Pembina Pipeline Corp. $PBA Shares Acquired by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. increased its stake in Pembina Pipeline Corp. by 78.1% during the first quarter, holding a total of 7,088,945 shares valued at approximately $283.77 million.
• Pembina Pipeline recently declared a quarterly dividend of $0.71, which is an increase from its previous dividend of $0.51, reflecting a 7.4% yield on an annualized basis.
• Analysts generally have a positive outlook on Pembina Pipeline, with a current average rating of "Moderate Buy," and several firms upgrading their ratings recently.

Goldman Sachs Group Inc. increased its holdings in Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL by 78.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 7,088,945 shares of the pipeline company's stock after buying an additional 3,108,920 shares during the period. Goldman Sachs Group Inc. owned about 1.22% of Pembina Pipeline worth $283,770,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. First Horizon Advisors Inc. boosted its holdings in shares of 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 period. N.E.W. Advisory Services LLC acquired a new position in shares of Pembina Pipeline in the 1st quarter valued at about $27,000. Larson Financial Group LLC boosted its holdings in shares of 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 period. Versant Capital Management Inc boosted its holdings in shares of 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 period. Finally, Dunhill Financial LLC boosted its holdings in shares of Pembina Pipeline by 42.6% in the 1st quarter. Dunhill Financial LLC now owns 1,925 shares of the pipeline company's stock valued at $77,000 after buying an additional 575 shares during the period. 55.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently commented on PBA shares. National Bank Financial raised shares of Pembina Pipeline from a "hold" rating to a "strong-buy" rating in a report on Wednesday, June 25th. BMO Capital Markets reissued an "outperform" rating on shares of Pembina Pipeline in a research note on Monday, August 11th. National Bankshares raised shares of Pembina Pipeline from a "sector perform" rating to an "outperform" rating in a research note on Thursday, June 26th. Raymond James Financial reissued an "outperform" rating on shares of Pembina Pipeline in a research note on Monday, August 11th. Finally, Wall Street Zen lowered shares of Pembina Pipeline from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy".

Pembina Pipeline Trading Up 0.7%

Shares of NYSE:PBA opened at $38.32 on Wednesday. The company has a 50 day moving average of $37.13 and a 200-day moving average of $37.66. The firm has a market cap of $22.26 billion, a P/E ratio of 17.99 and a beta of 0.79. Pembina Pipeline Corp. has a twelve month low of $34.13 and a twelve month 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 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. The ex-dividend date of this dividend is Monday, September 15th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 7.4%. This is an increase from Pembina Pipeline's previous quarterly dividend of $0.51. Pembina Pipeline's dividend payout ratio (DPR) is currently 97.18%.

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.

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