State of Wisconsin Investment Board boosted its position in Pembina Pipeline Corp (NYSE:PBA) (TSE:PPL) by 51.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 943,409 shares of the pipeline company’s stock after acquiring an additional 320,824 shares during the quarter. State of Wisconsin Investment Board owned 0.19% of Pembina Pipeline worth $34,267,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the stock. The Manufacturers Life Insurance Company raised its holdings in Pembina Pipeline by 49.1% in the fourth quarter. The Manufacturers Life Insurance Company now owns 5,123,335 shares of the pipeline company’s stock valued at $185,362,000 after acquiring an additional 1,688,207 shares in the last quarter. Forsta AP Fonden purchased a new position in Pembina Pipeline in the fourth quarter valued at approximately $16,976,000. AGF Investments Inc. increased its stake in Pembina Pipeline by 1,074.4% in the fourth quarter. AGF Investments Inc. now owns 219,175 shares of the pipeline company’s stock valued at $7,935,000 after purchasing an additional 200,512 shares during the last quarter. Candriam Luxembourg S.C.A. increased its stake in Pembina Pipeline by 12.4% in the fourth quarter. Candriam Luxembourg S.C.A. now owns 56,059 shares of the pipeline company’s stock valued at $2,036,000 after purchasing an additional 6,185 shares during the last quarter. Finally, Jacobson & Schmitt Advisors LLC increased its stake in Pembina Pipeline by 3.5% in the fourth quarter. Jacobson & Schmitt Advisors LLC now owns 122,846 shares of the pipeline company’s stock valued at $4,445,000 after purchasing an additional 4,196 shares during the last quarter. 48.93% of the stock is currently owned by hedge funds and other institutional investors.
PBA has been the topic of several recent analyst reports. Zacks Investment Research lowered shares of Pembina Pipeline from a “hold” rating to a “sell” rating in a research note on Wednesday, November 29th. Macquarie lowered shares of Pembina Pipeline from an “outperform” rating to a “neutral” rating in a research note on Wednesday, November 29th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $39.00.
The business also recently declared a monthly dividend, which will be paid on Sunday, April 15th. Shareholders of record on Sunday, March 25th will be paid a $0.1389 dividend. The ex-dividend date is Thursday, March 22nd. This represents a $1.67 annualized dividend and a yield of 5.17%. Pembina Pipeline’s dividend payout ratio is currently 114.67%.
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Pembina Pipeline 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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