5,518 Shares in Pembina Pipeline Co. (NYSE:PBA) Acquired by MML Investors Services LLC

MML Investors Services LLC bought a new stake in shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 5,518 shares of the pipeline company’s stock, valued at approximately $228,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Toronto Dominion Bank raised its position in shares of Pembina Pipeline by 97.2% during 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 in the last quarter. Canada Pension Plan Investment Board increased its stake in 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 valued at $311,142,000 after acquiring an additional 3,043,200 shares during the last quarter. CIBC Asset Management Inc raised its position in Pembina Pipeline by 8.1% during 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 in the last quarter. TD Asset Management Inc lifted its stake in Pembina Pipeline by 0.9% during the second quarter. TD Asset Management Inc now owns 4,759,869 shares of the pipeline company’s stock worth $176,571,000 after purchasing an additional 44,441 shares during the last quarter. Finally, Tortoise Capital Advisors L.L.C. boosted its holdings in shares of Pembina Pipeline by 6.9% in 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 in the last quarter. Hedge funds and other institutional investors own 55.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PBA. Wells Fargo & Company cut Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Raymond James started coverage on shares of Pembina Pipeline in a research note on Friday, October 11th. They set an “outperform” rating on the stock. Barclays began coverage on shares of Pembina Pipeline in a report on Thursday, December 12th. They issued an “overweight” rating for the company. Finally, UBS Group began coverage on shares of Pembina Pipeline in a report on Wednesday, September 11th. They set a “neutral” rating on the stock. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $56.50.

Pembina Pipeline Stock Performance

NYSE:PBA opened at $36.57 on Friday. 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 fifty-two week low of $32.81 and a fifty-two week high of $43.44. The firm has a market cap of $21.23 billion, a PE ratio of 15.11 and a beta of 1.24. The business has a 50 day moving average price of $40.49 and a 200-day moving average price of $39.64.

Pembina Pipeline Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be given a dividend of $0.69 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.76 annualized dividend and a yield of 7.55%. This is a boost from Pembina Pipeline’s previous quarterly dividend of $0.50. Pembina Pipeline’s dividend payout ratio is presently 84.30%.

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.