Hsbc Holdings PLC Increases Holdings in Pembina Pipeline Corp. $PBA

Key Points

• HSBC Holdings PLC increased its shareholding in Pembina Pipeline Corp. by 47.4%, owning a total of 1,683,036 shares worth approximately $67.3 million as of the end of the last quarter.
• Pembina Pipeline has announced a dividend increase from $0.51 to $0.71 per share, which reflects an annualized dividend yield of 7.5%.
• Market analysts have upgraded Pembina Pipeline's rating, with several firms now recommending it as a buy or strong buy, contributing to an average consensus price target of $56.00.

Hsbc Holdings PLC boosted its position in shares of Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL by 47.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,683,036 shares of the pipeline company's stock after buying an additional 541,266 shares during the period. Hsbc Holdings PLC owned 0.29% of Pembina Pipeline worth $67,319,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in PBA. HITE Hedge Asset Management LLC raised its stake in shares of Pembina Pipeline by 66.5% in the first quarter. HITE Hedge Asset Management LLC now owns 722,092 shares of the pipeline company's stock valued at $28,880,000 after acquiring an additional 288,274 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Pembina Pipeline by 46.9% during the 1st quarter. Wellington Management Group LLP now owns 1,159,854 shares of the pipeline company's stock worth $46,390,000 after acquiring an additional 370,164 shares in the last quarter. Northern Trust Corp raised its position in shares of Pembina Pipeline by 11.9% during the 1st quarter. Northern Trust Corp now owns 476,205 shares of the pipeline company's stock worth $19,062,000 after purchasing an additional 50,460 shares during the last quarter. Aviso Financial Inc. raised its holdings in Pembina Pipeline by 11.6% in the 1st quarter. Aviso Financial Inc. now owns 128,344 shares of the pipeline company's stock valued at $5,136,000 after acquiring an additional 13,309 shares during the last quarter. Finally, Northwest & Ethical Investments L.P. grew its stake in shares of Pembina Pipeline by 2.3% during the 1st quarter. Northwest & Ethical Investments L.P. now owns 112,405 shares of the pipeline company's stock valued at $4,499,000 after buying an additional 2,531 shares during the period. 55.37% of the stock is currently owned by institutional investors and hedge funds.

Pembina Pipeline Stock Performance

Pembina Pipeline stock traded up $0.36 during midday trading on Wednesday, hitting $37.77. The company's stock had a trading volume of 277,650 shares, compared to its average volume of 1,346,017. Pembina Pipeline Corp. has a 1-year low of $34.13 and a 1-year high of $43.44. The company has a market cap of $21.94 billion, a price-to-earnings 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 $37.01 and a two-hundred day moving average price of $37.56.

Pembina Pipeline Increases Dividend

The firm 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. This represents a $2.84 dividend on an annualized basis and a yield of 7.5%. The ex-dividend date is Monday, September 15th. Pembina Pipeline's dividend payout ratio (DPR) is 95.77%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PBA. Wells Fargo & Company cut shares of Pembina Pipeline from a "hold" rating to a "strong sell" rating in a research report on Wednesday, August 6th. National Bank Financial upgraded shares of Pembina Pipeline from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, June 25th. Barclays restated an "overweight" rating on shares of Pembina Pipeline in a research report on Tuesday, June 3rd. Wall Street Zen lowered shares of Pembina Pipeline from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. 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 assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $56.00.

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.