Intech Investment Management LLC Has $2.83 Million Stock Position in Pembina Pipeline Co. (NYSE:PBA)

Intech Investment Management LLC lessened its stake in shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 0.4% during the third quarter, Holdings Channel.com reports. The firm owned 68,564 shares of the pipeline company’s stock after selling 284 shares during the period. Intech Investment Management LLC’s holdings in Pembina Pipeline were worth $2,829,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PBA. Toronto Dominion Bank boosted its holdings 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 worth $331,439,000 after acquiring an additional 4,405,792 shares in the last quarter. Canada Pension Plan Investment Board lifted its holdings in shares of Pembina Pipeline by 56.9% in the 2nd quarter. Canada Pension Plan Investment Board now owns 8,387,525 shares of the pipeline company’s stock worth $311,142,000 after purchasing an additional 3,043,200 shares in the last quarter. Intact Investment Management Inc. grew its position in Pembina Pipeline by 83.2% in the 3rd quarter. Intact Investment Management Inc. now owns 1,976,934 shares of the pipeline company’s stock valued at $81,498,000 after purchasing an additional 897,940 shares during the period. Clearbridge Investments LLC grew its position in Pembina Pipeline by 2,256.3% in the 2nd quarter. Clearbridge Investments LLC now owns 649,778 shares of the pipeline company’s stock valued at $24,094,000 after purchasing an additional 622,202 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its holdings in Pembina Pipeline by 55.3% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,600,000 shares of the pipeline company’s stock worth $59,373,000 after buying an additional 570,000 shares during the last quarter. 55.37% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on PBA shares. Raymond James assumed coverage on shares of Pembina Pipeline in a report on Friday, October 11th. They set an “outperform” rating for the company. UBS Group started coverage on Pembina Pipeline in a research note on Wednesday, September 11th. They set a “neutral” rating for the company. Finally, Citigroup boosted their price objective on Pembina Pipeline from $53.00 to $56.00 and gave the stock a “neutral” rating in a report on Wednesday, August 28th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $56.50.

Pembina Pipeline Stock Performance

NYSE PBA opened at $42.93 on Friday. 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 company has a fifty day moving average price of $41.92 and a 200-day moving average price of $39.33. Pembina Pipeline Co. has a 1 year low of $32.39 and a 1 year high of $43.44. The firm has a market cap of $24.92 billion, a price-to-earnings ratio of 17.74 and a beta of 1.25.

Pembina Pipeline Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be paid a $0.69 dividend. This is a positive change from Pembina Pipeline’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.76 annualized dividend and a yield of 6.43%. Pembina Pipeline’s dividend payout ratio (DPR) is 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.