Bank of America Corp DE boosted its position in Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 115.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 298,353 shares of the pipeline company’s stock after buying an additional 159,573 shares during the period. Bank of America Corp DE owned about 0.07% of Pembina Pipeline Corp. worth $9,461,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently bought and sold shares of PBA. Jarislowsky Fraser Ltd increased its stake in Pembina Pipeline Corp. by 9.7% in the first quarter. Jarislowsky Fraser Ltd now owns 11,163,285 shares of the pipeline company’s stock worth $352,732,000 after buying an additional 991,408 shares in the last quarter. Kayne Anderson Capital Advisors LP purchased a new stake in Pembina Pipeline Corp. during the first quarter worth approximately $18,384,000. Vanguard Group Inc. increased its stake in Pembina Pipeline Corp. by 5.3% in the first quarter. Vanguard Group Inc. now owns 9,479,317 shares of the pipeline company’s stock worth $300,589,000 after buying an additional 474,863 shares in the last quarter. Addenda Capital Inc. increased its stake in Pembina Pipeline Corp. by 479.4% in the first quarter. Addenda Capital Inc. now owns 413,994 shares of the pipeline company’s stock worth $13,133,000 after buying an additional 342,540 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in Pembina Pipeline Corp. by 146.1% in the first quarter. Renaissance Technologies LLC now owns 440,706 shares of the pipeline company’s stock worth $13,977,000 after buying an additional 261,600 shares in the last quarter. 46.57% of the stock is currently owned by institutional investors.
Pembina Pipeline Corp. (PBA) traded down 0.38% during mid-day trading on Tuesday, hitting $33.97. The stock had a trading volume of 164,669 shares. Pembina Pipeline Corp. has a 52 week low of $27.44 and a 52 week high of $34.97. The company has a market capitalization of $13.62 billion, a P/E ratio of 33.67 and a beta of 0.71. The stock’s 50-day moving average is $33.36 and its 200 day moving average is $32.38.
The business also recently disclosed a dividend, which will be paid on Monday, August 14th. Stockholders of record on Tuesday, July 25th will be issued a $0.131 dividend. This is a boost from Pembina Pipeline Corp.’s previous dividend of $0.12. The ex-dividend date of this dividend is Friday, July 21st. Pembina Pipeline Corp.’s dividend payout ratio (DPR) is presently 161.86%.
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A number of brokerages have recently issued reports on PBA. Zacks Investment Research raised Pembina Pipeline Corp. from a “hold” rating to a “buy” rating and set a $39.00 target price on the stock in a research report on Friday, July 21st. BidaskClub raised Pembina Pipeline Corp. from a “hold” rating to a “buy” rating in a research report on Tuesday, July 25th. Finally, AltaCorp Capital raised Pembina Pipeline Corp. from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, July 19th. Eleven analysts have rated the stock with a buy rating, The company currently has an average rating of “Buy” and a consensus price target of $43.50.
Pembina Pipeline Corp. Company Profile
Pembina Pipeline Corporation is an energy transportation and service provider. The Company operates through four segments. The Conventional Pipelines segment consists of the tariff-based operations of pipelines and related facilities to deliver crude oil, condensate and natural gas liquids (NGL) in Alberta, British Columbia, Saskatchewan, and North Dakota, United States.
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