Pembina Pipeline Co. (NYSE:PBA) Shares Acquired by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lifted its position in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 1.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,675 shares of the pipeline company’s stock after acquiring an additional 334 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Pembina Pipeline were worth $770,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Godsey & Gibb Inc. purchased a new position in Pembina Pipeline in the 3rd quarter worth $25,000. Blue Trust Inc. raised its stake in Pembina Pipeline by 223.8% in the 3rd quarter. Blue Trust Inc. now owns 735 shares of the pipeline company’s stock worth $30,000 after acquiring an additional 508 shares during the last quarter. CENTRAL TRUST Co raised its stake in Pembina Pipeline by 65.0% in the 3rd quarter. CENTRAL TRUST Co now owns 825 shares of the pipeline company’s stock worth $34,000 after acquiring an additional 325 shares during the last quarter. Beacon Capital Management LLC purchased a new position in shares of Pembina Pipeline during the 1st quarter valued at about $37,000. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Pembina Pipeline by 30.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,668 shares of the pipeline company’s stock valued at $65,000 after buying an additional 387 shares during the last quarter. Hedge funds and other institutional investors own 55.37% of the company’s stock.

Pembina Pipeline Price Performance

Shares of Pembina Pipeline stock opened at $41.82 on Tuesday. The company has a quick ratio of 0.51, a current ratio of 0.65 and a debt-to-equity ratio of 0.79. Pembina Pipeline Co. has a twelve month low of $32.10 and a twelve month high of $43.44. The business has a 50-day moving average price of $41.76 and a 200 day moving average price of $39.16. The firm has a market cap of $24.27 billion, a PE ratio of 17.28 and a beta of 1.25.

Pembina Pipeline Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be issued a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 6.60%. This is a boost from Pembina Pipeline’s previous quarterly dividend of $0.50. The ex-dividend date is Monday, December 16th. Pembina Pipeline’s payout ratio is presently 84.30%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Raymond James assumed coverage on Pembina Pipeline in a research note on Friday, October 11th. They set an “outperform” rating for the company. UBS Group assumed coverage on Pembina Pipeline in a research note on Wednesday, September 11th. They set a “neutral” rating for the company. Finally, Citigroup lifted their price objective on Pembina Pipeline from $53.00 to $56.00 and gave the company a “neutral” rating in a research note on Wednesday, August 28th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $56.50.

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.