PDT Partners LLC Reduces Holdings in Pembina Pipeline Corp. $PBA

Key Points

• PDT Partners LLC reduced its stake in Pembina Pipeline Corp. by 31.7% during Q1, selling 22,996 shares and ending with 49,551 shares valued at approximately $1,984,000.
• A number of institutional investors have adjusted their positions in Pembina, with Cetera Investment Advisers and Westwood Holdings Group Inc. increasing their stakes by 6.2% and 25.2% respectively.
• Pembina Pipeline has announced a quarterly dividend increase to $0.71 per share, representing a 7.6% yield, scheduled to be paid on September 29th.

PDT Partners LLC lowered its position in shares of Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL by 31.7% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 49,551 shares of the pipeline company's stock after selling 22,996 shares during the period. PDT Partners LLC's holdings in Pembina Pipeline were worth $1,984,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Ewing Morris & Co. Investment Partners Ltd. purchased a new stake in Pembina Pipeline during the 1st quarter valued at $160,000. Vident Advisory LLC boosted its position in Pembina Pipeline by 9.4% during the 1st quarter. Vident Advisory LLC now owns 199,672 shares of the pipeline company's stock valued at $7,986,000 after buying an additional 17,200 shares during the period. The Manufacturers Life Insurance Company boosted its position in Pembina Pipeline by 136.7% during the 1st quarter. The Manufacturers Life Insurance Company now owns 3,995,460 shares of the pipeline company's stock valued at $160,681,000 after buying an additional 2,307,634 shares during the period. Lansforsakringar Fondforvaltning AB publ raised its holdings in Pembina Pipeline by 1.6% in the 1st quarter. Lansforsakringar Fondforvaltning AB publ now owns 127,341 shares of the pipeline company's stock worth $5,093,000 after purchasing an additional 1,987 shares in the last quarter. Finally, Harvest Portfolios Group Inc. raised its holdings in Pembina Pipeline by 8.9% in the 1st quarter. Harvest Portfolios Group Inc. now owns 294,633 shares of the pipeline company's stock worth $11,785,000 after purchasing an additional 24,090 shares in the last quarter. Hedge funds and other institutional investors own 55.37% of the company's stock.

Pembina Pipeline Stock Up 0.4%

NYSE:PBA traded up $0.15 on Friday, reaching $37.94. 1,126,859 shares of the stock traded hands, compared to its average volume of 1,399,394. The company's fifty day simple moving average is $37.10 and its 200 day simple moving average is $37.63. Pembina Pipeline Corp. has a 12 month low of $34.13 and a 12 month high of $43.44. The company has a market capitalization of $22.04 billion, a price-to-earnings ratio of 17.81 and a beta of 0.79. 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 Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 15th will be paid a $0.71 dividend. This is a boost from Pembina Pipeline's previous quarterly dividend of $0.51. This represents a $2.84 dividend on an annualized basis and a dividend yield of 7.5%. The ex-dividend date is Monday, September 15th. Pembina Pipeline's dividend payout ratio (DPR) is presently 97.18%.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. BMO Capital Markets restated an "outperform" rating on shares of Pembina Pipeline in a report on Monday, August 11th. Barclays reiterated an "overweight" rating on shares of Pembina Pipeline in a research note on Tuesday, June 3rd. Wall Street Zen lowered shares of Pembina Pipeline from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Jefferies Financial Group lowered shares of Pembina Pipeline from a "buy" rating to a "hold" rating in a research note on Wednesday, July 23rd. Finally, National Bankshares upgraded shares of Pembina Pipeline from a "sector perform" rating to an "outperform" rating in a research note on Thursday, June 26th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Pembina Pipeline currently 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.