Harvest Portfolios Group Inc. Raises Stock Position 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. grew its position in Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL by 8.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 294,633 shares of the pipeline company's stock after acquiring an additional 24,090 shares during the quarter. Harvest Portfolios Group Inc. owned about 0.05% of Pembina Pipeline worth $11,785,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in PBA. First Horizon Advisors Inc. lifted its holdings 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 worth $27,000 after acquiring an additional 277 shares during the last quarter. N.E.W. Advisory Services LLC bought a new stake in shares of Pembina Pipeline in the 1st quarter worth about $27,000. Dunhill Financial LLC lifted its holdings 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 worth $50,000 after acquiring an additional 675 shares during the last quarter. Larson Financial Group LLC lifted its holdings 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 worth $54,000 after acquiring an additional 467 shares during the last quarter. Finally, Versant Capital Management Inc lifted its holdings 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 worth $61,000 after acquiring an additional 793 shares during the last quarter. Institutional investors own 55.37% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on PBA shares. Wells Fargo & Company lowered shares of Pembina Pipeline from a "hold" rating to a "strong sell" rating in a report on Wednesday, August 6th. Barclays reiterated an "overweight" rating on shares of Pembina Pipeline in a research report on Tuesday, June 3rd. National Bankshares upgraded Pembina Pipeline from a "sector perform" rating to an "outperform" rating in a research report on Thursday, June 26th. Raymond James Financial reiterated an "outperform" rating on shares of Pembina Pipeline in a research report on Monday, August 11th. Finally, BMO Capital Markets reiterated an "outperform" rating on shares of Pembina Pipeline in a research report on Monday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy".

Pembina Pipeline Stock Up 0.6%

PBA stock traded up $0.22 during trading on Friday, hitting $37.75. 979,187 shares of the company's stock traded hands, compared to its average volume of 1,352,245. The firm has a market capitalization of $21.93 billion, a P/E ratio of 17.72 and a beta of 0.78. Pembina Pipeline Corp. has a 1 year low of $34.13 and a 1 year high of $43.44. The company has a quick ratio of 0.62, a current ratio of 0.77 and a debt-to-equity ratio of 0.81. The business has a fifty day simple moving average of $37.04 and a two-hundred day simple moving average of $37.57.

Pembina Pipeline Increases Dividend

The business also recently announced 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. 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. This represents a $2.84 annualized dividend 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.