Metis Global Partners LLC Increases Stake in Pembina Pipeline Co. (NYSE:PBA)

Metis Global Partners LLC lifted its stake in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 12.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 54,841 shares of the pipeline company’s stock after purchasing an additional 6,274 shares during the period. Metis Global Partners LLC’s holdings in Pembina Pipeline were worth $2,261,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. lifted its stake in Pembina Pipeline by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 22,053,531 shares of the pipeline company’s stock worth $779,372,000 after acquiring an additional 460,761 shares in the last quarter. Toronto Dominion Bank boosted its stake in Pembina Pipeline by 97.2% during the 2nd 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 during the period. Canada Pension Plan Investment Board increased its holdings in shares of Pembina Pipeline by 56.9% in the second quarter. Canada Pension Plan Investment Board now owns 8,387,525 shares of the pipeline company’s stock valued at $311,142,000 after purchasing an additional 3,043,200 shares during the period. ClearBridge Investments Ltd boosted its holdings in Pembina Pipeline by 12.3% in the 1st quarter. ClearBridge Investments Ltd now owns 7,173,059 shares of the pipeline company’s stock valued at $253,496,000 after purchasing an additional 784,814 shares in the last quarter. Finally, CIBC Asset Management Inc grew its stake in shares of Pembina Pipeline by 7.5% during the 2nd quarter. CIBC Asset Management Inc now owns 5,924,706 shares of the pipeline company’s stock worth $219,689,000 after purchasing an additional 414,419 shares during the period. Hedge funds and other institutional investors own 55.37% of the company’s stock.

Pembina Pipeline Stock Performance

Shares of PBA stock opened at $41.64 on Friday. Pembina Pipeline Co. has a one year low of $31.51 and a one year high of $43.44. The firm has a market capitalization of $24.17 billion, a price-to-earnings ratio of 17.17 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 company has a 50 day moving average price of $41.72 and a 200 day moving average price of $39.02.

Pembina Pipeline Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be paid a dividend of $0.69 per share. This is an increase from Pembina Pipeline’s previous quarterly dividend of $0.50. This represents a $2.76 annualized dividend and a yield of 6.63%. The ex-dividend date of this dividend is Monday, December 16th. Pembina Pipeline’s payout ratio is currently 84.30%.

Analysts Set New Price Targets

PBA has been the subject of several research reports. Raymond James assumed coverage on Pembina Pipeline in a research report on Friday, October 11th. They set an “outperform” rating for the company. 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 research note on Wednesday, August 28th. Finally, UBS Group began coverage on shares of Pembina Pipeline in a report on Wednesday, September 11th. They set a “neutral” rating for the company. Four investment 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, the company presently has an average rating of “Hold” and an average target price 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.