Arrowstreet Capital Limited Partnership Purchases Shares of 1,979,669 Pembina Pipeline Co. (NYSE:PBA)

Arrowstreet Capital Limited Partnership bought a new stake in shares of Pembina Pipeline Co. (NYSE:PBA - Free Report) TSE: PPL during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,979,669 shares of the pipeline company's stock, valued at approximately $73,073,000. Arrowstreet Capital Limited Partnership owned about 0.34% of Pembina Pipeline as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in PBA. Pictet Asset Management Holding SA increased its stake in shares of Pembina Pipeline by 1.2% in the fourth quarter. Pictet Asset Management Holding SA now owns 269,138 shares of the pipeline company's stock worth $9,939,000 after buying an additional 3,127 shares during the period. Norges Bank purchased a new position in shares of Pembina Pipeline in the fourth quarter valued at about $171,860,000. Korea Investment CORP raised its position in Pembina Pipeline by 32.7% during the 4th quarter. Korea Investment CORP now owns 440,818 shares of the pipeline company's stock valued at $16,279,000 after purchasing an additional 108,529 shares during the last quarter. TD Asset Management Inc. raised its holdings in shares of Pembina Pipeline by 5.4% during the fourth quarter. TD Asset Management Inc. now owns 6,789,722 shares of the pipeline company's stock valued at $250,732,000 after acquiring an additional 347,872 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Pembina Pipeline by 3.2% in the fourth quarter. Vanguard Group Inc. now owns 24,887,077 shares of the pipeline company's stock worth $919,503,000 after acquiring an additional 770,729 shares during the period. Hedge funds and other institutional investors own 55.37% of the company's stock.

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Wall Street Analyst Weigh In

A number of research analysts have recently commented on PBA shares. TD Securities started coverage on Pembina Pipeline in a research note on Wednesday, January 15th. They issued a "buy" rating for the company. Barclays started coverage on Pembina Pipeline in a research report on Thursday, December 12th. They set an "overweight" rating for the company. Wells Fargo & Company downgraded shares of Pembina Pipeline from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, December 18th. Finally, Citigroup raised shares of Pembina Pipeline from a "neutral" rating to a "buy" rating in a research report on Monday, March 10th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, Pembina Pipeline has an average rating of "Moderate Buy" and a consensus price target of $56.50.

Pembina Pipeline Stock Down 7.9 %

Shares of NYSE:PBA traded down $3.19 during trading on Friday, reaching $37.21. 789,093 shares of the stock traded hands, compared to its average volume of 1,259,656. Pembina Pipeline Co. has a 52-week low of $33.83 and a 52-week high of $43.44. The stock has a 50-day moving average of $37.84 and a two-hundred day moving average of $39.29. 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 stock has a market cap of $21.61 billion, a P/E ratio of 15.37 and a beta of 1.26.

Pembina Pipeline Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were issued a dividend of $0.4783 per share. The ex-dividend date was Monday, March 17th. This represents a $1.91 annualized dividend and a dividend yield of 5.14%. Pembina Pipeline's payout ratio is 86.76%.

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.