Entropy Technologies LP bought a new stake in shares of Pembina Pipeline Co. (NYSE:PBA - Free Report) TSE: PPL in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 23,301 shares of the pipeline company's stock, valued at approximately $961,000.
Other hedge funds have also added to or reduced their stakes in the company. Janney Montgomery Scott LLC grew its position in shares of Pembina Pipeline by 6.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 9,475 shares of the pipeline company's stock valued at $335,000 after acquiring an additional 538 shares during the period. Oppenheimer Asset Management Inc. grew its position in shares of Pembina Pipeline by 19.4% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 17,863 shares of the pipeline company's stock valued at $631,000 after acquiring an additional 2,902 shares during the period. Headlands Technologies LLC bought a new stake in shares of Pembina Pipeline during the 1st quarter valued at $100,000. Intech Investment Management LLC bought a new stake in shares of Pembina Pipeline during the 1st quarter valued at $1,387,000. Finally, Vanguard Group Inc. grew its position in shares of Pembina Pipeline by 2.1% during the 1st 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 during the period. 55.37% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
PBA has been the subject of a number of recent research reports. Raymond James assumed coverage on shares of Pembina Pipeline in a research report on Friday, October 11th. They set an "outperform" rating for the company. UBS Group assumed coverage on shares of Pembina Pipeline in a report on Wednesday, September 11th. They issued a "neutral" rating for the company. Finally, Citigroup upped their target price on shares of Pembina Pipeline from $53.00 to $56.00 and gave the stock a "neutral" rating in a report on Wednesday, August 28th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $56.50.
Get Our Latest Stock Analysis on Pembina Pipeline
Pembina Pipeline Price Performance
Pembina Pipeline stock traded up $0.28 during mid-day trading on Thursday, hitting $41.79. The stock had a trading volume of 1,252,649 shares, compared to its average volume of 1,113,036. The firm has a market capitalization of $24.26 billion, a P/E ratio of 17.33 and a beta of 1.25. 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 firm's 50 day moving average is $41.70 and its 200 day moving average is $39.00. Pembina Pipeline Co. has a one year low of $31.51 and a one year high of $43.44.
Pembina Pipeline Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be issued a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 6.60%. The ex-dividend date of this dividend is Monday, December 16th. This is an increase from Pembina Pipeline's previous quarterly dividend of $0.50. Pembina Pipeline's dividend payout ratio is 84.30%.
About Pembina Pipeline
(
Free Report)
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.
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