Public Sector Pension Investment Board Sells 94,308 Shares of 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 lessened its stake in shares of Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL by 62.7% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor 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 filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. First Horizon Advisors Inc. grew its position in Pembina Pipeline by 69.9% during the first quarter. First Horizon Advisors Inc. now owns 673 shares of the pipeline company's stock worth $27,000 after buying an additional 277 shares in the last quarter. JCIC Asset Management Inc. grew its position in Pembina Pipeline by 6.8% during the first quarter. JCIC Asset Management Inc. now owns 5,133 shares of the pipeline company's stock worth $205,000 after buying an additional 325 shares in the last quarter. Hexagon Capital Partners LLC grew its position in Pembina Pipeline by 17.0% during the first quarter. Hexagon Capital Partners LLC now owns 2,397 shares of the pipeline company's stock worth $96,000 after buying an additional 349 shares in the last quarter. Albert D Mason Inc. grew its position in Pembina Pipeline by 1.0% during the first quarter. Albert D Mason Inc. now owns 43,073 shares of the pipeline company's stock worth $1,724,000 after buying an additional 426 shares in the last quarter. Finally, NewEdge Advisors LLC grew its position in Pembina Pipeline by 4.5% during the fourth quarter. NewEdge Advisors LLC now owns 9,883 shares of the pipeline company's stock worth $365,000 after buying an additional 430 shares in the last quarter. Institutional investors own 55.37% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. National Bank Financial raised Pembina Pipeline from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, June 25th. Wall Street Zen cut Pembina Pipeline from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Barclays restated an "overweight" rating on shares of Pembina Pipeline in a research note on Tuesday, June 3rd. Raymond James Financial restated an "outperform" rating on shares of Pembina Pipeline in a research note on Monday, August 11th. Finally, BMO Capital Markets restated an "outperform" rating on shares of Pembina Pipeline in a research note on Monday, August 11th. One 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 assigned a Sell rating to the stock. Based on data from MarketBeat, Pembina Pipeline has a consensus rating of "Moderate Buy" and an average target price of $56.00.

Pembina Pipeline Price Performance

Shares of PBA traded down $0.35 during trading hours on Tuesday, reaching $37.47. The stock had a trading volume of 3,722,023 shares, compared to its average volume of 1,277,570. Pembina Pipeline Corp. has a 12 month low of $34.13 and a 12 month high of $43.44. The stock has a market capitalization of $21.76 billion, a PE ratio of 17.59 and a beta of 0.78. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.62 and a current ratio of 0.77. The company's 50-day moving average is $37.01 and its two-hundred day moving average is $37.56.

Pembina Pipeline Increases Dividend

The firm also recently disclosed 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 7.6%. This is a positive change from Pembina Pipeline's previous quarterly dividend of $0.51. Pembina Pipeline's dividend payout ratio (DPR) is presently 97.18%.

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.