Nuveen Asset Management LLC Buys 435,763 Shares of Pembina Pipeline Co. (NYSE:PBA)

Nuveen Asset Management LLC lifted its holdings in Pembina Pipeline Co. (NYSE:PBA - Free Report) TSE: PPL by 28.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,943,874 shares of the pipeline company's stock after acquiring an additional 435,763 shares during the quarter. Nuveen Asset Management LLC owned 0.33% of Pembina Pipeline worth $71,784,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PBA. Sound Income Strategies LLC bought a new position in Pembina Pipeline in the fourth quarter worth about $27,000. Principal Securities Inc. grew its holdings in Pembina Pipeline by 2,597.1% in the fourth quarter. Principal Securities Inc. now owns 917 shares of the pipeline company's stock valued at $34,000 after purchasing an additional 883 shares during the last quarter. Venturi Wealth Management LLC lifted its position in Pembina Pipeline by 880.0% during the fourth quarter. Venturi Wealth Management LLC now owns 980 shares of the pipeline company's stock worth $36,000 after buying an additional 880 shares during the period. VSM Wealth Advisory LLC acquired a new stake in shares of Pembina Pipeline in the fourth quarter valued at about $37,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Pembina Pipeline in the 4th quarter worth approximately $40,000. 55.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Citigroup raised Pembina Pipeline from a "neutral" rating to a "buy" rating in a report on Monday, March 10th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $56.00.

Pembina Pipeline Stock Down 0.7%

NYSE PBA traded down $0.26 during trading on Wednesday, reaching $37.33. 1,623,503 shares of the company's stock traded hands, compared to its average volume of 1,274,543. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.65 and a quick ratio of 0.51. Pembina Pipeline Co. has a 12-month low of $34.13 and a 12-month high of $43.44. The company's 50 day simple moving average is $38.27 and its two-hundred day simple moving average is $38.22. The firm has a market cap of $21.68 billion, a price-to-earnings ratio of 15.42 and a beta of 0.81.

Pembina Pipeline (NYSE:PBA - Get Free Report) TSE: PPL last released its earnings results on Thursday, May 8th. The pipeline company reported $0.80 EPS for the quarter, beating analysts' consensus estimates of $0.57 by $0.23. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.47 billion. Pembina Pipeline had a return on equity of 13.62% and a net margin of 25.39%. Pembina Pipeline's quarterly revenue was up 48.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.73 earnings per share. As a group, sell-side analysts forecast that Pembina Pipeline Co. will post 2.15 EPS for the current fiscal year.

Pembina Pipeline Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be given a dividend of $0.5109 per share. This is an increase from Pembina Pipeline's previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Monday, June 16th. This represents a $2.04 annualized dividend and a dividend yield of 5.47%. Pembina Pipeline's dividend payout ratio is currently 89.14%.

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.