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

A number of other institutional investors have also made changes to their positions in the company. Cetera Investment Advisers boosted its position in Pembina Pipeline by 6.2% during 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 during the period. Westwood Holdings Group Inc. boosted its position in Pembina Pipeline by 25.2% during 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 during the period. Wealth Enhancement Advisory Services LLC boosted its position in Pembina Pipeline by 11.2% during 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 during the period. Bank of Nova Scotia Trust Co. lifted its holdings in shares of Pembina Pipeline by 20.9% in the fourth quarter. Bank of Nova Scotia Trust Co. now owns 337,379 shares of the pipeline company's stock valued at $12,466,000 after buying an additional 58,366 shares during the period. Finally, Catalyst Capital Advisors LLC raised its position in shares of Pembina Pipeline by 18.0% during the first quarter. Catalyst Capital Advisors LLC now owns 445,057 shares of the pipeline company's stock worth $17,816,000 after purchasing an additional 67,797 shares during the period. 55.37% of the stock is currently owned by institutional investors.

Pembina Pipeline Stock Down 0.0%

Shares of NYSE:PBA traded down $0.01 during midday trading on Friday, reaching $36.69. The company 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. The business's 50 day moving average price is $37.05 and its 200 day moving average price is $37.50. The stock has a market cap of $21.31 billion, a PE ratio of 17.23 and a beta of 0.78. Pembina Pipeline Corp. has a 1-year low of $34.13 and a 1-year high of $43.44.

Pembina Pipeline Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 15th will be given 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 dividend yield of 7.7%. Pembina Pipeline's dividend payout ratio (DPR) is currently 97.18%.

Analysts Set New Price Targets

Several brokerages have weighed in on PBA. Barclays reaffirmed an "overweight" rating on shares of Pembina Pipeline in a research report on Tuesday, June 3rd. BMO Capital Markets reissued an "outperform" rating on shares of Pembina Pipeline in a report on Monday. National Bank Financial raised Pembina Pipeline from a "hold" rating to a "strong-buy" rating in a report on Wednesday, June 25th. Raymond James Financial reissued an "outperform" rating on shares of Pembina Pipeline in a research note on Monday. Finally, Wall Street Zen lowered Pembina Pipeline from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Two research analysts have rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Pembina Pipeline currently has an average rating of "Moderate Buy" and a consensus target price 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.