Harvest Portfolios Group Inc. Has $11.79 Million Stock Holdings in Pembina Pipeline Corp. $PBA

Key Points

• Harvest Portfolios Group Inc. increased its stake in Pembina Pipeline Corp. by 8.9%, owning approximately $11.79 million worth of shares as of its latest SEC filing.
• Pembina Pipeline recently declared a quarterly dividend of $0.71, up from the previous $0.51, reflecting a 7.5% yield and a payout ratio of 97.18%.
• Brokerage firms have varied opinions on Pembina Pipeline stock, with ratings ranging from Strong Buy to Strong Sell, leading to an average rating of "Moderate Buy" with a target price of $56.00.

Harvest Portfolios Group Inc. raised its holdings in Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL by 8.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 294,633 shares of the pipeline company's stock after buying an additional 24,090 shares during the quarter. Harvest Portfolios Group Inc. owned 0.05% of Pembina Pipeline worth $11,785,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PBA. First Horizon Advisors Inc. grew its holdings in shares of 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 in the last quarter. N.E.W. Advisory Services LLC acquired a new stake in shares of Pembina Pipeline during the 1st quarter worth approximately $27,000. Dunhill Financial LLC grew its holdings in shares of Pembina Pipeline by 100.0% during the 4th quarter. Dunhill Financial LLC now owns 1,350 shares of the pipeline company's stock worth $50,000 after purchasing an additional 675 shares in the last quarter. Larson Financial Group LLC grew its holdings in shares of Pembina Pipeline by 53.4% during the 1st quarter. Larson Financial Group LLC now owns 1,341 shares of the pipeline company's stock worth $54,000 after purchasing an additional 467 shares in the last quarter. Finally, Versant Capital Management Inc grew its holdings in shares of Pembina Pipeline by 108.3% during the 1st quarter. Versant Capital Management Inc now owns 1,525 shares of the pipeline company's stock worth $61,000 after purchasing an additional 793 shares in the last quarter. Institutional investors and hedge funds own 55.37% of the company's stock.

Pembina Pipeline Price Performance

Pembina Pipeline stock traded up $0.22 on Friday, reaching $37.75. The company's stock had a trading volume of 979,187 shares, compared to its average volume of 1,477,141. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.62 and a current ratio of 0.77. The company has a market cap of $21.93 billion, a price-to-earnings ratio of 17.72 and a beta of 0.78. The business's fifty day moving average price is $37.04 and its 200 day moving average price is $37.58. Pembina Pipeline Corp. has a twelve month low of $34.13 and a twelve month high of $43.44.

Pembina Pipeline Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 15th will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 7.5%. This is a boost from Pembina Pipeline's previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Monday, September 15th. Pembina Pipeline's payout ratio is currently 97.18%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. National Bank Financial raised Pembina Pipeline from a "hold" rating to a "strong-buy" rating in a report on Wednesday, June 25th. Wall Street Zen downgraded Pembina Pipeline from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Jefferies Financial Group downgraded Pembina Pipeline from a "buy" rating to a "hold" rating in a research report on Wednesday, July 23rd. Raymond James Financial restated an "outperform" rating on shares of Pembina Pipeline in a research report on Monday, August 11th. Finally, Wells Fargo & Company downgraded Pembina Pipeline from a "hold" rating to a "strong sell" rating in a research report on Wednesday, August 6th. One investment 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 given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy".

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.