Fmr LLC Has $22.57 Million Stock Holdings in Pembina Pipeline Co. (NYSE:PBA)

Fmr LLC grew its position in shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 1,396.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 547,448 shares of the pipeline company’s stock after purchasing an additional 510,873 shares during the quarter. Fmr LLC owned approximately 0.09% of Pembina Pipeline worth $22,573,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. The Manufacturers Life Insurance Company boosted its stake in shares of Pembina Pipeline by 71.6% during the third quarter. The Manufacturers Life Insurance Company now owns 3,163,711 shares of the pipeline company’s stock valued at $130,501,000 after purchasing an additional 1,319,709 shares in the last quarter. Brown Brothers Harriman & Co. raised its position in shares of Pembina Pipeline by 2,344.0% during the third quarter. Brown Brothers Harriman & Co. now owns 11,951 shares of the pipeline company’s stock worth $493,000 after acquiring an additional 11,462 shares during the last quarter. Larson Financial Group LLC raised its position in shares of Pembina Pipeline by 67.6% during the third quarter. Larson Financial Group LLC now owns 1,341 shares of the pipeline company’s stock worth $55,000 after acquiring an additional 541 shares during the last quarter. Kingsview Wealth Management LLC raised its position in shares of Pembina Pipeline by 4.1% during the third 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 during the last quarter. Finally, Cerity Partners LLC raised its position in shares of Pembina Pipeline by 60.1% during the third quarter. Cerity Partners LLC now owns 32,186 shares of the pipeline company’s stock worth $1,327,000 after acquiring an additional 12,081 shares during the last quarter. 55.37% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Pembina Pipeline Trading Down 0.4 %

Shares of PBA stock opened at $39.27 on Tuesday. The company has a market cap of $22.80 billion, a P/E ratio of 16.23 and a beta of 1.24. The stock has a 50 day simple moving average of $41.86 and a two-hundred day simple moving average of $39.63. 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 Co. has a fifty-two week low of $32.39 and a fifty-two week high of $43.44.

Pembina Pipeline Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be issued a dividend of $0.69 per share. This is an increase 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 dividend yield of 7.03%. Pembina Pipeline’s payout ratio 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.