Miller Howard Investments Inc. NY Buys 69,937 Shares of Pembina Pipeline Corp. $PBA

Key Points

• Miller Howard Investments Inc. increased its stake in Pembina Pipeline Corp. by 15.9% in Q2, owning around 0.09% of the company valued at $19 million.
• Pembina Pipeline announced a quarterly dividend of $0.71 per share, up from the previous $0.51, resulting in an annualized yield of 7.1%.
• As of now, Pembina Pipeline has a market cap of $23.25 billion and a current stock price of $40.03, with recent analyst ratings ranging from "strong sell" to "strong buy".

Miller Howard Investments Inc. NY boosted its stake in shares of Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL by 15.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 508,891 shares of the pipeline company's stock after buying an additional 69,937 shares during the period. Miller Howard Investments Inc. NY owned 0.09% of Pembina Pipeline worth $19,089,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Goldman Sachs Group Inc. lifted its holdings in shares of Pembina Pipeline by 78.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 7,088,945 shares of the pipeline company's stock valued at $283,770,000 after purchasing an additional 3,108,920 shares during the last quarter. The Manufacturers Life Insurance Company lifted 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 worth $160,681,000 after purchasing an additional 2,307,634 shares in the last quarter. Nuveen LLC acquired a new position in Pembina Pipeline in the first quarter valued at approximately $83,743,000. Mackenzie Financial Corp raised its position in Pembina Pipeline by 10.6% in the fourth quarter. Mackenzie Financial Corp now owns 13,930,847 shares of the pipeline company's stock valued at $514,154,000 after purchasing an additional 1,331,294 shares during the period. Finally, Invesco Ltd. increased its position in shares of Pembina Pipeline by 55.2% during the first quarter. Invesco Ltd. now owns 2,522,129 shares of the pipeline company's stock worth $100,961,000 after acquiring an additional 897,386 shares during the period. Hedge funds and other institutional investors own 55.37% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on PBA shares. BMO Capital Markets restated an "outperform" rating on shares of Pembina Pipeline in a research report on Monday, August 11th. 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. Barclays reaffirmed an "overweight" rating on shares of Pembina Pipeline in a report on Tuesday, June 3rd. National Bankshares upgraded shares of Pembina Pipeline from a "sector perform" rating to an "outperform" rating in a research report on Thursday, June 26th. Finally, Wall Street Zen cut shares of Pembina Pipeline from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy".

Pembina Pipeline Price Performance

Shares of NYSE PBA traded up $0.54 during midday trading on Tuesday, hitting $40.26. 383,408 shares of the company's stock were exchanged, compared to its average volume of 1,332,938. The company has a market cap of $23.39 billion, a price-to-earnings ratio of 18.89 and a beta of 0.79. The business's fifty day moving average price is $37.58 and its two-hundred day moving average price is $37.78. The company has a current ratio of 0.77, a quick ratio of 0.62 and a debt-to-equity ratio of 0.81. Pembina Pipeline Corp. has a 12-month low of $34.13 and a 12-month high of $43.44.

Pembina Pipeline Increases Dividend

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

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.