Vanguard Group Inc. Purchases 409,379 Shares of Pembina Pipeline Corp. (NYSE:PBA)

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. lifted its holdings in shares of Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL by 1.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (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 quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. First Horizon Advisors Inc. raised its position in Pembina Pipeline by 69.9% in the 1st quarter. First Horizon Advisors Inc. now owns 673 shares of the pipeline company's stock valued at $27,000 after buying an additional 277 shares during the last quarter. N.E.W. Advisory Services LLC acquired a new stake in Pembina Pipeline in the 1st quarter valued at approximately $27,000. Dunhill Financial LLC raised its position in Pembina Pipeline by 100.0% in the 4th quarter. Dunhill Financial LLC now owns 1,350 shares of the pipeline company's stock valued at $50,000 after buying an additional 675 shares during the last quarter. Larson Financial Group LLC raised its position in Pembina Pipeline by 53.4% in the 1st quarter. Larson Financial Group LLC now owns 1,341 shares of the pipeline company's stock valued at $54,000 after buying an additional 467 shares during the last quarter. Finally, Versant Capital Management Inc raised its position in Pembina Pipeline by 108.3% in the 1st quarter. Versant Capital Management Inc now owns 1,525 shares of the pipeline company's stock valued at $61,000 after buying an additional 793 shares during the last quarter. Institutional investors and hedge funds own 55.37% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on PBA shares. National Bankshares raised Pembina Pipeline from a "sector perform" rating to an "outperform" rating in a research report on Thursday, June 26th. BMO Capital Markets restated an "outperform" rating on shares of Pembina Pipeline in a research note on Monday. Wells Fargo & Company downgraded Pembina Pipeline from a "hold" rating to a "strong sell" rating in a research note on Wednesday, August 6th. National Bank Financial upgraded Pembina Pipeline from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, June 25th. Finally, Barclays restated an "overweight" rating on shares of Pembina Pipeline in a research note on Tuesday, June 3rd. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $56.00.

Pembina Pipeline Stock Performance

Shares of NYSE PBA traded down $0.01 during midday trading on Friday, hitting $36.69. 865,085 shares of the company's stock were exchanged, 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 12 month low of $34.13 and a 12 month high of $43.44. The company's 50 day moving average price is $37.05 and its 200 day moving average price is $37.50. The firm has a market capitalization of $21.31 billion, a PE ratio of 17.23 and a beta of 0.78.

Pembina Pipeline Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors 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. The ex-dividend date is Monday, September 15th. This represents a $2.84 annualized dividend and a yield of 7.7%. Pembina Pipeline's dividend payout ratio is presently 97.18%.

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.