Oppenheimer & Co. Inc. Invests $284,000 in Pembina Pipeline Co. (NYSE:PBA)

Oppenheimer & Co. Inc. purchased a new stake in shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) in the third quarter, Holdings Channel reports. The firm purchased 6,896 shares of the pipeline company’s stock, valued at approximately $284,000.

Other institutional investors have also added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. boosted its holdings in shares of Pembina Pipeline by 1.8% during the third quarter. Oppenheimer Asset Management Inc. now owns 18,675 shares of the pipeline company’s stock worth $770,000 after purchasing an additional 334 shares during the period. Cumberland Partners Ltd lifted 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 period. Entropy Technologies LP bought a new stake in shares of Pembina Pipeline in the 3rd quarter worth approximately $961,000. Fiera Capital Corp increased its stake in shares of Pembina Pipeline by 15.5% during the third quarter. Fiera Capital Corp now owns 1,196,390 shares of the pipeline company’s stock valued at $49,381,000 after buying an additional 160,946 shares during the period. Finally, Gold Investment Management Ltd. raised its holdings in shares of Pembina Pipeline by 4.2% during the third quarter. Gold Investment Management Ltd. now owns 11,001 shares of the pipeline company’s stock valued at $453,000 after acquiring an additional 439 shares in the last quarter. Hedge funds and other institutional investors own 55.37% of the company’s stock.

Pembina Pipeline Trading Down 0.6 %

Shares of NYSE PBA opened at $42.93 on Friday. Pembina Pipeline Co. has a 1 year low of $32.39 and a 1 year high of $43.44. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.65 and a quick ratio of 0.51. The firm has a 50-day moving average of $41.92 and a 200 day moving average of $39.31. The stock has a market cap of $24.92 billion, a P/E ratio of 17.74 and a beta of 1.25.

Pembina Pipeline Increases Dividend

The business 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 $0.69 dividend. This is a boost from Pembina Pipeline’s previous quarterly dividend of $0.50. This represents a $2.76 dividend on an annualized basis and a dividend yield of 6.43%. The ex-dividend date is Monday, December 16th. Pembina Pipeline’s payout ratio is currently 84.30%.

Analyst Upgrades and Downgrades

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

Pembina Pipeline Company 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.