Pembina Pipeline Corp. $PBA Shares Bought by Intech Investment Management LLC

Key Points

• Intech Investment Management LLC increased its stake in Pembina Pipeline Corp. by purchasing 33,623 shares, lifting its total holdings to 47,233 shares valued at approximately $1.89 million.
• Pembina Pipeline recently announced a dividend increase from $0.51 to $0.71, resulting in a new annualized dividend of $2.84 with a yield of 7.2%.
• Analyst ratings for Pembina Pipeline show a consensus of "Moderate Buy" with one "Strong Buy," six "Buy," one "Hold," and one "Sell" rating from various investment firms.

Intech Investment Management LLC grew its holdings in shares of Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL by 247.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 47,233 shares of the pipeline company's stock after buying an additional 33,623 shares during the quarter. Intech Investment Management LLC's holdings in Pembina Pipeline were worth $1,889,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Goldman Sachs Group Inc. raised its position in Pembina Pipeline by 78.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 7,088,945 shares of the pipeline company's stock worth $283,770,000 after purchasing an additional 3,108,920 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in Pembina Pipeline by 1,591.4% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 3,155,558 shares of the pipeline company's stock worth $116,440,000 after purchasing an additional 2,968,994 shares during the period. The Manufacturers Life Insurance Company raised its position in Pembina Pipeline by 136.7% in the 1st quarter. The Manufacturers Life Insurance Company now owns 3,995,460 shares of the pipeline company's stock worth $160,681,000 after purchasing an additional 2,307,634 shares during the period. Nuveen LLC purchased a new stake in Pembina Pipeline in the 1st quarter worth about $83,743,000. Finally, Mackenzie Financial Corp raised its position in Pembina Pipeline by 10.6% in the 4th quarter. Mackenzie Financial Corp now owns 13,930,847 shares of the pipeline company's stock worth $514,154,000 after purchasing an additional 1,331,294 shares during the period. 55.37% of the stock is currently owned by hedge funds and other institutional investors.

Pembina Pipeline Stock Up 0.5%

PBA traded up $0.20 during trading on Friday, hitting $40.03. The stock had a trading volume of 975,783 shares, compared to its average volume of 1,379,008. The company has a market capitalization of $23.25 billion, a PE ratio of 18.79 and a beta of 0.79. Pembina Pipeline Corp. has a twelve month low of $34.13 and a twelve month high of $43.44. 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 stock has a 50 day simple moving average of $37.53 and a two-hundred day simple moving average of $37.77.

Pembina Pipeline Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 7.1%. This is a positive change from Pembina Pipeline's previous quarterly dividend of $0.51. The ex-dividend date is Monday, September 15th. Pembina Pipeline's payout ratio is 96.24%.

Wall Street Analysts Forecast Growth

PBA has been the topic of a number of recent analyst reports. National Bank Financial raised shares of Pembina Pipeline from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, June 25th. BMO Capital Markets reissued an "outperform" rating on shares of Pembina Pipeline in a research report on Monday, August 11th. National Bankshares raised shares of Pembina Pipeline from a "sector perform" rating to an "outperform" rating in a research report on Thursday, June 26th. Raymond James Financial reaffirmed an "outperform" rating on shares of Pembina Pipeline in a research report on Monday, August 11th. Finally, Barclays reaffirmed an "overweight" rating on shares of Pembina Pipeline in a research report on Tuesday, June 3rd. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy".

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.