Point72 Asset Management L.P. Boosts Holdings in Pembina Pipeline Co. (NYSE:PBA)

Point72 Asset Management L.P. increased its position in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 114.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 536,545 shares of the pipeline company’s stock after purchasing an additional 286,267 shares during the quarter. Point72 Asset Management L.P.’s holdings in Pembina Pipeline were worth $22,121,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Toronto Dominion Bank boosted its position in Pembina Pipeline by 97.2% in the 2nd quarter. Toronto Dominion Bank now owns 8,938,488 shares of the pipeline company’s stock valued at $331,439,000 after buying an additional 4,405,792 shares during the last quarter. Canada Pension Plan Investment Board lifted its stake in shares of Pembina Pipeline by 56.9% in the second quarter. Canada Pension Plan Investment Board now owns 8,387,525 shares of the pipeline company’s stock worth $311,142,000 after acquiring an additional 3,043,200 shares in the last quarter. CIBC Asset Management Inc boosted its holdings in Pembina Pipeline by 8.1% in the third quarter. CIBC Asset Management Inc now owns 6,405,991 shares of the pipeline company’s stock valued at $264,315,000 after purchasing an additional 481,285 shares during the last quarter. TD Asset Management Inc grew its stake in Pembina Pipeline by 0.9% during the 2nd quarter. TD Asset Management Inc now owns 4,759,869 shares of the pipeline company’s stock valued at $176,571,000 after purchasing an additional 44,441 shares in the last quarter. Finally, Tortoise Capital Advisors L.L.C. increased its holdings in Pembina Pipeline by 6.9% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 4,542,997 shares of the pipeline company’s stock worth $168,512,000 after purchasing an additional 291,486 shares during the last quarter. 55.37% of the stock is owned by institutional investors and hedge funds.

Pembina Pipeline Stock Performance

NYSE:PBA opened at $40.57 on Friday. The company has a 50-day moving average of $41.93 and a 200-day moving average of $39.56. The firm has a market cap of $23.55 billion, a price-to-earnings ratio of 16.76 and a beta of 1.24. 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 Co. has a twelve month low of $32.39 and a twelve month high of $43.44.

Pembina Pipeline Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be paid a $0.69 dividend. The ex-dividend date is Monday, December 16th. This represents a $2.76 dividend on an annualized basis and a yield of 6.80%. This is a boost from Pembina Pipeline’s previous quarterly dividend of $0.50. Pembina Pipeline’s dividend payout ratio (DPR) is currently 84.30%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. 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. UBS Group assumed coverage on shares of Pembina Pipeline in a report on Wednesday, September 11th. They set a “neutral” rating for the company. Finally, Citigroup upped their target price on shares of Pembina Pipeline from $53.00 to $56.00 and gave the company a “neutral” rating in a research note on Wednesday, August 28th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price 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.