Pembina Pipeline Co. (NYSE:PBA) Shares Bought by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. raised its position in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 1.8% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 18,675 shares of the pipeline company’s stock after acquiring an additional 334 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Pembina Pipeline were worth $770,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Cumberland Partners Ltd boosted its holdings in Pembina Pipeline by 1.6% in the 3rd quarter. Cumberland Partners Ltd now owns 95,847 shares of the pipeline company’s stock worth $3,955,000 after buying an additional 1,464 shares during the last quarter. Entropy Technologies LP acquired a new position in shares of Pembina Pipeline during the 3rd quarter worth approximately $961,000. Fiera Capital Corp boosted its holdings in shares of Pembina Pipeline by 15.5% during the 3rd quarter. Fiera Capital Corp now owns 1,196,390 shares of the pipeline company’s stock worth $49,381,000 after purchasing an additional 160,946 shares during the last quarter. Gold Investment Management Ltd. boosted its holdings in shares of Pembina Pipeline by 4.2% during the 3rd quarter. Gold Investment Management Ltd. now owns 11,001 shares of the pipeline company’s stock worth $453,000 after purchasing an additional 439 shares during the last quarter. Finally, Heronetta Management L.P. boosted its holdings in shares of Pembina Pipeline by 2.1% during the 3rd quarter. Heronetta Management L.P. now owns 195,698 shares of the pipeline company’s stock worth $8,071,000 after purchasing an additional 4,000 shares during the last quarter. 55.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PBA. Raymond James began coverage on Pembina Pipeline in a report on Friday, October 11th. They set an “outperform” rating on the stock. UBS Group began coverage on Pembina Pipeline in a report on Wednesday, September 11th. They set a “neutral” rating on the stock. Finally, Citigroup boosted their target price on Pembina Pipeline from $53.00 to $56.00 and gave the stock 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 company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $56.50.

Pembina Pipeline Stock Up 0.4 %

PBA stock opened at $41.82 on Tuesday. The firm has a market cap of $24.27 billion, a PE ratio of 17.28 and a beta of 1.25. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.51 and a current ratio of 0.65. The firm’s 50 day moving average price is $41.76 and its 200-day moving average price is $39.16. Pembina Pipeline Co. has a one year low of $32.10 and a one year high of $43.44.

Pembina Pipeline Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 6.60%. The ex-dividend date is Monday, December 16th. This is a positive change from Pembina Pipeline’s previous quarterly dividend of $0.50. Pembina Pipeline’s 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.