Wellington Management Group LLP Grows Position in Pembina Pipeline Corp. $PBA

Key Points

• Wellington Management Group LLP increased its stake in Pembina Pipeline Corp. by 46.9%, acquiring an additional 370,164 shares, bringing its total holdings to approximately 1.16 million shares valued at $46.39 million.
• Pembina Pipeline announced a quarterly dividend of $0.71, an increase from the previous dividend of $0.51, resulting in an annual yield of 7.5% and a payout ratio of 97.18%.
• Several analysts have rated Pembina Pipeline with a consensus of "Moderate Buy" and an average target price of $56.00, indicating positive sentiment in the market.

Wellington Management Group LLP increased its stake in Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL by 46.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,159,854 shares of the pipeline company's stock after purchasing an additional 370,164 shares during the quarter. Wellington Management Group LLP owned 0.20% of Pembina Pipeline worth $46,390,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. boosted its holdings in Pembina Pipeline by 69.9% in the first quarter. First Horizon Advisors Inc. now owns 673 shares of the pipeline company's stock worth $27,000 after purchasing an additional 277 shares during the last quarter. N.E.W. Advisory Services LLC bought a new stake in shares of Pembina Pipeline during the 1st quarter valued at $27,000. Larson Financial Group LLC raised its position 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 purchasing an additional 467 shares during the period. Dunhill Financial LLC raised its position in shares of Pembina Pipeline by 100.0% during 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 period. Finally, Versant Capital Management Inc increased its holdings in 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 acquiring an additional 793 shares during the last quarter. Hedge funds and other institutional investors own 55.37% of the company's stock.

Pembina Pipeline Stock Up 0.7%

Shares of NYSE:PBA traded up $0.27 during trading hours on Wednesday, hitting $37.68. The company's stock had a trading volume of 1,520,788 shares, compared to its average volume of 1,354,206. Pembina Pipeline Corp. has a 52 week low of $34.13 and a 52 week high of $43.44. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.77 and a quick ratio of 0.62. The company has a market capitalization of $21.89 billion, a price-to-earnings ratio of 17.69 and a beta of 0.78. The firm's fifty day moving average price is $37.01 and its 200 day moving average price is $37.56.

Pembina Pipeline Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 15th will be issued a $0.71 dividend. The ex-dividend date is Monday, September 15th. This represents a $2.84 annualized dividend and a dividend 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 presently 95.77%.

Analysts Set New Price Targets

PBA has been the topic of a number of research reports. BMO Capital Markets reiterated an "outperform" rating on shares of Pembina Pipeline in a report on Monday, August 11th. Raymond James Financial reiterated an "outperform" rating on shares of Pembina Pipeline in a report on Monday, August 11th. Jefferies Financial Group downgraded shares of Pembina Pipeline from a "buy" rating to a "hold" rating in a report on Wednesday, July 23rd. National Bank Financial upgraded shares of Pembina Pipeline from a "hold" rating to a "strong-buy" rating in a report on Wednesday, June 25th. Finally, National Bankshares raised shares of Pembina Pipeline from a "sector perform" rating to an "outperform" rating in a research note on Thursday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, six have issued 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 company has a consensus rating of "Moderate Buy" and an average price target of $56.00.

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.