Vident Advisory LLC Acquires 17,200 Shares of Pembina Pipeline Corp. $PBA

Key Points

• Vident Advisory LLC increased its stake in Pembina Pipeline Corp. by 9.4%, acquiring an additional 17,200 shares and bringing its total holdings to 199,672 shares valued at approximately $7.99 million.
• Pembina Pipeline recently declared a quarterly dividend increase from $0.51 to $0.71 per share, representing an annualized yield of 7.5%.
• Analysts have a consensus rating of “Moderate Buy” for Pembina Pipeline, with one analyst giving a Strong Buy rating and several others offering Buy and Hold ratings.

Vident Advisory LLC lifted its holdings in shares of Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL by 9.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 199,672 shares of the pipeline company's stock after buying an additional 17,200 shares during the quarter. Vident Advisory LLC's holdings in Pembina Pipeline were worth $7,986,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of PBA. Northern Trust Corp lifted its stake in shares of Pembina Pipeline by 46.5% during the 4th quarter. Northern Trust Corp now owns 425,745 shares of the pipeline company's stock valued at $15,731,000 after buying an additional 135,177 shares in the last quarter. BLI Banque de Luxembourg Investments purchased a new stake in shares of Pembina Pipeline during the 4th quarter valued at approximately $2,150,000. Cetera Investment Advisers lifted its stake in Pembina Pipeline by 3.5% in the 4th quarter. Cetera Investment Advisers now owns 45,455 shares of the pipeline company's stock worth $1,680,000 after purchasing an additional 1,536 shares in the last quarter. Crestline Management LP lifted its stake in Pembina Pipeline by 36.5% in the 4th quarter. Crestline Management LP now owns 49,949 shares of the pipeline company's stock worth $1,846,000 after purchasing an additional 13,347 shares in the last quarter. Finally, Cresset Asset Management LLC lifted its stake in Pembina Pipeline by 45.7% in the 4th quarter. Cresset Asset Management LLC now owns 13,644 shares of the pipeline company's stock worth $504,000 after purchasing an additional 4,278 shares in the last quarter. 55.37% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. National Bankshares upgraded shares of Pembina Pipeline from a "sector perform" rating to an "outperform" rating in a research note on Thursday, June 26th. Wall Street Zen cut shares of Pembina Pipeline from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Wells Fargo & Company cut shares of Pembina Pipeline from a "hold" rating to a "strong sell" rating in a research note on Wednesday, August 6th. Raymond James Financial reissued an "outperform" rating on shares of Pembina Pipeline in a report on Monday, August 11th. Finally, Jefferies Financial Group lowered shares of Pembina Pipeline from a "buy" rating to a "hold" rating in a report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy".

Pembina Pipeline Stock Up 0.3%

NYSE PBA traded up $0.10 during trading hours on Thursday, reaching $37.79. 244,003 shares of the company's stock traded hands, compared to its average volume of 1,340,036. Pembina Pipeline Corp. has a 52-week low of $34.13 and a 52-week high of $43.44. The firm has a market cap of $21.95 billion, a PE ratio of 17.74 and a beta of 0.79. The firm has a 50-day simple moving average of $37.09 and a 200 day simple moving average of $37.60. 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 Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be paid a dividend of $0.71 per share. The ex-dividend date is Monday, September 15th. This represents a $2.84 dividend on an annualized basis and a yield of 7.5%. This is an increase from Pembina Pipeline's previous quarterly dividend of $0.51. Pembina Pipeline's dividend payout ratio (DPR) is 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.