PDT Partners LLC Buys New Stake in Pembina Pipeline Co. (NYSE:PBA)

PDT Partners LLC purchased a new position in shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 32,220 shares of the pipeline company’s stock, valued at approximately $1,329,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Cetera Advisors LLC lifted its holdings in Pembina Pipeline by 248.9% in the first quarter. Cetera Advisors LLC now owns 31,948 shares of the pipeline company’s stock worth $1,129,000 after purchasing an additional 22,790 shares during the period. Sequoia Financial Advisors LLC increased its stake in shares of Pembina Pipeline by 7.2% during the third quarter. Sequoia Financial Advisors LLC now owns 12,767 shares of the pipeline company’s stock valued at $527,000 after acquiring an additional 860 shares during the period. Triasima Portfolio Management inc. increased its stake in shares of Pembina Pipeline by 49.2% during the second quarter. Triasima Portfolio Management inc. now owns 784,516 shares of the pipeline company’s stock valued at $29,095,000 after acquiring an additional 258,575 shares during the period. Cetera Investment Advisers raised its holdings in Pembina Pipeline by 105.1% during the first quarter. Cetera Investment Advisers now owns 48,237 shares of the pipeline company’s stock worth $1,705,000 after purchasing an additional 24,717 shares in the last quarter. Finally, Fiera Capital Corp boosted its stake in Pembina Pipeline by 15.5% during the 3rd quarter. Fiera Capital Corp now owns 1,196,390 shares of the pipeline company’s stock valued at $49,381,000 after purchasing an additional 160,946 shares in the last quarter. Institutional investors own 55.37% of the company’s stock.

Pembina Pipeline Trading Up 0.4 %

NYSE:PBA opened at $41.37 on Monday. The stock has a fifty day simple moving average of $42.00 and a 200 day simple moving average of $39.50. The company has a quick ratio of 0.51, a current ratio of 0.65 and a debt-to-equity ratio of 0.79. The firm has a market capitalization of $24.02 billion, a price-to-earnings ratio of 17.10 and a beta of 1.25. Pembina Pipeline Co. has a 1-year low of $32.39 and a 1-year high of $43.44.

Pembina Pipeline Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given a $0.69 dividend. This is an increase from Pembina Pipeline’s previous quarterly dividend of $0.50. This represents a $2.76 annualized dividend and a dividend yield of 6.67%. The ex-dividend date of this dividend is Monday, December 16th. Pembina Pipeline’s dividend payout ratio (DPR) is 84.30%.

Wall Street Analysts Forecast Growth

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

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.