Larson Financial Group LLC Grows Position in Pembina Pipeline Co. (NYSE:PBA)

Larson Financial Group LLC lifted its position in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 67.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,341 shares of the pipeline company’s stock after purchasing an additional 541 shares during the period. Larson Financial Group LLC’s holdings in Pembina Pipeline were worth $55,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Godsey & Gibb Inc. bought a new stake in shares of Pembina Pipeline during the third quarter valued at approximately $25,000. Prospera Private Wealth LLC purchased a new stake in shares of Pembina Pipeline during the 3rd quarter valued at about $26,000. Blue Trust Inc. raised its position in 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 purchasing an additional 508 shares during the period. CENTRAL TRUST Co lifted its position in Pembina Pipeline by 65.0% in the third quarter. CENTRAL TRUST Co now owns 825 shares of the pipeline company’s stock worth $34,000 after buying an additional 325 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Pembina Pipeline by 30.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,668 shares of the pipeline company’s stock worth $65,000 after acquiring an additional 387 shares during the last quarter. 55.37% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PBA. Citigroup boosted their price objective on Pembina Pipeline from $53.00 to $56.00 and gave the company a “neutral” rating in a report on Wednesday, August 28th. UBS Group initiated coverage on shares of Pembina Pipeline in a report on Wednesday, September 11th. They set a “neutral” rating on the stock. Finally, 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. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Pembina Pipeline currently has a consensus rating of “Hold” and an average target price of $56.50.

Pembina Pipeline Stock Performance

PBA stock opened at $41.44 on Friday. Pembina Pipeline Co. has a one year low of $32.39 and a one year high of $43.44. The firm has a market cap of $24.06 billion, a price-to-earnings ratio of 17.12 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 has a 50-day simple moving average of $42.00 and a two-hundred day simple moving average of $39.47.

Pembina Pipeline Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be given a dividend of $0.69 per share. This is a boost from Pembina Pipeline’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.76 dividend on an annualized basis and a yield of 6.66%. Pembina Pipeline’s dividend payout ratio is presently 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.