Pembina Pipeline Co. (NYSE:PBA) Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC grew its stake in shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 10.2% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 2,715,428 shares of the pipeline company’s stock after acquiring an additional 251,982 shares during the quarter. Geode Capital Management LLC’s holdings in Pembina Pipeline were worth $113,531,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Godsey & Gibb Inc. acquired a new stake in shares of Pembina Pipeline during the third quarter valued at $25,000. Prospera Private Wealth LLC purchased a new position in Pembina Pipeline in the 3rd quarter valued at about $26,000. Safe Harbor Fiduciary LLC acquired a new stake in shares of Pembina Pipeline during the 3rd quarter worth about $26,000. Dunhill Financial LLC purchased a new stake in shares of Pembina Pipeline during the third quarter worth about $28,000. Finally, Blue Trust Inc. grew its holdings in shares of Pembina Pipeline by 223.8% during the third quarter. Blue Trust Inc. now owns 735 shares of the pipeline company’s stock worth $30,000 after buying an additional 508 shares in the last quarter. 55.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PBA. Citigroup upped their price objective 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. Raymond James began coverage on Pembina Pipeline in a report on Friday, October 11th. They set an “outperform” rating on the stock. Barclays assumed coverage on Pembina Pipeline in a research note on Thursday, December 12th. They issued an “overweight” rating for the company. Finally, UBS Group initiated coverage on Pembina Pipeline in a research note on Wednesday, September 11th. They issued a “neutral” rating on the stock. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $56.50.

Pembina Pipeline Trading Down 0.9 %

Shares of PBA opened at $37.03 on Wednesday. Pembina Pipeline Co. has a twelve month low of $32.81 and a twelve month high of $43.44. The firm has a market capitalization of $21.49 billion, a P/E ratio of 15.30 and a beta of 1.24. The company has a current ratio of 0.65, a quick ratio of 0.51 and a debt-to-equity ratio of 0.79. The stock’s fifty day simple moving average is $41.36 and its 200 day simple moving average is $39.70.

Pembina Pipeline Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be paid a $0.69 dividend. This is a positive change from Pembina Pipeline’s previous quarterly dividend of $0.50. This represents a $2.76 annualized dividend and a dividend yield of 7.45%. The ex-dividend date of this dividend is Monday, December 16th. Pembina Pipeline’s payout ratio is currently 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.