Point72 Asset Management L.P. Raises Stock Holdings in Pembina Pipeline Co. (NYSE:PBA)

Point72 Asset Management L.P. grew its stake in shares of Pembina Pipeline Co. (NYSE:PBA - Free Report) TSE: PPL by 114.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 536,545 shares of the pipeline company's stock after acquiring an additional 286,267 shares during the quarter. Point72 Asset Management L.P. owned about 0.09% of Pembina Pipeline worth $22,121,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in PBA. Godsey & Gibb Inc. purchased a new stake in Pembina Pipeline in the third quarter worth approximately $25,000. Prospera Private Wealth LLC purchased a new position in shares of Pembina Pipeline in the 3rd quarter worth $26,000. Blue Trust Inc. grew its holdings in shares of Pembina Pipeline by 223.8% in the third quarter. Blue Trust Inc. now owns 735 shares of the pipeline company's stock worth $30,000 after acquiring an additional 508 shares during the period. CENTRAL TRUST Co increased its position in Pembina Pipeline by 65.0% during the third quarter. CENTRAL TRUST Co now owns 825 shares of the pipeline company's stock valued at $34,000 after acquiring an additional 325 shares during the last quarter. Finally, Larson Financial Group LLC increased its position in Pembina Pipeline by 67.6% during the third quarter. Larson Financial Group LLC now owns 1,341 shares of the pipeline company's stock valued at $55,000 after acquiring an additional 541 shares during the last quarter. 55.37% of the stock is currently owned by institutional investors.

Pembina Pipeline Stock Performance

Shares of PBA stock traded down $1.13 during trading hours on Friday, reaching $39.44. 1,745,919 shares of the company traded hands, compared to its average volume of 1,127,104. The firm has a 50-day moving average price of $41.93 and a 200 day moving average price of $39.56. The company has a market cap of $22.90 billion, a P/E ratio of 16.30 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 12-month low of $32.39 and a 12-month high of $43.44.

Pembina Pipeline Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be issued a $0.69 dividend. This is an increase from Pembina Pipeline's previous quarterly dividend of $0.50. This represents a $2.76 dividend on an annualized basis and a yield of 7.00%. The ex-dividend date is Monday, December 16th. Pembina Pipeline's payout ratio is currently 84.30%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Citigroup boosted their price target on 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 report on Friday, October 11th. They issued an "outperform" rating on the stock. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, Pembina Pipeline presently 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.