Pembina Pipeline (NYSE:PBA) Trading 4.8% Higher Following Dividend Announcement

Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL)’s stock price shot up 4.8% during trading on Friday after the company announced a dividend. The company traded as high as $38.25 and last traded at $38.10. 272,499 shares were traded during mid-day trading, a decline of 82% from the average session volume of 1,473,579 shares. The stock had previously closed at $36.35.

The newly announced dividend which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be given a $0.4783 dividend. This represents a $1.91 dividend on an annualized basis and a yield of 4.92%. The ex-dividend date of this dividend is Monday, March 17th. Pembina Pipeline’s dividend payout ratio (DPR) is currently 80.58%.

Analyst Upgrades and Downgrades

Several brokerages have commented on PBA. Wells Fargo & Company cut shares of Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. TD Securities initiated coverage on Pembina Pipeline in a report on Wednesday, January 15th. They set a “buy” rating on the stock. Finally, Barclays assumed coverage on Pembina Pipeline in a research note on Thursday, December 12th. They issued an “overweight” rating for the company. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $56.50.

Pembina Pipeline Stock Performance

The company has a current ratio of 0.65, a quick ratio of 0.51 and a debt-to-equity ratio of 0.79. The company has a market cap of $22.56 billion, a P/E ratio of 16.06 and a beta of 1.25. The company has a 50 day moving average price of $36.65 and a 200-day moving average price of $39.37.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Blue Trust Inc. grew its holdings in shares of Pembina Pipeline by 223.8% during the 3rd quarter. Blue Trust Inc. now owns 735 shares of the pipeline company’s stock valued at $30,000 after purchasing an additional 508 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Pembina Pipeline by 16.0% during the third quarter. Assenagon Asset Management S.A. now owns 24,697 shares of the pipeline company’s stock worth $1,019,000 after buying an additional 3,399 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Pembina Pipeline by 8.8% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 14,757 shares of the pipeline company’s stock worth $609,000 after buying an additional 1,199 shares in the last quarter. US Bancorp DE lifted its stake in shares of Pembina Pipeline by 22.0% in the 3rd quarter. US Bancorp DE now owns 11,161 shares of the pipeline company’s stock valued at $460,000 after acquiring an additional 2,014 shares during the last quarter. Finally, AustralianSuper Pty Ltd bought a new stake in Pembina Pipeline during the 3rd quarter worth $3,317,000. Institutional investors own 55.37% of the company’s stock.

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.