Pembina Pipeline Corp. (NYSE:PBA) Shares Bought by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. increased its ownership in Pembina Pipeline Corp. by 1.6% in Q1, now holding approximately 4.35% of the company, worth over $1 billion.
• Pembina Pipeline announced a quarterly dividend of $0.71, an increase from the previous $0.51, representing an annual yield of 7.9%.
• The stock has a consensus rating of "Moderate Buy" with an average price target of $56.00, despite mixed ratings from various analysts.

Vanguard Group Inc. grew its holdings in Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL by 1.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 25,296,456 shares of the pipeline company's stock after purchasing an additional 409,379 shares during the quarter. Vanguard Group Inc. owned 4.35% of Pembina Pipeline worth $1,011,833,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wells Fargo & Company MN raised its holdings in Pembina Pipeline by 4.5% in the fourth quarter. Wells Fargo & Company MN now owns 215,118 shares of the pipeline company's stock valued at $7,949,000 after acquiring an additional 9,325 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in Pembina Pipeline by 5.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 308,872 shares of the pipeline company's stock valued at $11,413,000 after acquiring an additional 15,002 shares in the last quarter. Invesco Ltd. raised its holdings in Pembina Pipeline by 8.6% in the fourth quarter. Invesco Ltd. now owns 1,624,743 shares of the pipeline company's stock valued at $60,034,000 after acquiring an additional 128,176 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in Pembina Pipeline in the fourth quarter valued at approximately $2,995,000. Finally, Raymond James Financial Inc. acquired a new stake in Pembina Pipeline in the fourth quarter valued at approximately $2,832,000. Hedge funds and other institutional investors own 55.37% of the company's stock.

Wall Street Analysts Forecast Growth

PBA has been the topic of several analyst reports. National Bankshares raised shares of Pembina Pipeline from a "sector perform" rating to an "outperform" rating in a report on Thursday, June 26th. BMO Capital Markets reissued an "outperform" rating on shares of Pembina Pipeline in a report on Monday. Jefferies Financial Group cut shares of Pembina Pipeline from a "buy" rating to a "hold" rating in a report on Wednesday, July 23rd. Wells Fargo & Company cut shares of Pembina Pipeline from a "hold" rating to a "strong sell" rating in a report on Wednesday, August 6th. Finally, National Bank Financial raised shares of Pembina Pipeline from a "hold" rating to a "strong-buy" rating in a report on Wednesday, June 25th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Pembina Pipeline has an average rating of "Moderate Buy" and an average target price of $56.00.

Pembina Pipeline Stock Performance

Shares of Pembina Pipeline stock traded up $0.05 during trading on Friday, reaching $36.75. The company's stock had a trading volume of 278,285 shares, compared to its average volume of 1,315,139. The company has a 50-day moving average price of $37.07 and a two-hundred day moving average price of $37.50. The firm has a market cap of $21.35 billion, a PE ratio of 17.24 and a beta of 0.78. Pembina Pipeline Corp. has a fifty-two week low of $34.13 and a fifty-two week high of $43.44. 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 firm 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 dividend on an annualized basis and a dividend yield of 7.7%. 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. Pembina Pipeline's dividend payout ratio is presently 97.18%.

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.