Tortoise Capital Advisors L.L.C. Sells 137,404 Shares of Pembina Pipeline Corp. $PBA

Key Points

• Tortoise Capital Advisors L.L.C. has reduced its stake in Pembina Pipeline Corp. by 3.2% during the first quarter, now owning 4,102,649 shares, which represents about 2.0% of its investment portfolio.
• Pembina Pipeline Corp. has announced a quarterly dividend of $0.71 per share, up from a previous dividend of $0.51, marking an annualized dividend of $2.84 and a yield of 7.5%.
• Analyst ratings for Pembina Pipeline have been mixed, with one analyst rating the stock as Strong Buy while others have issued downgrades, resulting in an average rating of Moderate Buy and a consensus target price of $56.00.

Tortoise Capital Advisors L.L.C. lowered its position in shares of Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL by 3.2% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,102,649 shares of the pipeline company's stock after selling 137,404 shares during the period. Pembina Pipeline comprises about 2.0% of Tortoise Capital Advisors L.L.C.'s investment portfolio, making the stock its 16th biggest holding. Tortoise Capital Advisors L.L.C. owned approximately 0.71% of Pembina Pipeline worth $164,169,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. First Horizon Advisors Inc. lifted its stake in Pembina Pipeline by 69.9% in the first quarter. First Horizon Advisors Inc. now owns 673 shares of the pipeline company's stock worth $27,000 after acquiring an additional 277 shares during the period. N.E.W. Advisory Services LLC purchased a new stake in Pembina Pipeline in the first quarter worth $27,000. Dunhill Financial LLC lifted its stake in Pembina Pipeline by 100.0% in the fourth 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 stake in Pembina Pipeline by 53.4% in the first 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 stake in Pembina Pipeline by 108.3% in the first quarter. Versant Capital Management Inc now owns 1,525 shares of the pipeline company's stock worth $61,000 after acquiring an additional 793 shares during the period. Hedge funds and other institutional investors own 55.37% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented 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. National Bank Financial raised Pembina Pipeline from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, June 25th. Jefferies Financial Group lowered Pembina Pipeline from a "buy" rating to a "hold" rating in a research report on Wednesday, July 23rd. BMO Capital Markets reissued an "outperform" rating on shares of Pembina Pipeline in a research report on Monday, August 11th. Finally, Raymond James Financial reissued an "outperform" rating on shares of Pembina Pipeline in a research report on Monday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Pembina Pipeline has an average rating of "Moderate Buy" and an average target price of $56.00.

Pembina Pipeline Stock Performance

NYSE PBA traded up $0.44 during trading hours on Wednesday, hitting $37.85. The company's stock had a trading volume of 477,408 shares, compared to its average volume of 1,347,307. Pembina Pipeline Corp. has a 12 month low of $34.13 and a 12 month high of $43.44. The company's 50 day simple moving average is $37.01 and its two-hundred day simple moving average is $37.56. The company has a market cap of $21.99 billion, a P/E ratio of 17.77 and a beta of 0.78. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.77 and a quick ratio of 0.62.

Pembina Pipeline Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 7.5%. The ex-dividend date is Monday, September 15th. This is a positive change from Pembina Pipeline's previous quarterly dividend of $0.51. 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.