MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Acquires 713,017 Shares of Pembina Pipeline Corp. $PBA

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Pembina Pipeline Corp. by 27.3%, now owning approximately $133.27 million worth of shares.
• Institutional investors collectively hold 55.37% of Pembina Pipeline's stock, indicating significant interest and investment in the company.
• Pembina Pipeline recently announced a quarterly dividend of $0.71, reflecting a positive change from its previous dividend, with an annualized dividend yield of 7.5%.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL by 27.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,329,122 shares of the pipeline company's stock after purchasing an additional 713,017 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.57% of Pembina Pipeline worth $133,265,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Cetera Investment Advisers increased its stake in shares of Pembina Pipeline by 6.2% in the 1st quarter. Cetera Investment Advisers now owns 48,289 shares of the pipeline company's stock worth $1,933,000 after acquiring an additional 2,834 shares in the last quarter. Westwood Holdings Group Inc. increased its stake in shares of Pembina Pipeline by 25.2% in the 1st quarter. Westwood Holdings Group Inc. now owns 1,428,833 shares of the pipeline company's stock worth $57,196,000 after acquiring an additional 288,003 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Pembina Pipeline by 11.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 18,182 shares of the pipeline company's stock worth $728,000 after acquiring an additional 1,824 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Pembina Pipeline by 1.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,571,245 shares of the pipeline company's stock worth $62,839,000 after acquiring an additional 25,265 shares in the last quarter. Finally, Catalyst Capital Advisors LLC increased its stake in shares of Pembina Pipeline by 18.0% in the 1st quarter. Catalyst Capital Advisors LLC now owns 445,057 shares of the pipeline company's stock worth $17,816,000 after acquiring an additional 67,797 shares in the last quarter. 55.37% of the stock is currently owned by institutional investors.

Pembina Pipeline Price Performance

NYSE:PBA traded up $0.28 during trading hours on Wednesday, hitting $38.57. 460,726 shares of the stock traded hands, compared to its average volume of 1,335,570. The company has a quick ratio of 0.62, a current ratio of 0.77 and a debt-to-equity ratio of 0.81. 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 $22.41 billion, a price-to-earnings ratio of 18.13 and a beta of 0.79. The stock has a 50 day moving average price of $37.13 and a 200 day moving average price of $37.66.

Pembina Pipeline Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 15th will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 7.4%. 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. Pembina Pipeline's payout ratio is presently 97.18%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Jefferies Financial Group lowered shares of Pembina Pipeline from a "buy" rating to a "hold" rating in a research note on Wednesday, July 23rd. Raymond James Financial restated an "outperform" rating on shares of Pembina Pipeline in a research note on Monday, August 11th. BMO Capital Markets restated an "outperform" rating on shares of Pembina Pipeline in a research note on Monday, August 11th. Wells Fargo & Company lowered shares of Pembina Pipeline from a "hold" rating to a "strong sell" rating in a research note on Wednesday, August 6th. Finally, Wall Street Zen lowered shares of Pembina Pipeline from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average 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.