Northern Trust Corp Acquires 50,460 Shares of Pembina Pipeline Corp. $PBA

Northern Trust Corp boosted its holdings in shares of Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL by 11.9% in the first quarter, according to its most recent filing with the SEC. The firm owned 476,205 shares of the pipeline company's stock after acquiring an additional 50,460 shares during the period. Northern Trust Corp owned 0.08% of Pembina Pipeline worth $19,062,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of PBA. BLI Banque de Luxembourg Investments acquired a new stake in Pembina Pipeline during the 4th quarter worth $2,150,000. Cetera Investment Advisers grew its holdings in Pembina Pipeline by 3.5% during the 4th quarter. Cetera Investment Advisers now owns 45,455 shares of the pipeline company's stock worth $1,680,000 after acquiring an additional 1,536 shares during the period. Crestline Management LP grew its holdings in Pembina Pipeline by 36.5% during the 4th quarter. Crestline Management LP now owns 49,949 shares of the pipeline company's stock worth $1,846,000 after acquiring an additional 13,347 shares during the period. Cresset Asset Management LLC boosted its position in shares of Pembina Pipeline by 45.7% during the fourth quarter. Cresset Asset Management LLC now owns 13,644 shares of the pipeline company's stock worth $504,000 after purchasing an additional 4,278 shares in the last quarter. Finally, Eagle Global Advisors LLC boosted its position in shares of Pembina Pipeline by 2.7% during the fourth quarter. Eagle Global Advisors LLC now owns 102,980 shares of the pipeline company's stock worth $3,805,000 after purchasing an additional 2,700 shares in the last quarter. Institutional investors and hedge funds own 55.37% of the company's stock.

Pembina Pipeline Stock Up 0.4%

PBA traded up $0.15 during trading on Friday, hitting $37.94. The company had a trading volume of 1,126,859 shares, compared to its average volume of 1,399,394. The company has a market capitalization of $22.04 billion, a PE ratio of 17.81 and a beta of 0.79. Pembina Pipeline Corp. has a one year low of $34.13 and a one year high of $43.44. The firm's 50-day moving average price is $37.10 and its 200 day moving average price is $37.63. 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 Increases Dividend

The business 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. The ex-dividend date of this dividend is Monday, September 15th. This represents a $2.84 annualized dividend and a yield of 7.5%. This is an increase from Pembina Pipeline's previous quarterly dividend of $0.51. Pembina Pipeline's payout ratio is presently 97.18%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Wall Street Zen cut shares of Pembina Pipeline from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Barclays reissued an "overweight" rating on shares of Pembina Pipeline in a research report on Tuesday, June 3rd. National Bankshares raised shares of Pembina Pipeline from a "sector perform" rating to an "outperform" rating in a research report on Thursday, June 26th. Raymond James Financial reissued an "outperform" rating on shares of Pembina Pipeline in a research report on Monday, August 11th. Finally, Wells Fargo & Company cut shares of Pembina Pipeline from a "hold" rating to a "strong sell" rating in a research report on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus 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.