Allianz Asset Management GmbH Decreases Stock Position in Pembina Pipeline Corp. $PBA

Allianz Asset Management GmbH reduced its position in Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 19.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 65,693 shares of the pipeline company’s stock after selling 15,896 shares during the quarter. Allianz Asset Management GmbH’s holdings in Pembina Pipeline were worth $2,462,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Pembina Pipeline by 1.6% in the first quarter. Vanguard Group Inc. now owns 25,296,456 shares of the pipeline company’s stock worth $1,011,833,000 after acquiring an additional 409,379 shares during the period. TD Asset Management Inc boosted its holdings in shares of Pembina Pipeline by 5.0% in the second quarter. TD Asset Management Inc now owns 7,298,690 shares of the pipeline company’s stock worth $273,494,000 after acquiring an additional 347,854 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Pembina Pipeline by 78.1% in the first quarter. Goldman Sachs Group Inc. now owns 7,088,945 shares of the pipeline company’s stock worth $283,770,000 after acquiring an additional 3,108,920 shares during the period. Scotia Capital Inc. boosted its holdings in shares of Pembina Pipeline by 5.2% in the first quarter. Scotia Capital Inc. now owns 5,230,781 shares of the pipeline company’s stock worth $208,856,000 after acquiring an additional 260,804 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Pembina Pipeline by 136.7% in the first quarter. The Manufacturers Life Insurance Company now owns 3,995,460 shares of the pipeline company’s stock worth $160,681,000 after acquiring an additional 2,307,634 shares during the period. 55.37% of the stock is owned by hedge funds and other institutional investors.

Pembina Pipeline Price Performance

NYSE:PBA opened at $38.02 on Friday. The firm has a market capitalization of $22.09 billion, a price-to-earnings ratio of 17.85 and a beta of 0.76. Pembina Pipeline Corp. has a 52-week low of $34.13 and a 52-week high of $43.44. The stock has a fifty day moving average of $38.84 and a 200 day moving average of $37.85. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.62 and a current ratio of 0.77.

Pembina Pipeline Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Monday, September 15th were paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 7.5%. This is an increase from Pembina Pipeline’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend was Monday, September 15th. Pembina Pipeline’s dividend payout ratio is presently 97.18%.

Analyst Ratings Changes

PBA has been the subject of a number of analyst reports. Wall Street Zen lowered Pembina Pipeline from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Raymond James Financial reaffirmed an “outperform” rating on shares of Pembina Pipeline in a report on Monday, August 11th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Pembina Pipeline in a report on Wednesday, October 8th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Pembina Pipeline in a report on Monday, August 11th. Finally, Wells Fargo & Company lowered Pembina Pipeline from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Pembina Pipeline has a consensus rating of “Moderate Buy”.

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.