184,500 Shares in Pembina Pipeline Corp. $PBA Bought by Zimmer Partners LP

Key Points

• Zimmer Partners LP has acquired a new position in Pembina Pipeline Corp., purchasing 184,500 shares valued at approximately $7.38 million.
• Several hedge funds have increased their stakes in Pembina, notably Goldman Sachs which grew its position by 78.1% in the first quarter.
• Pembina recently announced a dividend increase to $0.71 per share, reflecting a 7.5% yield, up from the previous quarterly dividend of $0.51.

Zimmer Partners LP bought a new stake in shares of Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 184,500 shares of the pipeline company's stock, valued at approximately $7,381,000.

Other large investors also recently added to or reduced their stakes in the company. Cetera Investment Advisers lifted its position in Pembina Pipeline by 6.2% during the 1st quarter. Cetera Investment Advisers now owns 48,289 shares of the pipeline company's stock valued at $1,933,000 after purchasing an additional 2,834 shares during the period. Westwood Holdings Group Inc. lifted its position in Pembina Pipeline by 25.2% during the 1st quarter. Westwood Holdings Group Inc. now owns 1,428,833 shares of the pipeline company's stock valued at $57,196,000 after purchasing an additional 288,003 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in Pembina Pipeline by 11.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 18,182 shares of the pipeline company's stock valued at $728,000 after purchasing an additional 1,824 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Pembina Pipeline by 1.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,571,245 shares of the pipeline company's stock valued at $62,839,000 after purchasing an additional 25,265 shares during the period. Finally, Catalyst Capital Advisors LLC lifted its position in Pembina Pipeline by 18.0% during the 1st quarter. Catalyst Capital Advisors LLC now owns 445,057 shares of the pipeline company's stock valued at $17,816,000 after purchasing an additional 67,797 shares during the period. 55.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PBA has been the topic of a number of research reports. Wells Fargo & Company downgraded shares of Pembina Pipeline from a "hold" rating to a "strong sell" rating in a research report on Wednesday, August 6th. Wall Street Zen downgraded shares of Pembina Pipeline from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. National Bank Financial upgraded shares of Pembina Pipeline from a "hold" rating to a "strong-buy" rating in a report on Wednesday, June 25th. Jefferies Financial Group downgraded shares of Pembina Pipeline from a "buy" rating to a "hold" rating in a report on Wednesday, July 23rd. Finally, Raymond James Financial reiterated an "outperform" rating on shares of Pembina Pipeline in a report on Monday, August 11th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy".

Pembina Pipeline Stock Up 0.6%

Shares of NYSE:PBA traded up $0.22 during midday trading on Friday, reaching $39.24. The company had a trading volume of 1,310,669 shares, compared to its average volume of 1,341,546. 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 business's 50 day moving average price is $37.20 and its 200 day moving average price is $37.68. The stock has a market cap of $22.79 billion, a PE ratio of 18.42 and a beta of 0.79. Pembina Pipeline Corp. has a 1-year low of $34.13 and a 1-year high of $43.44.

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 issued a dividend of $0.71 per share. The ex-dividend date is Monday, September 15th. This is a positive change from Pembina Pipeline's previous quarterly dividend of $0.51. This represents a $2.84 dividend on an annualized basis and a yield of 7.2%. Pembina Pipeline's dividend payout ratio is presently 95.77%.

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.