Erste Asset Management GmbH Invests $664,000 in Pembina Pipeline Co. (NYSE:PBA)

Erste Asset Management GmbH purchased a new position in shares of Pembina Pipeline Co. (NYSE:PBA - Free Report) TSE: PPL during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 16,100 shares of the pipeline company's stock, valued at approximately $664,000.

Other hedge funds have also added to or reduced their stakes in the company. Point72 Europe London LLP boosted its stake in Pembina Pipeline by 48.5% in the third quarter. Point72 Europe London LLP now owns 474,573 shares of the pipeline company's stock valued at $19,567,000 after buying an additional 154,973 shares in the last quarter. PDT Partners LLC acquired a new stake in shares of Pembina Pipeline in the 3rd quarter valued at approximately $1,329,000. Glenmede Trust Co. NA grew its holdings in shares of Pembina Pipeline by 252.6% during the 3rd quarter. Glenmede Trust Co. NA now owns 7,051 shares of the pipeline company's stock valued at $291,000 after purchasing an additional 5,051 shares during the last quarter. Quantbot Technologies LP acquired a new position in Pembina Pipeline during the 3rd quarter worth approximately $1,107,000. Finally, FMR LLC lifted its stake in Pembina Pipeline by 1,396.8% in the 3rd quarter. FMR LLC now owns 547,448 shares of the pipeline company's stock valued at $22,573,000 after purchasing an additional 510,873 shares during the last quarter. 55.37% of the stock is owned by institutional investors.

Pembina Pipeline Trading Down 0.1 %

Shares of PBA traded down $0.05 during trading hours on Wednesday, hitting $40.12. 1,681,413 shares of the stock were exchanged, compared to its average volume of 1,121,192. The firm has a market capitalization of $23.29 billion, a P/E ratio of 16.58 and a beta of 1.24. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.65 and a quick ratio of 0.51. Pembina Pipeline Co. has a fifty-two week low of $32.39 and a fifty-two week high of $43.44. The business has a 50-day moving average of $41.94 and a 200-day moving average of $39.55.

Pembina Pipeline Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be given a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 6.88%. The ex-dividend date is Monday, December 16th. This is an increase from Pembina Pipeline's previous quarterly dividend of $0.50. Pembina Pipeline's payout ratio is presently 84.30%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on PBA shares. Citigroup raised their price objective on Pembina Pipeline from $53.00 to $56.00 and gave the company a "neutral" rating in a report 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. Finally, UBS Group initiated coverage on shares of Pembina Pipeline in a report on Wednesday, September 11th. They issued a "neutral" rating for the company. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Pembina Pipeline currently has an average rating of "Hold" and an average target price of $56.50.

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.