Empowered Funds LLC Has $509,000 Holdings in Pembina Pipeline Co. (NYSE:PBA)

Empowered Funds LLC grew its holdings in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 96.8% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 12,334 shares of the pipeline company’s stock after buying an additional 6,068 shares during the quarter. Empowered Funds LLC’s holdings in Pembina Pipeline were worth $509,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PBA. Godsey & Gibb Inc. acquired a new stake in shares of Pembina Pipeline in the 3rd quarter valued at $25,000. Blue Trust Inc. increased its position in Pembina Pipeline by 223.8% in the third quarter. Blue Trust Inc. now owns 735 shares of the pipeline company’s stock worth $30,000 after purchasing an additional 508 shares during the period. CENTRAL TRUST Co raised its holdings in Pembina Pipeline by 65.0% during the 3rd quarter. CENTRAL TRUST Co now owns 825 shares of the pipeline company’s stock worth $34,000 after purchasing an additional 325 shares during the last quarter. Beacon Capital Management LLC acquired a new position in Pembina Pipeline during the 1st quarter valued at about $37,000. Finally, EverSource Wealth Advisors LLC boosted its stake in Pembina Pipeline by 30.2% in the second quarter. EverSource Wealth Advisors LLC now owns 1,668 shares of the pipeline company’s stock valued at $65,000 after acquiring an additional 387 shares during the last quarter. Institutional investors and hedge funds own 55.37% of the company’s stock.

Analyst Upgrades and Downgrades

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

Pembina Pipeline Price Performance

Shares of NYSE PBA opened at $42.93 on Monday. The company has a fifty day moving average price of $41.92 and a 200 day moving average price of $39.35. Pembina Pipeline Co. has a 1-year low of $32.39 and a 1-year high of $43.44. The firm has a market cap of $24.92 billion, a PE ratio of 17.74 and a beta of 1.25. The company has a current ratio of 0.65, a quick ratio of 0.51 and a debt-to-equity ratio of 0.79.

Pembina Pipeline Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be given 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 6.43%. This is an increase from Pembina Pipeline’s previous quarterly dividend of $0.50. 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.