Pembina Pipeline Corp. $PBA Holdings Lifted by The Manufacturers Life Insurance Company

Key Points

• The Manufacturers Life Insurance Company significantly increased its stake in Pembina Pipeline Corp. by 136.7%, owning 3,995,460 shares valued at approximately $160.68 million.
• Institutional investors currently own 55.37% of Pembina Pipeline's stock, indicating strong market confidence and support for the company.
• Pembina Pipeline recently increased its quarterly dividend to $0.71 per share, reflecting a 7.5% yield, up from the previous $0.51.

The Manufacturers Life Insurance Company raised its stake in Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL by 136.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,995,460 shares of the pipeline company's stock after purchasing an additional 2,307,634 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.69% of Pembina Pipeline worth $160,681,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. First Horizon Advisors Inc. boosted its holdings 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 boosted its holdings 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 holdings in shares of Pembina Pipeline by 53.4% during the 1st quarter. Larson Financial Group LLC now owns 1,341 shares of the pipeline company's stock valued at $54,000 after acquiring an additional 467 shares in the last quarter. Finally, Versant Capital Management Inc lifted its holdings in shares of Pembina Pipeline by 108.3% during the 1st quarter. Versant Capital Management Inc now owns 1,525 shares of the pipeline company's stock valued at $61,000 after acquiring an additional 793 shares in the last quarter. Institutional investors and hedge funds own 55.37% of the company's stock.

Pembina Pipeline Stock Performance

Shares of NYSE:PBA traded up $0.10 during trading on Thursday, reaching $37.79. 244,003 shares of the company's stock traded hands, compared to its average volume of 1,340,036. 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 Corp. has a 12 month low of $34.13 and a 12 month high of $43.44. The company has a 50 day moving average of $37.09 and a 200-day moving average of $37.60. The stock has a market capitalization of $21.95 billion, a P/E ratio of 17.74 and a beta of 0.79.

Pembina Pipeline Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be given a $0.71 dividend. This is a positive change from Pembina Pipeline's previous quarterly dividend of $0.51. The ex-dividend date is Monday, September 15th. This represents a $2.84 annualized dividend and a yield of 7.5%. Pembina Pipeline's payout ratio is currently 97.18%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on PBA shares. Jefferies Financial Group lowered shares of Pembina Pipeline from a "buy" rating to a "hold" rating in a report on Wednesday, July 23rd. Barclays reaffirmed an "overweight" rating on shares of Pembina Pipeline in a research note on Tuesday, June 3rd. National Bankshares raised shares of Pembina Pipeline from a "sector perform" rating to an "outperform" rating in a research note on Thursday, June 26th. National Bank Financial raised shares of Pembina Pipeline from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, June 25th. Finally, Raymond James Financial reaffirmed an "outperform" rating on shares of Pembina Pipeline in a research note on Monday, August 11th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Pembina Pipeline presently has an average rating of "Moderate Buy".

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.