Russell Investments Group Ltd. Grows Holdings in Pembina Pipeline Co. (NYSE:PBA)

Russell Investments Group Ltd. lifted its position in shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 16.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 898,534 shares of the pipeline company’s stock after acquiring an additional 126,213 shares during the quarter. Russell Investments Group Ltd. owned 0.15% of Pembina Pipeline worth $33,171,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new position in Pembina Pipeline during the fourth quarter worth approximately $171,860,000. Arrowstreet Capital Limited Partnership purchased a new position in shares of Pembina Pipeline during the 4th quarter valued at approximately $73,073,000. Hillsdale Investment Management Inc. grew its stake in Pembina Pipeline by 338.7% in the 4th quarter. Hillsdale Investment Management Inc. now owns 1,289,706 shares of the pipeline company’s stock valued at $47,598,000 after acquiring an additional 995,735 shares during the period. AGF Management Ltd. increased its holdings in Pembina Pipeline by 612.7% in the 4th quarter. AGF Management Ltd. now owns 1,080,853 shares of the pipeline company’s stock worth $40,025,000 after acquiring an additional 929,206 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in Pembina Pipeline by 30.4% during the fourth quarter. Geode Capital Management LLC now owns 3,539,660 shares of the pipeline company’s stock worth $133,449,000 after acquiring an additional 824,232 shares during the period. 55.37% of the stock is currently owned by institutional investors and hedge funds.

Pembina Pipeline Price Performance

NYSE:PBA opened at $36.39 on Tuesday. The stock has a 50 day moving average price of $37.83 and a 200 day moving average price of $39.22. The stock has a market cap of $21.13 billion, a PE ratio of 15.04 and a beta of 0.89. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.51 and a current ratio of 0.65. Pembina Pipeline Co. has a one year low of $33.83 and a one year high of $43.44.

Pembina Pipeline Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were issued a dividend of $0.4783 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $1.91 annualized dividend and a dividend yield of 5.26%. Pembina Pipeline’s dividend payout ratio is presently 86.76%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on PBA shares. TD Securities initiated coverage on shares of Pembina Pipeline in a research report on Wednesday, January 15th. They issued a “buy” rating on the stock. Citigroup upgraded Pembina Pipeline from a “neutral” rating to a “buy” rating in a report on Monday, March 10th. Barclays assumed coverage on Pembina Pipeline in a report on Thursday, December 12th. They set an “overweight” rating for the company. Finally, Wells Fargo & Company lowered Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $56.50.

Pembina Pipeline 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.