Jones Financial Companies Lllp Buys 359,350 Shares of Pembina Pipeline Corp. $PBA

Key Points

• Jones Financial Companies Lllp significantly increased its holdings in Pembina Pipeline Corp. by 1,488.2% during the first quarter, owning approximately $15.35 million worth of shares.
• Pembina Pipeline announced a quarterly dividend increase from $0.51 to $0.71, representing a 7.5% dividend yield.
• The stock has received multiple analyst upgrades, with a current consensus rating of "Moderate Buy", reflecting growing confidence in Pembina's market performance.

Jones Financial Companies Lllp increased its position in shares of Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL by 1,488.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 383,497 shares of the pipeline company's stock after acquiring an additional 359,350 shares during the quarter. Jones Financial Companies Lllp owned 0.07% of Pembina Pipeline worth $15,351,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Pembina Pipeline by 1.6% during the first quarter. Vanguard Group Inc. now owns 25,296,456 shares of the pipeline company's stock valued at $1,011,833,000 after acquiring an additional 409,379 shares during the period. Mackenzie Financial Corp increased its stake 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 valued at $514,154,000 after buying an additional 1,331,294 shares during the period. TD Asset Management Inc increased its stake in Pembina Pipeline by 2.4% in the 1st quarter. TD Asset Management Inc now owns 6,950,836 shares of the pipeline company's stock valued at $277,985,000 after buying an additional 161,114 shares during the period. Scotia Capital Inc. increased its stake in Pembina Pipeline by 5.2% in the 1st quarter. Scotia Capital Inc. now owns 5,230,781 shares of the pipeline company's stock valued at $208,856,000 after buying an additional 260,804 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake 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 valued at $160,681,000 after buying an additional 2,307,634 shares during the period. Institutional investors and hedge funds own 55.37% of the company's stock.

Pembina Pipeline Stock Up 0.7%

PBA stock traded up $0.29 during trading hours on Friday, hitting $39.31. The company's stock had a trading volume of 743,558 shares, compared to its average volume of 1,338,026. 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 company has a market capitalization of $22.83 billion, a PE ratio of 18.43 and a beta of 0.79. Pembina Pipeline Corp. has a 12 month low of $34.13 and a 12 month high of $43.44. The stock has a 50 day moving average price of $37.20 and a two-hundred day moving average price of $37.68.

Pembina Pipeline Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be issued a $0.71 dividend. 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 dividend on an annualized basis and a yield of 7.2%. Pembina Pipeline's payout ratio is currently 95.77%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. BMO Capital Markets reiterated an "outperform" rating on shares of Pembina Pipeline in a research note on Monday, August 11th. Wall Street Zen lowered shares of Pembina Pipeline from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Raymond James Financial reiterated an "outperform" rating on shares of Pembina Pipeline in a research note on Monday, August 11th. Jefferies Financial Group lowered shares of Pembina Pipeline from a "buy" rating to a "hold" rating in a research note on Wednesday, July 23rd. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy".

Pembina Pipeline Company 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.