Wellington Management Group LLP Has $46.39 Million Stock 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 raised its holdings in shares of Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL by 46.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,159,854 shares of the pipeline company's stock after buying an additional 370,164 shares during the period. Wellington Management Group LLP owned about 0.20% of Pembina Pipeline worth $46,390,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PBA. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in Pembina Pipeline by 1,591.4% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 3,155,558 shares of the pipeline company's stock valued at $116,440,000 after buying an additional 2,968,994 shares in the last quarter. Nuveen LLC acquired a new position in Pembina Pipeline during the first quarter valued at approximately $83,743,000. Mackenzie Financial Corp lifted its position in Pembina Pipeline by 10.6% during the fourth quarter. Mackenzie Financial Corp now owns 13,930,847 shares of the pipeline company's stock valued at $514,154,000 after buying an additional 1,331,294 shares in the last quarter. Invesco Ltd. lifted its position in Pembina Pipeline by 55.2% during the first quarter. Invesco Ltd. now owns 2,522,129 shares of the pipeline company's stock valued at $100,961,000 after buying an additional 897,386 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Pembina Pipeline by 21.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,616,105 shares of the pipeline company's stock worth $96,665,000 after purchasing an additional 460,646 shares in the last quarter. 55.37% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PBA. BMO Capital Markets restated an "outperform" rating on shares of Pembina Pipeline in a research note on Monday, August 11th. Raymond James Financial reissued an "outperform" rating on shares of Pembina Pipeline in a report on Monday, August 11th. Wells Fargo & Company cut shares of Pembina Pipeline from a "hold" rating to a "strong sell" rating in a report on Wednesday, August 6th. National Bankshares raised shares of Pembina Pipeline from a "sector perform" rating to an "outperform" rating in a report on Thursday, June 26th. Finally, National Bank Financial raised shares of Pembina Pipeline from a "hold" rating to a "strong-buy" rating in a report on Wednesday, June 25th. One investment 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 assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy".

Pembina Pipeline Price Performance

Shares of PBA traded up $0.22 during mid-day trading on Friday, hitting $37.75. The company's stock had a trading volume of 979,187 shares, compared to its average volume of 1,477,141. The firm has a 50-day moving average price of $37.04 and a 200 day moving average price of $37.58. The stock has a market capitalization of $21.93 billion, a price-to-earnings ratio of 17.72 and a beta of 0.78. 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 fifty-two week low of $34.13 and a fifty-two week high of $43.44.

Pembina Pipeline Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 15th will be paid a $0.71 dividend. The ex-dividend date of this dividend 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 is presently 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.