Federation des caisses Desjardins du Quebec Sells 1,114,557 Shares of Pembina Pipeline Corp. $PBA

Key Points

• Federation des caisses Desjardins du Quebec reduced its stake in Pembina Pipeline Corp. by 42.2%, now owning approximately 1.53 million shares valued at about $61 million as of the end of the first quarter.
• Pembina Pipeline recently announced a boost in its quarterly dividend from $0.51 to $0.71, resulting in a 7.5% dividend yield for investors.
• Analyst ratings for Pembina Pipeline vary, with one recent report dropping its rating to "strong sell", while another upgraded it to "strong buy." Overall, the stock holds an average rating of "Moderate Buy."

Federation des caisses Desjardins du Quebec reduced its holdings in Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL by 42.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,528,934 shares of the pipeline company's stock after selling 1,114,557 shares during the period. Federation des caisses Desjardins du Quebec owned about 0.26% of Pembina Pipeline worth $61,076,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of PBA. First Horizon Advisors Inc. increased 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 worth $27,000 after purchasing 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 lifted its position in shares of Pembina Pipeline by 100.0% in the 4th quarter. Dunhill Financial LLC now owns 1,350 shares of the pipeline company's stock worth $50,000 after acquiring an additional 675 shares during the period. Larson Financial Group LLC lifted its position 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 worth $54,000 after acquiring an additional 467 shares during the period. Finally, Versant Capital Management Inc lifted its position in shares of Pembina Pipeline by 108.3% during the 1st quarter. Versant Capital Management Inc now owns 1,525 shares of the pipeline company's stock worth $61,000 after buying an additional 793 shares during the period. 55.37% of the stock is owned by hedge funds and other institutional investors.

Pembina Pipeline Stock Up 0.4%

Shares of NYSE:PBA traded up $0.15 during midday trading on Friday, reaching $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 quick ratio of 0.62, a current ratio of 0.77 and a debt-to-equity ratio of 0.81. The business's 50 day moving average price is $37.10 and its 200 day moving average price is $37.62. The stock has a market cap of $22.04 billion, a PE ratio of 17.81 and a beta of 0.79. Pembina Pipeline Corp. has a 1-year low of $34.13 and a 1-year high of $43.44.

Pembina Pipeline Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Stockholders 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 is a positive change from Pembina Pipeline's previous quarterly dividend of $0.51. This represents a $2.84 annualized dividend and a dividend yield of 7.5%. Pembina Pipeline's dividend payout ratio (DPR) is currently 95.77%.

Analysts Set New Price Targets

Several research firms recently commented on PBA. Wall Street Zen downgraded Pembina Pipeline from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Wells Fargo & Company downgraded Pembina Pipeline from a "hold" rating to a "strong sell" rating in a research report on Wednesday, August 6th. National Bankshares upgraded Pembina Pipeline from a "sector perform" rating to an "outperform" rating in a research report on Thursday, June 26th. Barclays reissued an "overweight" rating on shares of Pembina Pipeline in a research note on Tuesday, June 3rd. Finally, Jefferies Financial Group cut Pembina Pipeline from a "buy" rating to a "hold" rating in a research note on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy".

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.