Pembina Pipeline Corp. (NYSE:PBA) Shares Bought by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. increased its stake in Pembina Pipeline Corp. by 5.0% during the first quarter, now holding 943,444 shares valued at approximately $37.7 million.
• Pembina Pipeline has announced a quarterly dividend of $0.71 per share, representing a boost from the previous dividend of $0.51, with a current dividend yield of 7.7%.
• Recent analyst ratings for Pembina Pipeline show a mixed outlook, with an average rating of "Moderate Buy" and a price target of $56.00, despite two analysts issuing sell ratings.

Russell Investments Group Ltd. raised its stake in Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL by 5.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 943,444 shares of the pipeline company's stock after buying an additional 44,910 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.16% of Pembina Pipeline worth $37,719,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in PBA. First Horizon Advisors Inc. lifted its stake 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 purchasing an additional 277 shares during the last quarter. N.E.W. Advisory Services LLC acquired a new position in shares of Pembina Pipeline in the 1st quarter valued at $27,000. Dunhill Financial LLC lifted its stake 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 valued at $50,000 after purchasing an additional 675 shares during the last quarter. Larson Financial Group LLC lifted its stake 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 purchasing an additional 467 shares during the last quarter. Finally, Versant Capital Management Inc lifted its stake 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 purchasing an additional 793 shares during the last quarter. 55.37% of the stock is currently owned by hedge funds and other institutional investors.

Pembina Pipeline Trading Down 0.0%

PBA traded down $0.01 during mid-day trading on Friday, hitting $36.69. 865,085 shares of the stock were exchanged, compared to its average volume of 1,017,709. The firm's fifty day moving average is $37.05 and its two-hundred day moving average is $37.51. Pembina Pipeline Corp. has a 1-year low of $34.13 and a 1-year 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. The company has a market cap of $21.31 billion, a PE ratio of 17.23 and a beta of 0.78.

Pembina Pipeline Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 7.7%. 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. Pembina Pipeline's dividend payout ratio is currently 97.18%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Raymond James Financial reaffirmed an "outperform" rating on shares of Pembina Pipeline in a research note on Monday, August 11th. Wall Street Zen lowered Pembina Pipeline from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Barclays reaffirmed an "overweight" rating on shares of Pembina Pipeline in a research note on Tuesday, June 3rd. National Bankshares raised Pembina Pipeline from a "sector perform" rating to an "outperform" rating in a research note on Thursday, June 26th. Finally, National Bank Financial raised Pembina Pipeline from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, June 25th. Two research analysts have rated the stock with a sell rating, two have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $56.00.

About Pembina Pipeline

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.