Pembina Pipeline Co. (NYSE:PBA) Shares Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lifted its position in shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 71.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 3,163,711 shares of the pipeline company’s stock after buying an additional 1,319,709 shares during the period. The Manufacturers Life Insurance Company owned 0.55% of Pembina Pipeline worth $130,501,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Godsey & Gibb Inc. purchased a new position in shares of Pembina Pipeline during the third quarter valued at approximately $25,000. Prospera Private Wealth LLC purchased a new position in shares of Pembina Pipeline during the third quarter valued at approximately $26,000. Blue Trust Inc. lifted its stake in shares of Pembina Pipeline by 223.8% during the third quarter. Blue Trust Inc. now owns 735 shares of the pipeline company’s stock valued at $30,000 after buying an additional 508 shares during the period. CENTRAL TRUST Co raised its stake in Pembina Pipeline by 65.0% during the third quarter. CENTRAL TRUST Co now owns 825 shares of the pipeline company’s stock worth $34,000 after purchasing an additional 325 shares during the period. Finally, Beacon Capital Management LLC purchased a new position in Pembina Pipeline during the first quarter worth approximately $37,000. Hedge funds and other institutional investors own 55.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on PBA shares. Citigroup increased their price target on shares of Pembina Pipeline from $53.00 to $56.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 28th. Raymond James started coverage on shares of Pembina Pipeline in a research note on Friday, October 11th. They set an “outperform” rating on the stock. Finally, UBS Group started coverage on shares of Pembina Pipeline in a research note on Wednesday, September 11th. They set a “neutral” rating on the stock. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $56.50.

Pembina Pipeline Price Performance

Pembina Pipeline stock opened at $41.22 on Wednesday. Pembina Pipeline Co. has a 52-week low of $32.39 and a 52-week high of $43.44. The firm has a fifty day moving average of $41.95 and a 200-day moving average of $39.42. The firm has a market capitalization of $23.93 billion, a P/E ratio of 17.03 and a beta of 1.25. The company has a quick ratio of 0.51, a current ratio of 0.65 and a debt-to-equity ratio of 0.79.

Pembina Pipeline Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given a $0.69 dividend. The ex-dividend date is Monday, December 16th. This represents a $2.76 annualized dividend and a dividend yield of 6.70%. This is a positive change from Pembina Pipeline’s previous quarterly dividend of $0.50. Pembina Pipeline’s dividend payout ratio is presently 84.30%.

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.