Pembina Pipeline (NYSE:PBA) Trading 4.8% Higher After Dividend Announcement

Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) shares were up 4.8% on Friday after the company announced a dividend. The company traded as high as $38.25 and last traded at $38.10. Approximately 272,499 shares traded hands during trading, a decline of 82% from the average daily volume of 1,473,579 shares. The stock had previously closed at $36.35.

The newly announced dividend which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be paid a $0.4783 dividend. This represents a $1.91 dividend on an annualized basis and a yield of 4.92%. The ex-dividend date of this dividend is Monday, March 17th. Pembina Pipeline’s dividend payout ratio (DPR) is presently 80.58%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on PBA shares. Barclays began coverage on Pembina Pipeline in a research note on Thursday, December 12th. They set an “overweight” rating on the stock. TD Securities started coverage on shares of Pembina Pipeline in a research report on Wednesday, January 15th. They set a “buy” rating on the stock. Finally, Wells Fargo & Company cut shares of Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Pembina Pipeline currently has a consensus rating of “Hold” and an average target price of $56.50.

Pembina Pipeline Stock Performance

The firm’s fifty day simple moving average is $36.70 and its 200 day simple moving average is $39.38. The company has a market capitalization of $22.56 billion, a PE ratio of 16.06 and a beta of 1.25. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.65 and a quick ratio of 0.51.

Institutional Investors Weigh In On Pembina Pipeline

Several hedge funds have recently bought and sold shares of PBA. Vanguard Group Inc. lifted its stake in shares of Pembina Pipeline by 3.2% in the 4th quarter. Vanguard Group Inc. now owns 24,887,077 shares of the pipeline company’s stock valued at $919,503,000 after purchasing an additional 770,729 shares during the period. Deutsche Bank AG raised its position in shares of Pembina Pipeline by 3.0% in the fourth quarter. Deutsche Bank AG now owns 14,247,662 shares of the pipeline company’s stock worth $526,451,000 after acquiring an additional 413,373 shares during the period. Mackenzie Financial Corp boosted its stake in shares of Pembina Pipeline by 10.6% during the 4th quarter. Mackenzie Financial Corp now owns 13,930,847 shares of the pipeline company’s stock worth $514,154,000 after acquiring an additional 1,331,294 shares in the last quarter. TD Asset Management Inc. boosted its stake in shares of Pembina Pipeline by 5.4% during the 4th quarter. TD Asset Management Inc. now owns 6,789,722 shares of the pipeline company’s stock worth $250,732,000 after acquiring an additional 347,872 shares in the last quarter. Finally, CIBC Asset Management Inc grew its position in shares of Pembina Pipeline by 8.1% during the 3rd quarter. CIBC Asset Management Inc now owns 6,405,991 shares of the pipeline company’s stock valued at $264,315,000 after acquiring an additional 481,285 shares during the period. Hedge funds and other institutional investors own 55.37% of the company’s stock.

Pembina Pipeline Company Profile

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.