Russell Investments Group Ltd. Purchases 126,213 Shares of Pembina Pipeline Co. (NYSE:PBA)

Russell Investments Group Ltd. grew its stake in shares of Pembina Pipeline Co. (NYSE:PBA - Free Report) TSE: PPL by 16.3% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 898,534 shares of the pipeline company's stock after buying an additional 126,213 shares during the period. Russell Investments Group Ltd. owned approximately 0.15% of Pembina Pipeline worth $33,171,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Envestnet Asset Management Inc. lifted its position in shares of Pembina Pipeline by 5.1% in the 4th quarter. Envestnet Asset Management Inc. now owns 308,872 shares of the pipeline company's stock worth $11,413,000 after acquiring an additional 15,002 shares during the period. Aviva PLC lifted its position in Pembina Pipeline by 8.2% in the fourth quarter. Aviva PLC now owns 347,244 shares of the pipeline company's stock worth $12,804,000 after purchasing an additional 26,235 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in Pembina Pipeline during the fourth quarter worth $459,000. Wells Fargo & Company MN increased its holdings in Pembina Pipeline by 4.5% in the 4th quarter. Wells Fargo & Company MN now owns 215,118 shares of the pipeline company's stock valued at $7,949,000 after buying an additional 9,325 shares during the period. Finally, Prudential PLC acquired a new position in shares of Pembina Pipeline in the 4th quarter valued at $372,000. Institutional investors own 55.37% of the company's stock.

Pembina Pipeline Price Performance

PBA stock traded up $1.18 during midday trading on Friday, reaching $36.34. 1,067,576 shares of the company's stock traded hands, compared to its average volume of 1,275,696. The company has a quick ratio of 0.51, a current ratio of 0.65 and a debt-to-equity ratio of 0.79. The company has a market cap of $21.10 billion, a price-to-earnings ratio of 15.01 and a beta of 0.89. The company has a 50-day simple moving average of $37.77 and a two-hundred day simple moving average of $39.01. Pembina Pipeline Co. has a 1-year low of $33.83 and a 1-year high of $43.44.

Pembina Pipeline Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were issued a $0.4783 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $1.91 dividend on an annualized basis and a dividend yield of 5.26%. Pembina Pipeline's dividend payout ratio is 86.76%.

Analyst Ratings Changes

PBA has been the topic of a number of analyst reports. Citigroup raised shares of Pembina Pipeline from a "neutral" rating to a "buy" rating in a research note on Monday, March 10th. TD Securities began coverage on Pembina Pipeline in a report on Wednesday, January 15th. They issued a "buy" rating for the company. Finally, Wells Fargo & Company lowered Pembina Pipeline from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, December 18th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, Pembina Pipeline currently has a consensus rating of "Moderate Buy" and a consensus price target of $56.50.

Pembina Pipeline Company 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.