Vanguard Group Inc. Buys 770,729 Shares of Pembina Pipeline Co. (NYSE:PBA)

Vanguard Group Inc. grew its stake in Pembina Pipeline Co. (NYSE:PBA - Free Report) TSE: PPL by 3.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,887,077 shares of the pipeline company's stock after purchasing an additional 770,729 shares during the quarter. Vanguard Group Inc. owned about 4.29% of Pembina Pipeline worth $919,503,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Safe Harbor Fiduciary LLC bought a new position in Pembina Pipeline in the third quarter worth about $26,000. Versant Capital Management Inc bought a new position in shares of Pembina Pipeline in the 4th quarter worth approximately $27,000. Sound Income Strategies LLC purchased a new position in shares of Pembina Pipeline in the 4th quarter valued at approximately $27,000. Dunhill Financial LLC bought a new stake in shares of Pembina Pipeline during the third quarter valued at approximately $28,000. Finally, Eastern Bank purchased a new stake in Pembina Pipeline in the fourth quarter worth $29,000. 55.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on PBA. Citigroup raised Pembina Pipeline from a "neutral" rating to a "buy" rating in a research report on Monday, March 10th. TD Securities assumed coverage on shares of Pembina Pipeline in a research note on Wednesday, January 15th. They set a "buy" rating on the stock. Barclays started coverage on shares of Pembina Pipeline in a report on Thursday, December 12th. They issued an "overweight" rating on the stock. Finally, Wells Fargo & Company lowered shares of Pembina Pipeline from a "strong-buy" rating to a "hold" rating in a report on Wednesday, December 18th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $56.50.

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Pembina Pipeline Stock Up 0.2 %

PBA stock traded up $0.09 during trading on Wednesday, hitting $40.59. 74,656 shares of the stock traded hands, compared to its average volume of 1,257,837. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.65 and a quick ratio of 0.51. The stock has a market cap of $23.57 billion, a price-to-earnings ratio of 16.77 and a beta of 1.26. Pembina Pipeline Co. has a 1 year low of $33.83 and a 1 year high of $43.44. The firm's 50 day moving average is $37.70 and its two-hundred day moving average is $39.27.

Pembina Pipeline Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were given a $0.4783 dividend. The ex-dividend date was Monday, March 17th. This represents a $1.91 annualized dividend and a yield of 4.71%. Pembina Pipeline's dividend payout ratio (DPR) is presently 86.76%.

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.