Pembina Pipeline Co. (NYSE:PBA) Shares Acquired by CIBC Asset Management Inc

CIBC Asset Management Inc lifted its holdings in Pembina Pipeline Co. (NYSE:PBA - Free Report) TSE: PPL by 8.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,405,991 shares of the pipeline company's stock after acquiring an additional 481,285 shares during the quarter. CIBC Asset Management Inc owned 1.10% of Pembina Pipeline worth $264,315,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in Pembina Pipeline by 2.1% during the first quarter. Vanguard Group Inc. now owns 22,053,531 shares of the pipeline company's stock valued at $779,372,000 after acquiring an additional 460,761 shares in the last quarter. Toronto Dominion Bank increased its holdings in Pembina Pipeline by 97.2% in the second quarter. Toronto Dominion Bank now owns 8,938,488 shares of the pipeline company's stock valued at $331,439,000 after buying an additional 4,405,792 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in shares of Pembina Pipeline by 56.9% during the 2nd quarter. Canada Pension Plan Investment Board now owns 8,387,525 shares of the pipeline company's stock worth $311,142,000 after acquiring an additional 3,043,200 shares in the last quarter. ClearBridge Investments Ltd raised 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 worth $253,496,000 after purchasing an additional 784,814 shares during the period. Finally, TD Asset Management Inc boosted its position in Pembina Pipeline by 0.9% during the second quarter. TD Asset Management Inc now owns 4,759,869 shares of the pipeline company's stock worth $176,571,000 after purchasing an additional 44,441 shares in the last quarter. Hedge funds and other institutional investors own 55.37% of the company's stock.

Pembina Pipeline Trading Down 1.0 %

Pembina Pipeline stock traded down $0.42 during midday trading on Friday, hitting $41.37. 650,940 shares of the stock were exchanged, compared to its average volume of 1,110,764. The stock's 50-day simple moving average is $41.72 and its 200 day simple moving average is $39.02. Pembina Pipeline Co. has a fifty-two week low of $31.51 and a fifty-two week high of $43.44. 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 has a market capitalization of $24.01 billion, a price-to-earnings ratio of 17.17 and a beta of 1.25.

Pembina Pipeline Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be given a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 6.67%. The ex-dividend date of this dividend is Monday, December 16th. This is a boost from Pembina Pipeline's previous quarterly dividend of $0.50. Pembina Pipeline's dividend payout ratio (DPR) is currently 84.30%.

Wall Street Analyst Weigh In

PBA has been the topic of a number of research analyst reports. Citigroup lifted their price target 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. UBS Group began 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 note on Friday, October 11th. They set an "outperform" rating for the company. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $56.50.

About Pembina Pipeline

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.