Pembina Pipeline (NYSE:PBA) Trading 4.8% Higher After Dividend Announcement

Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL)’s share price traded up 4.8% during trading on Friday after the company announced a dividend. The stock traded as high as $38.25 and last traded at $38.10. 272,499 shares changed hands during trading, a decline of 82% from the average session volume of 1,473,579 shares. The stock had previously closed at $36.35.

The newly announced dividend which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be given a dividend of $0.4783 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.91 dividend on an annualized basis and a yield of 4.92%. Pembina Pipeline’s payout ratio is currently 80.58%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Barclays assumed coverage on shares of Pembina Pipeline in a research report on Thursday, December 12th. They issued an “overweight” rating on the stock. TD Securities initiated coverage on shares of Pembina Pipeline in a report on Wednesday, January 15th. They set a “buy” rating for the company. Finally, Wells Fargo & Company cut Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $56.50.

Pembina Pipeline Price Performance

The company has a market cap of $22.56 billion, a P/E ratio of 16.06 and a beta of 1.25. The stock has a 50-day simple moving average of $36.65 and a 200 day simple moving average of $39.37. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.51 and a current ratio of 0.65.

Institutional Investors Weigh In On Pembina Pipeline

A number of hedge funds and other institutional investors have recently bought and sold shares of PBA. Prospera Private Wealth LLC bought a new stake in shares of Pembina Pipeline during the third quarter valued at approximately $26,000. Safe Harbor Fiduciary LLC acquired a new position in Pembina Pipeline during the 3rd quarter worth $26,000. Versant Capital Management Inc bought a new position in Pembina Pipeline in the 4th quarter valued at $27,000. Sound Income Strategies LLC acquired a new stake in shares of Pembina Pipeline in the 4th quarter valued at $27,000. Finally, Dunhill Financial LLC bought a new stake in shares of Pembina Pipeline during the third quarter worth $28,000. 55.37% of the stock is owned by institutional investors and hedge funds.

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.