Entropy Technologies LP Makes New $961,000 Investment in Pembina Pipeline Co. (NYSE:PBA)

Entropy Technologies LP purchased a new stake in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) in the 3rd quarter, HoldingsChannel.com reports. The firm purchased 23,301 shares of the pipeline company’s stock, valued at approximately $961,000.

Several other hedge funds have also recently modified their holdings of PBA. Fiera Capital Corp increased its holdings in Pembina Pipeline by 15.5% during the third quarter. Fiera Capital Corp now owns 1,196,390 shares of the pipeline company’s stock valued at $49,381,000 after buying an additional 160,946 shares during the period. Gold Investment Management Ltd. increased its holdings in shares of Pembina Pipeline by 4.2% in the 3rd quarter. Gold Investment Management Ltd. now owns 11,001 shares of the pipeline company’s stock valued at $453,000 after acquiring an additional 439 shares during the period. Heronetta Management L.P. raised its position in shares of Pembina Pipeline by 2.1% in the 3rd quarter. Heronetta Management L.P. now owns 195,698 shares of the pipeline company’s stock worth $8,071,000 after acquiring an additional 4,000 shares in the last quarter. Keudell Morrison Wealth Management purchased a new stake in shares of Pembina Pipeline during the 3rd quarter worth $204,000. Finally, Harvest Portfolios Group Inc. boosted its position in Pembina Pipeline by 1.0% during the third quarter. Harvest Portfolios Group Inc. now owns 261,407 shares of the pipeline company’s stock valued at $10,776,000 after purchasing an additional 2,630 shares in the last quarter. Hedge funds and other institutional investors own 55.37% of the company’s stock.

Wall Street Analyst Weigh In

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

Pembina Pipeline Stock Performance

PBA opened at $41.52 on Thursday. The firm’s 50-day moving average price is $41.68 and its 200-day moving average price is $38.98. The company has a market cap of $24.10 billion, a P/E ratio of 17.15 and a beta of 1.25. The company has a quick ratio of 0.51, a current ratio of 0.65 and a debt-to-equity ratio of 0.79. Pembina Pipeline Co. has a 52-week low of $31.51 and a 52-week high of $43.44.

Pembina Pipeline Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be issued a $0.69 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 6.65%. This is a boost from Pembina Pipeline’s previous quarterly dividend of $0.50. 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.