Quantbot Technologies LP Decreases Stock Holdings in Pembina Pipeline Corp. $PBA

Key Points

• Quantbot Technologies LP reduced its holdings in Pembina Pipeline Corp. by 31.2% in the first quarter, now owning 46,043 shares worth approximately $1.84 million.
• Pembina Pipeline increased its quarterly dividend to $0.71, significantly up from the previous $0.51, resulting in an annualized yield of 7.5%.
• Analysts have mixed ratings on Pembina Pipeline, with one giving a Strong Buy and others varying from Buy to Sell; the average price target is set at $56.00.

Quantbot Technologies LP cut its stake in shares of Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL by 31.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 46,043 shares of the pipeline company's stock after selling 20,850 shares during the quarter. Quantbot Technologies LP's holdings in Pembina Pipeline were worth $1,843,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in Pembina Pipeline by 1,591.4% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 3,155,558 shares of the pipeline company's stock valued at $116,440,000 after acquiring an additional 2,968,994 shares during the last quarter. Nuveen LLC bought a new position in shares of Pembina Pipeline during the 1st quarter valued at approximately $83,743,000. Mackenzie Financial Corp lifted its holdings in Pembina Pipeline by 10.6% in the 4th quarter. Mackenzie Financial Corp now owns 13,930,847 shares of the pipeline company's stock worth $514,154,000 after purchasing an additional 1,331,294 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Pembina Pipeline by 55.2% during the 1st quarter. Invesco Ltd. now owns 2,522,129 shares of the pipeline company's stock worth $100,961,000 after acquiring an additional 897,386 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Pembina Pipeline by 21.4% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,616,105 shares of the pipeline company's stock valued at $96,665,000 after acquiring an additional 460,646 shares during the last quarter. Institutional investors and hedge funds own 55.37% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on PBA shares. Jefferies Financial Group cut Pembina Pipeline from a "buy" rating to a "hold" rating in a research report on Wednesday, July 23rd. Barclays reiterated an "overweight" rating on shares of Pembina Pipeline in a research report on Tuesday, June 3rd. 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 reiterated an "outperform" rating on shares of Pembina Pipeline in a report on Monday, August 11th. Finally, Wall Street Zen downgraded Pembina Pipeline from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Pembina Pipeline has an average rating of "Moderate Buy" and a consensus target price of $56.00.

Pembina Pipeline Stock Performance

PBA traded up $0.34 on Wednesday, hitting $37.75. The company's stock had a trading volume of 277,650 shares, compared to its average volume of 1,346,017. The company's 50 day simple moving average is $37.01 and its 200-day simple moving average is $37.56. The firm has a market cap of $21.93 billion, a P/E ratio of 17.73 and a beta of 0.78. Pembina Pipeline Corp. has a 12 month low of $34.13 and a 12 month high of $43.44. 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. Stockholders of record on Monday, September 15th will be given a dividend of $0.71 per share. This is an increase 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 dividend yield of 7.5%. Pembina Pipeline's dividend payout ratio is 95.77%.

Pembina Pipeline Company 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.