Pembina Pipeline Co. (NYSE:PBA) Shares Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company boosted its position in shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 71.6% in the third quarter, Holdings Channel.com reports. The firm owned 3,163,711 shares of the pipeline company’s stock after acquiring an additional 1,319,709 shares during the period. The Manufacturers Life Insurance Company’s holdings in Pembina Pipeline were worth $130,501,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Kingsview Wealth Management LLC grew its holdings in Pembina Pipeline by 4.1% during the 3rd quarter. Kingsview Wealth Management LLC now owns 6,947 shares of the pipeline company’s stock worth $286,000 after acquiring an additional 273 shares in the last quarter. CENTRAL TRUST Co grew its holdings in Pembina Pipeline by 65.0% during the 3rd quarter. CENTRAL TRUST Co now owns 825 shares of the pipeline company’s stock worth $34,000 after acquiring an additional 325 shares in the last quarter. Granite Group Advisors LLC grew its holdings in Pembina Pipeline by 5.2% during the 1st quarter. Granite Group Advisors LLC now owns 6,719 shares of the pipeline company’s stock worth $237,000 after acquiring an additional 330 shares in the last quarter. Oppenheimer Asset Management Inc. grew its holdings in Pembina Pipeline by 1.8% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 18,675 shares of the pipeline company’s stock worth $770,000 after acquiring an additional 334 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in Pembina Pipeline by 30.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,668 shares of the pipeline company’s stock worth $65,000 after acquiring an additional 387 shares in the last quarter. 55.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PBA has been the subject of several recent analyst reports. UBS Group assumed coverage on shares of Pembina Pipeline in a report on Wednesday, September 11th. They set a “neutral” rating for the company. Citigroup raised their price target 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. Finally, Raymond James assumed coverage on shares of Pembina Pipeline in a research report on Friday, October 11th. They issued an “outperform” rating on the stock. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Pembina Pipeline presently has a consensus rating of “Hold” and a consensus target price of $56.50.

Pembina Pipeline Trading Down 1.0 %

Pembina Pipeline stock opened at $41.22 on Wednesday. The company has a market cap of $23.93 billion, a P/E ratio of 17.03 and a beta of 1.25. The firm’s 50-day moving average is $41.95 and its 200-day moving average is $39.42. Pembina Pipeline Co. has a 1 year low of $32.39 and a 1 year 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.

Pembina Pipeline Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors 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 an increase from Pembina Pipeline’s previous quarterly dividend of $0.50. This represents a $2.76 annualized dividend and a yield of 6.70%. Pembina Pipeline’s dividend payout ratio (DPR) is currently 84.30%.

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.