Pembina Pipeline Corp. $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. boosted its position in shares of Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL by 5.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 943,444 shares of the pipeline company's stock after purchasing an additional 44,910 shares during the period. Russell Investments Group Ltd. owned about 0.16% of Pembina Pipeline worth $37,719,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Eagle Global Advisors LLC boosted its position in Pembina Pipeline by 8.3% in the first quarter. Eagle Global Advisors LLC now owns 111,550 shares of the pipeline company's stock valued at $4,465,000 after buying an additional 8,570 shares during the last quarter. Nuveen LLC acquired a new position in shares of Pembina Pipeline in the 1st quarter valued at $83,743,000. Virtu Financial LLC acquired a new position in shares of Pembina Pipeline during the 1st quarter worth about $236,000. Invesco Ltd. lifted its holdings in Pembina Pipeline by 55.2% in the 1st quarter. Invesco Ltd. now owns 2,522,129 shares of the pipeline company's stock valued at $100,961,000 after purchasing an additional 897,386 shares in the last quarter. Finally, PCJ Investment Counsel Ltd. grew its position in shares of Pembina Pipeline by 12.9% in the first quarter. PCJ Investment Counsel Ltd. now owns 53,800 shares of the pipeline company's stock valued at $2,152,000 after purchasing an additional 6,130 shares in the last quarter. Hedge funds and other institutional investors own 55.37% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on PBA shares. Raymond James Financial reissued an "outperform" rating on shares of Pembina Pipeline in a research note on Monday, August 11th. Barclays reaffirmed an "overweight" rating on shares of Pembina Pipeline in a research note on Tuesday, June 3rd. National Bank Financial upgraded shares of Pembina Pipeline from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, June 25th. BMO Capital Markets restated an "outperform" rating on shares of Pembina Pipeline in a research note on Monday, August 11th. Finally, Wells Fargo & Company downgraded Pembina Pipeline from a "hold" rating to a "strong sell" rating in a report on Wednesday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $56.00.

Pembina Pipeline Stock Performance

Shares of NYSE PBA traded up $0.1450 during mid-day trading on Tuesday, hitting $36.8050. 239,261 shares of the company were exchanged, compared to its average volume of 1,309,171. 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 firm has a market cap of $21.38 billion, a price-to-earnings ratio of 17.26 and a beta of 0.78. Pembina Pipeline Corp. has a 1-year low of $34.13 and a 1-year high of $43.44. The stock has a 50 day simple moving average of $37.04 and a 200-day simple moving average of $37.52.

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 given a $0.71 dividend. This is an increase from Pembina Pipeline's previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Monday, September 15th. This represents a $2.84 annualized dividend and a dividend yield of 7.7%. Pembina Pipeline's dividend payout ratio is 97.18%.

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.