LPL Financial LLC Purchases 3,558 Shares of Pembina Pipeline Corp. (NYSE:PBA)

LPL Financial LLC grew its position in shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 4.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 85,312 shares of the pipeline company’s stock after buying an additional 3,558 shares during the quarter. LPL Financial LLC’s holdings in Pembina Pipeline were worth $3,415,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. First Horizon Advisors Inc. lifted its position in Pembina Pipeline by 69.9% during the first quarter. First Horizon Advisors Inc. now owns 673 shares of the pipeline company’s stock valued at $27,000 after purchasing an additional 277 shares during the period. Larson Financial Group LLC lifted its position in Pembina Pipeline by 53.4% during the first quarter. Larson Financial Group LLC now owns 1,341 shares of the pipeline company’s stock valued at $54,000 after purchasing an additional 467 shares during the period. Dunhill Financial LLC lifted its position in Pembina Pipeline by 100.0% during the fourth quarter. Dunhill Financial LLC now owns 1,350 shares of the pipeline company’s stock valued at $50,000 after purchasing an additional 675 shares during the period. Versant Capital Management Inc lifted its position in Pembina Pipeline by 108.3% during the first quarter. Versant Capital Management Inc now owns 1,525 shares of the pipeline company’s stock valued at $61,000 after purchasing an additional 793 shares during the period. Finally, Hexagon Capital Partners LLC lifted its position in Pembina Pipeline by 17.0% during the first quarter. Hexagon Capital Partners LLC now owns 2,397 shares of the pipeline company’s stock valued at $96,000 after purchasing an additional 349 shares during the period. Hedge funds and other institutional investors own 55.37% of the company’s stock.

Pembina Pipeline Stock Down 0.0%

PBA opened at $36.69 on Friday. The company has a current ratio of 0.77, a quick ratio of 0.62 and a debt-to-equity ratio of 0.81. Pembina Pipeline Corp. has a 1-year low of $34.13 and a 1-year high of $43.44. The company has a market capitalization of $21.31 billion, a PE ratio of 17.23 and a beta of 0.78. The firm’s 50 day simple moving average is $37.05 and its two-hundred day simple moving average is $37.50.

Pembina Pipeline Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be given a $0.71 dividend. The ex-dividend date is Monday, September 15th. This is a boost from Pembina Pipeline’s previous quarterly dividend of $0.51. This represents a $2.84 annualized dividend and a yield of 7.7%. Pembina Pipeline’s payout ratio is 97.18%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PBA. Wells Fargo & Company downgraded shares of Pembina Pipeline from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 6th. National Bank Financial upgraded shares of Pembina Pipeline from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, June 25th. Barclays restated an “overweight” rating on shares of Pembina Pipeline in a research report on Tuesday, June 3rd. BMO Capital Markets restated an “outperform” rating on shares of Pembina Pipeline in a research report on Monday. Finally, Jefferies Financial Group downgraded shares of Pembina Pipeline from a “buy” rating to a “hold” rating in a research report on Wednesday, July 23rd. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $56.00.

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.