Pembina Pipeline (NYSE:PBA) Stock Price Up 4.8% Following Dividend Announcement

Shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) were up 4.8% during mid-day trading on Friday following a dividend announcement from the company. The company traded as high as $38.25 and last traded at $38.10. Approximately 272,499 shares traded hands during trading, a decline of 82% from the average daily volume of 1,473,579 shares. The stock had previously closed at $36.35.

The newly announced dividend which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be paid a $0.4783 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.91 annualized dividend and a dividend yield of 4.92%. Pembina Pipeline’s dividend payout ratio is presently 80.58%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PBA. TD Securities started coverage on Pembina Pipeline in a research report on Wednesday, January 15th. They set a “buy” rating on the stock. Wells Fargo & Company lowered Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Finally, Barclays began coverage on shares of Pembina Pipeline in a report on Thursday, December 12th. They issued an “overweight” rating for the company. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $56.50.

Pembina Pipeline Stock Performance

The company has a quick ratio of 0.51, a current ratio of 0.65 and a debt-to-equity ratio of 0.79. The firm has a 50-day moving average price of $36.70 and a two-hundred day moving average price of $39.39. The firm has a market cap of $22.56 billion, a PE ratio of 16.06 and a beta of 1.25.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Prospera Private Wealth LLC acquired a new stake in shares of Pembina Pipeline in the third quarter valued at about $26,000. Safe Harbor Fiduciary LLC acquired a new stake in Pembina Pipeline in the 3rd quarter valued at about $26,000. Versant Capital Management Inc purchased a new position in Pembina Pipeline in the 4th quarter worth approximately $27,000. Sound Income Strategies LLC acquired a new position in shares of Pembina Pipeline during the 4th quarter worth approximately $27,000. Finally, Dunhill Financial LLC purchased a new stake in shares of Pembina Pipeline in the third quarter valued at approximately $28,000. Hedge funds and other institutional investors own 55.37% of the company’s stock.

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.