US Bancorp DE Grows Holdings in Pembina Pipeline Co. (NYSE:PBA)

US Bancorp DE raised its position in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 22.0% in the third quarter, Holdings Channel reports. The institutional investor owned 11,161 shares of the pipeline company’s stock after purchasing an additional 2,014 shares during the period. US Bancorp DE’s holdings in Pembina Pipeline were worth $460,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Toronto Dominion Bank increased its stake in shares of Pembina Pipeline by 97.2% during the second quarter. Toronto Dominion Bank now owns 8,938,488 shares of the pipeline company’s stock worth $331,439,000 after purchasing an additional 4,405,792 shares in the last quarter. Canada Pension Plan Investment Board grew its stake in Pembina Pipeline by 56.9% during the 2nd quarter. Canada Pension Plan Investment Board now owns 8,387,525 shares of the pipeline company’s stock valued at $311,142,000 after acquiring an additional 3,043,200 shares in the last quarter. ClearBridge Investments Ltd grew its stake in Pembina Pipeline by 12.3% during the 1st quarter. ClearBridge Investments Ltd now owns 7,173,059 shares of the pipeline company’s stock valued at $253,496,000 after acquiring an additional 784,814 shares in the last quarter. 1832 Asset Management L.P. grew its stake in Pembina Pipeline by 93.7% during the 1st quarter. 1832 Asset Management L.P. now owns 1,374,359 shares of the pipeline company’s stock valued at $48,570,000 after acquiring an additional 664,843 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its stake in Pembina Pipeline by 171.1% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,030,000 shares of the pipeline company’s stock valued at $36,369,000 after acquiring an additional 650,000 shares in the last quarter. Hedge funds and other institutional investors own 55.37% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on PBA shares. Raymond James assumed coverage on shares of Pembina Pipeline in a research note on Friday, October 11th. They set an “outperform” rating for the company. UBS Group assumed coverage on shares of Pembina Pipeline in a report on Wednesday, September 11th. They issued a “neutral” rating on the stock. Finally, Citigroup boosted their target price on shares of Pembina Pipeline from $53.00 to $56.00 and gave the company a “neutral” rating in a report on Wednesday, August 28th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Pembina Pipeline has a consensus rating of “Hold” and a consensus target price of $56.50.

Pembina Pipeline Stock Performance

Shares of PBA stock opened at $41.40 on Tuesday. The firm’s 50 day moving average price is $41.63 and its 200-day moving average price is $38.90. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.55 and a current ratio of 0.65. Pembina Pipeline Co. has a one year low of $31.51 and a one year high of $43.44. The firm has a market cap of $24.03 billion, a P/E ratio of 16.93 and a beta of 1.25.

Pembina Pipeline Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be issued a $0.69 dividend. This is a positive change from Pembina Pipeline’s previous quarterly dividend of $0.50. This represents a $2.76 annualized dividend and a dividend yield of 6.67%. The ex-dividend date of this dividend is Monday, December 16th. Pembina Pipeline’s dividend payout ratio is currently 84.30%.

About Pembina Pipeline

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.