Van ECK Associates Corp raised its stake in Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 18.0% during the first quarter, Holdings Channel reports. The firm owned 3,405 shares of the pipeline company’s stock after buying an additional 520 shares during the period. Van ECK Associates Corp’s holdings in Pembina Pipeline Corp. were worth $108,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PBA. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in Pembina Pipeline Corp. during the fourth quarter valued at approximately $6,259,000. Ladenburg Thalmann Financial Services Inc. increased its position in Pembina Pipeline Corp. by 2.5% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 39,043 shares of the pipeline company’s stock valued at $1,223,000 after buying an additional 952 shares during the period. AQR Capital Management LLC acquired a new position in Pembina Pipeline Corp. during the fourth quarter valued at approximately $631,000. Guggenheim Capital LLC increased its position in Pembina Pipeline Corp. by 15.6% in the fourth quarter. Guggenheim Capital LLC now owns 99,650 shares of the pipeline company’s stock valued at $3,119,000 after buying an additional 13,465 shares during the period. Finally, Franklin Resources Inc. increased its position in Pembina Pipeline Corp. by 4.0% in the fourth quarter. Franklin Resources Inc. now owns 38,113 shares of the pipeline company’s stock valued at $1,191,000 after buying an additional 1,450 shares during the period. 45.86% of the stock is owned by institutional investors.
Shares of Pembina Pipeline Corp. (NYSE PBA) traded up 1.13% on Friday, reaching $33.00. 1,021,260 shares of the company’s stock traded hands. The stock has a market cap of $13.23 billion, a price-to-earnings ratio of 34.99 and a beta of 0.67. Pembina Pipeline Corp. has a 52-week low of $27.44 and a 52-week high of $33.56. The firm’s 50-day moving average is $32.22 and its 200-day moving average is $31.84.
The company also recently declared a jun 17 dividend, which will be paid on Saturday, July 15th. Shareholders of record on Sunday, June 25th will be given a $0.17 dividend. The ex-dividend date is Wednesday, June 21st. This represents a dividend yield of 4.61%. Pembina Pipeline Corp.’s payout ratio is currently 153.61%.
Several research firms recently commented on PBA. Desjardins downgraded shares of Pembina Pipeline Corp. from a “top pick” rating to a “buy” rating in a report on Monday, February 27th. Zacks Investment Research downgraded shares of Pembina Pipeline Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, May 23rd. AltaCorp Capital reaffirmed an “outperform” rating on shares of Pembina Pipeline Corp. in a report on Wednesday, May 3rd. Finally, National Bank Financial raised shares of Pembina Pipeline Corp. from a “sector perform” rating to an “outperform” rating in a report on Tuesday, May 2nd. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Pembina Pipeline Corp. currently has an average rating of “Buy” and an average price target of $42.50.
About Pembina Pipeline Corp.
Pembina Pipeline Corporation is an energy transportation and service provider. The Company operates through four segments. The Conventional Pipelines segment consists of the tariff-based operations of pipelines and related facilities to deliver crude oil, condensate and natural gas liquids (NGL) in Alberta, British Columbia, Saskatchewan, and North Dakota, United States.
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