Public Sector Pension Investment Board Trims Position in Pembina Pipeline Corp. $PBA

Key Points

• The Public Sector Pension Investment Board reduced its stake in Pembina Pipeline Corp. by 62.7%, selling 94,308 shares and now holding 56,004 shares valued at approximately $2.24 million.
• Other institutional investors have also made significant changes, with British Columbia Investment Management increasing its stake by 1,591.4% and Nuveen LLC purchasing new shares valued at about $83.7 million.
• Pembina Pipeline announced a quarterly dividend increase to $0.71 per share, yielding 7.6%, reflecting a rise from the previous dividend of $0.51.

Public Sector Pension Investment Board cut its holdings in shares of Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL by 62.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 56,004 shares of the pipeline company's stock after selling 94,308 shares during the period. Public Sector Pension Investment Board's holdings in Pembina Pipeline were worth $2,240,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in PBA. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of 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 buying an additional 2,968,994 shares during the period. Nuveen LLC purchased a new position in shares of Pembina Pipeline during the first quarter valued at approximately $83,743,000. Mackenzie Financial Corp increased its stake in shares of Pembina Pipeline by 10.6% during the fourth quarter. Mackenzie Financial Corp now owns 13,930,847 shares of the pipeline company's stock valued at $514,154,000 after buying an additional 1,331,294 shares during the period. Invesco Ltd. increased its stake in shares of Pembina Pipeline by 55.2% during the first quarter. Invesco Ltd. now owns 2,522,129 shares of the pipeline company's stock valued at $100,961,000 after buying an additional 897,386 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Pembina Pipeline by 21.4% during the fourth 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 buying an additional 460,646 shares during the period. 55.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. BMO Capital Markets restated an "outperform" rating on shares of Pembina Pipeline in a research report on Monday, August 11th. Barclays restated an "overweight" rating on shares of Pembina Pipeline in a research report on Tuesday, June 3rd. Wall Street Zen lowered Pembina Pipeline from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. National Bankshares upgraded Pembina Pipeline from a "sector perform" rating to an "outperform" rating in a research report on Thursday, June 26th. Finally, Jefferies Financial Group lowered Pembina Pipeline from a "buy" rating to a "hold" rating in a research report on Wednesday, July 23rd. One investment 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.com, the stock has an average rating of "Moderate Buy" and an average target price of $56.00.

Pembina Pipeline Trading Up 1.8%

Pembina Pipeline stock opened at $37.5870 on Thursday. The company has a current ratio of 0.77, a quick ratio of 0.62 and a debt-to-equity ratio of 0.81. The business's fifty day simple moving average is $37.03 and its two-hundred day simple moving average is $37.51. Pembina Pipeline Corp. has a 12 month low of $34.13 and a 12 month high of $43.44. The company has a market capitalization of $21.84 billion, a price-to-earnings ratio of 17.65 and a beta of 0.78.

Pembina Pipeline Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 15th will be issued a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, September 15th. This is an increase from Pembina Pipeline's previous quarterly dividend of $0.51. This represents a $2.84 dividend on an annualized basis and a dividend yield of 7.6%. Pembina Pipeline's dividend payout ratio is currently 95.77%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.