd. Wall Street Zen downgraded shares of Pembina Pipeline from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Wells Fargo & Company downgraded shares of Pembina Pipeline from a "hold" rating to a "strong sell" rating in a research note on Wednesday, August 6th. Barclays reissued an "overweight" rating on shares of Pembina Pipeline in a research note on Tuesday, June 3rd. Finally, National Bankshares raised shares of Pembina Pipeline from a "sector perform" rating to an "outperform" rating in a research note on Thursday, June 26th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $56.00.

Pembina Pipeline Stock Up 0.3%

Pembina Pipeline stock traded up $0.1310 during midday trading on Thursday, hitting $37.7310. 503,447 shares of the stock were exchanged, compared to its average volume of 1,315,980. Pembina Pipeline Corp. has a 1 year low of $34.13 and a 1 year high of $43.44. The firm has a market cap of $21.92 billion, a P/E ratio of 17.73 and a beta of 0.78. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.77 and a quick ratio of 0.62. The company has a 50 day moving average price of $37.03 and a two-hundred day moving average price of $37.51.

Pembina Pipeline Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be issued a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $2.84 annualized dividend and a yield of 7.5%. This is an increase from Pembina Pipeline's previous quarterly dividend of $0.51. Pembina Pipeline's dividend payout ratio (DPR) is 95.77%.

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.