Pembina Pipeline Co. (NYSE:PBA) Shares Purchased by Van ECK Associates Corp

Van ECK Associates Corp lifted its position in Pembina Pipeline Co. (NYSE:PBA - Free Report) TSE: PPL by 14.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 208,922 shares of the pipeline company's stock after acquiring an additional 25,841 shares during the period. Van ECK Associates Corp's holdings in Pembina Pipeline were worth $8,901,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised 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 worth $779,372,000 after purchasing an additional 460,761 shares during the last quarter. Toronto Dominion Bank increased its holdings in shares of 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 purchasing an additional 4,405,792 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in Pembina Pipeline by 56.9% in the 2nd quarter. Canada Pension Plan Investment Board now owns 8,387,525 shares of the pipeline company's stock valued at $311,142,000 after buying an additional 3,043,200 shares in the last quarter. ClearBridge Investments Ltd increased its stake in shares of 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 acquiring an additional 784,814 shares during the last quarter. Finally, CIBC Asset Management Inc increased its position in Pembina Pipeline by 7.5% during the second quarter. CIBC Asset Management Inc now owns 5,924,706 shares of the pipeline company's stock worth $219,689,000 after purchasing an additional 414,419 shares during the last quarter. Institutional investors and hedge funds own 55.37% of the company's stock.

Analyst Ratings Changes

Several brokerages have weighed in on PBA. Raymond James assumed coverage on shares of Pembina Pipeline in a research note 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 price target on Pembina Pipeline from $53.00 to $56.00 and gave the stock a "neutral" rating in a research note 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. According to data from MarketBeat, Pembina Pipeline currently has an average rating of "Hold" and a consensus price target of $56.50.

Pembina Pipeline Stock Up 1.9 %

NYSE:PBA traded up $0.77 during midday trading on Thursday, reaching $41.31. The company had a trading volume of 642,816 shares, compared to its average volume of 1,116,732. Pembina Pipeline Co. has a 12-month low of $31.51 and a 12-month high of $43.44. The stock's fifty day simple moving average is $41.60 and its 200-day simple moving average is $38.80. The company has a current ratio of 0.68, a quick ratio of 0.55 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $23.98 billion, a price-to-earnings ratio of 16.89 and a beta of 1.25.

Pembina Pipeline (NYSE:PBA - Get Free Report) TSE: PPL last issued its quarterly earnings results on Thursday, August 8th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.21. Pembina Pipeline had a return on equity of 13.68% and a net margin of 23.50%. The firm had revenue of $1.36 billion for the quarter, compared to analysts' expectations of $1.44 billion. During the same quarter in the previous year, the firm posted $0.45 EPS. The firm's revenue for the quarter was up 30.5% on a year-over-year basis. On average, sell-side analysts anticipate that Pembina Pipeline Co. will post 2.38 earnings per share for the current fiscal year.

Pembina Pipeline Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be paid a dividend of $0.69 per share. 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. This represents a $2.76 dividend on an annualized basis and a dividend yield of 6.68%. Pembina Pipeline's dividend payout ratio is 85.00%.

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.