Point72 Europe London LLP Buys 154,973 Shares of Pembina Pipeline Co. (NYSE:PBA)

Point72 Europe London LLP boosted its stake in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 48.5% in the third quarter, HoldingsChannel reports. The firm owned 474,573 shares of the pipeline company’s stock after acquiring an additional 154,973 shares during the period. Pembina Pipeline accounts for about 1.2% of Point72 Europe London LLP’s holdings, making the stock its 12th biggest position. Point72 Europe London LLP’s holdings in Pembina Pipeline were worth $19,567,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Janus Henderson Group PLC raised its holdings in Pembina Pipeline by 3.4% in the first quarter. Janus Henderson Group PLC now owns 60,676 shares of the pipeline company’s stock worth $2,144,000 after purchasing an additional 2,000 shares during the period. B. Riley Wealth Advisors Inc. lifted its holdings in Pembina Pipeline by 10.4% during the first quarter. B. Riley Wealth Advisors Inc. now owns 19,628 shares of the pipeline company’s stock worth $694,000 after acquiring an additional 1,843 shares in the last quarter. Cetera Investment Advisers grew its stake in Pembina Pipeline by 105.1% in the first quarter. Cetera Investment Advisers now owns 48,237 shares of the pipeline company’s stock valued at $1,705,000 after acquiring an additional 24,717 shares during the period. Cetera Advisors LLC increased its holdings in shares of Pembina Pipeline by 248.9% in the first quarter. Cetera Advisors LLC now owns 31,948 shares of the pipeline company’s stock worth $1,129,000 after acquiring an additional 22,790 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its position in shares of Pembina Pipeline by 47.2% during the second quarter. Massmutual Trust Co. FSB ADV now owns 2,511 shares of the pipeline company’s stock worth $93,000 after purchasing an additional 805 shares during the period. Institutional investors and hedge funds own 55.37% of the company’s stock.

Pembina Pipeline Price Performance

Shares of PBA opened at $41.44 on Friday. The company has a quick ratio of 0.51, a current ratio of 0.65 and a debt-to-equity ratio of 0.79. Pembina Pipeline Co. has a twelve month low of $32.39 and a twelve month high of $43.44. The stock has a market capitalization of $24.06 billion, a P/E ratio of 17.12 and a beta of 1.25. The company has a 50 day moving average of $42.00 and a 200-day moving average of $39.47.

Pembina Pipeline Increases Dividend

The firm 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 $0.69 dividend. The ex-dividend date is Monday, December 16th. This represents a $2.76 dividend on an annualized basis and a yield of 6.66%. This is an increase from Pembina Pipeline’s previous quarterly dividend of $0.50. Pembina Pipeline’s dividend payout ratio (DPR) is 84.30%.

Analyst Upgrades and Downgrades

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