Nuveen LLC Invests $83.74 Million in Pembina Pipeline Corp. (NYSE:PBA)

Key Points

• Nuveen LLC has invested approximately $83.74 million in Pembina Pipeline Corp., acquiring over 2 million shares and representing a 0.36% ownership stake.
• Pembina Pipeline's quarterly dividend has increased to $0.71 per share, yielding 8.0%, with the ex-dividend date set for September 15th.
• Analysts have mixed perspectives on Pembina Pipeline, with ratings ranging from sell to strong buy, resulting in a current consensus rating of "Moderate Buy" and an average price target of $56.00.

Nuveen LLC acquired a new stake in shares of Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL during the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 2,093,941 shares of the pipeline company's stock, valued at approximately $83,743,000. Nuveen LLC owned approximately 0.36% of Pembina Pipeline as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of PBA. First Horizon Advisors Inc. boosted its holdings in shares of Pembina Pipeline by 69.9% during the 1st quarter. First Horizon Advisors Inc. now owns 673 shares of the pipeline company's stock valued at $27,000 after purchasing an additional 277 shares during the last quarter. JCIC Asset Management Inc. lifted its holdings in shares of Pembina Pipeline by 6.8% in the 1st quarter. JCIC Asset Management Inc. now owns 5,133 shares of the pipeline company's stock valued at $205,000 after acquiring an additional 325 shares during the last quarter. Hexagon Capital Partners LLC lifted its holdings in shares of Pembina Pipeline by 17.0% in the 1st quarter. Hexagon Capital Partners LLC now owns 2,397 shares of the pipeline company's stock valued at $96,000 after acquiring an additional 349 shares during the last quarter. Albert D Mason Inc. lifted its holdings in shares of Pembina Pipeline by 1.0% in the 1st quarter. Albert D Mason Inc. now owns 43,073 shares of the pipeline company's stock valued at $1,724,000 after acquiring an additional 426 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its holdings in shares of Pembina Pipeline by 4.5% in the 4th quarter. NewEdge Advisors LLC now owns 9,883 shares of the pipeline company's stock valued at $365,000 after acquiring an additional 430 shares during the last quarter. 55.37% of the stock is owned by institutional investors.

Pembina Pipeline Trading Down 0.0%

Pembina Pipeline stock traded down $0.01 during midday trading on Friday, reaching $36.69. The stock had a trading volume of 865,085 shares, compared to its average volume of 1,017,709. 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 52-week low of $34.13 and a 52-week high of $43.44. The firm has a market cap of $21.31 billion, a price-to-earnings ratio of 17.23 and a beta of 0.78. The company has a fifty day moving average of $37.05 and a 200 day moving average of $37.51.

Pembina Pipeline Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be given a $0.71 dividend. This is an increase 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 7.7%. Pembina Pipeline's dividend payout ratio is currently 97.18%.

Analyst Ratings Changes

PBA has been the subject of a number of analyst reports. Jefferies Financial Group downgraded shares of Pembina Pipeline from a "buy" rating to a "hold" rating in a report on Wednesday, July 23rd. Barclays reaffirmed an "overweight" rating on shares of Pembina Pipeline in a report on Tuesday, June 3rd. National Bank Financial raised shares of Pembina Pipeline from a "hold" rating to a "strong-buy" rating in a report on Wednesday, June 25th. Wells Fargo & Company downgraded shares of Pembina Pipeline from a "hold" rating to a "strong sell" rating in a report on Wednesday, August 6th. Finally, Raymond James Financial reaffirmed an "outperform" rating on shares of Pembina Pipeline in a report on Monday, August 11th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $56.00.

About Pembina Pipeline

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.