Mufg Securities Canada LTD. trimmed its holdings in Pembina Pipeline Corp. (NYSE:PBA – Free Report) (TSE:PPL) by 4.6% in the second quarter, Holdings Channel reports. The institutional investor owned 822,347 shares of the pipeline company’s stock after selling 39,593 shares during the quarter. Pembina Pipeline accounts for approximately 1.0% of Mufg Securities Canada LTD.’s investment portfolio, making the stock its 27th biggest holding. Mufg Securities Canada LTD.’s holdings in Pembina Pipeline were worth $37,988,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. The Manufacturers Life Insurance Company purchased a new position in shares of Pembina Pipeline in the second quarter valued at $285,738,000. Canada Pension Plan Investment Board purchased a new stake in Pembina Pipeline during the 2nd quarter worth about $264,907,000. Deutsche Bank AG bought a new position in Pembina Pipeline in the 2nd quarter worth about $262,233,000. Norges Bank bought a new position in Pembina Pipeline in the 4th quarter worth about $213,701,000. Finally, Legal & General Group Plc purchased a new position in Pembina Pipeline during the 2nd quarter valued at about $199,230,000. Institutional investors own 55.37% of the company’s stock.
Pembina Pipeline Price Performance
Shares of NYSE PBA opened at $48.72 on Tuesday. The firm has a market capitalization of $28.33 billion, a P/E ratio of 23.88 and a beta of 0.57. The company has a quick ratio of 0.50, a current ratio of 0.62 and a debt-to-equity ratio of 0.78. The stock’s 50-day simple moving average is $48.64 and its two-hundred day simple moving average is $46.65. Pembina Pipeline Corp. has a twelve month low of $36.20 and a twelve month high of $51.58.
Pembina Pipeline Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be paid a $0.735 dividend. This represents a $2.94 dividend on an annualized basis and a yield of 6.0%. The ex-dividend date of this dividend is Tuesday, September 15th. Pembina Pipeline’s dividend payout ratio (DPR) is currently 104.41%.
Wall Street Analyst Weigh In
Several equities research analysts have recently weighed in on the company. Scotiabank cut Pembina Pipeline from a “sector outperform” rating to a “sector perform” rating in a research report on Monday, July 20th. Weiss Ratings lowered shares of Pembina Pipeline from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, August 18th. Royal Bank Of Canada boosted their price objective on shares of Pembina Pipeline from $64.00 to $68.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. Barclays reaffirmed an “overweight” rating on shares of Pembina Pipeline in a report on Thursday, May 21st. Finally, TD Securities reiterated a “buy” rating on shares of Pembina Pipeline in a research note on Thursday, July 16th. Five analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $64.00.
Check Out Our Latest Stock Report on Pembina Pipeline
About Pembina Pipeline
Pembina Pipeline Corporation (NYSE: PBA) is a North American energy infrastructure company that develops, owns and operates midstream assets that transport, store and process hydrocarbons. Its core business focuses on the transportation of crude oil, natural gas liquids (NGLs) and condensate, along with gas processing, fractionation, storage and related marketing services. Pembina serves producers, refiners and other energy companies by providing pipeline capacity, terminal services and midstream solutions that link upstream production to downstream markets and export facilities.
The company’s asset base is concentrated in Western Canada, including major operations in Alberta and British Columbia, and it also has operations and commercial activities that extend into the United States.
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