CIBC Asset Management Inc Acquires 481,285 Shares of Pembina Pipeline Co. (NYSE:PBA)

CIBC Asset Management Inc lifted its stake in shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 8.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,405,991 shares of the pipeline company’s stock after purchasing an additional 481,285 shares during the quarter. CIBC Asset Management Inc owned 1.10% of Pembina Pipeline worth $264,315,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Pembina Pipeline by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 22,053,531 shares of the pipeline company’s stock valued at $779,372,000 after acquiring an additional 460,761 shares during the last quarter. Toronto Dominion Bank raised its position in 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 boosted its stake in shares of Pembina Pipeline by 56.9% during the second quarter. Canada Pension Plan Investment Board now owns 8,387,525 shares of the pipeline company’s stock valued at $311,142,000 after purchasing an additional 3,043,200 shares in the last quarter. ClearBridge Investments Ltd grew its holdings in shares of Pembina Pipeline by 12.3% during the first quarter. ClearBridge Investments Ltd now owns 7,173,059 shares of the pipeline company’s stock worth $253,496,000 after purchasing an additional 784,814 shares during the last quarter. Finally, TD Asset Management Inc increased its stake in shares of Pembina Pipeline by 0.9% in the second quarter. TD Asset Management Inc now owns 4,759,869 shares of the pipeline company’s stock valued at $176,571,000 after buying an additional 44,441 shares during the period. 55.37% of the stock is owned by institutional investors.

Pembina Pipeline Stock Up 0.7 %

Shares of NYSE PBA opened at $41.79 on Friday. Pembina Pipeline Co. has a 52-week low of $31.51 and a 52-week high of $43.44. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.51 and a current ratio of 0.65. The company’s 50 day moving average price is $41.70 and its 200-day moving average price is $39.00. The company has a market capitalization of $24.26 billion, a P/E ratio of 17.27 and a beta of 1.25.

Pembina Pipeline Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given a $0.69 dividend. The ex-dividend date of this dividend is Monday, December 16th. This is a positive change from Pembina Pipeline’s previous quarterly dividend of $0.50. This represents a $2.76 annualized dividend and a dividend yield of 6.60%. Pembina Pipeline’s dividend payout ratio (DPR) is 84.30%.

Wall Street Analyst Weigh In

Several research firms recently commented on PBA. Citigroup lifted their target price on shares of Pembina Pipeline from $53.00 to $56.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 28th. Raymond James assumed coverage on shares of Pembina Pipeline in a research note on Friday, October 11th. They issued an “outperform” rating on the stock. Finally, UBS Group started coverage on Pembina Pipeline in a research report on Wednesday, September 11th. They set a “neutral” rating for the company. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price 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.