Hsbc Holdings PLC Acquires 541,266 Shares of 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 grew its holdings in Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL by 47.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,683,036 shares of the pipeline company's stock after purchasing an additional 541,266 shares during the period. Hsbc Holdings PLC owned about 0.29% of Pembina Pipeline worth $67,319,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PBA. First Horizon Advisors Inc. raised its holdings in shares of Pembina Pipeline by 69.9% in the first 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 during the last quarter. N.E.W. Advisory Services LLC acquired a new stake in shares of Pembina Pipeline in the first quarter valued at approximately $27,000. Dunhill Financial LLC raised its holdings in shares of Pembina Pipeline by 100.0% in the fourth quarter. Dunhill Financial LLC now owns 1,350 shares of the pipeline company's stock valued at $50,000 after purchasing an additional 675 shares during the last quarter. Larson Financial Group LLC raised its holdings in shares of Pembina Pipeline by 53.4% in the first quarter. Larson Financial Group LLC now owns 1,341 shares of the pipeline company's stock valued at $54,000 after purchasing an additional 467 shares during the last quarter. Finally, Versant Capital Management Inc raised its holdings in shares of Pembina Pipeline by 108.3% in the first quarter. Versant Capital Management Inc now owns 1,525 shares of the pipeline company's stock valued at $61,000 after purchasing an additional 793 shares during the last quarter. 55.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PBA. National Bankshares raised shares of Pembina Pipeline from a "sector perform" rating to an "outperform" rating in a research note on Thursday, June 26th. Barclays reissued an "overweight" rating on shares of Pembina Pipeline in a research note on Tuesday, June 3rd. Raymond James Financial reissued an "outperform" rating on shares of Pembina Pipeline in a research note on Monday, August 11th. Wall Street Zen cut shares of Pembina Pipeline from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Finally, National Bank Financial raised shares of Pembina Pipeline from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, June 25th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $56.00.

Pembina Pipeline Stock Performance

PBA stock traded down $0.2720 during midday trading on Monday, reaching $37.8080. 2,208,288 shares of the company were exchanged, compared to its average volume of 1,338,465. 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 business has a 50-day moving average price of $37.01 and a two-hundred day moving average price of $37.56. Pembina Pipeline Corp. has a one year low of $34.13 and a one year high of $43.44. The firm has a market capitalization of $21.96 billion, a price-to-earnings ratio of 17.75 and a beta of 0.78.

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 given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 7.5%. This is a positive change from Pembina Pipeline's previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Monday, September 15th. Pembina Pipeline's dividend payout ratio (DPR) is presently 97.18%.

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.