PDT Partners LLC Makes New Investment in Pembina Pipeline Co. (NYSE:PBA)

PDT Partners LLC bought a new stake in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) during the third quarter, Holdings Channel reports. The institutional investor bought 32,220 shares of the pipeline company’s stock, valued at approximately $1,329,000.

A number of other hedge funds have also made changes to their positions in PBA. Toronto Dominion Bank increased its stake 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 period. Canada Pension Plan Investment Board increased 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 during the last quarter. CIBC Asset Management Inc raised its holdings in shares of 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 worth $264,315,000 after acquiring an additional 481,285 shares in the last quarter. TD Asset Management Inc boosted its position 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 valued at $176,571,000 after purchasing an additional 44,441 shares during the last quarter. Finally, Tortoise Capital Advisors L.L.C. grew its stake in Pembina Pipeline by 6.9% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 4,542,997 shares of the pipeline company’s stock valued at $168,512,000 after purchasing an additional 291,486 shares in the last quarter. 55.37% of the stock is owned by hedge funds and other institutional investors.

Pembina Pipeline Trading Up 0.4 %

NYSE:PBA opened at $41.37 on Monday. The company’s 50 day moving average is $42.00 and its 200-day moving average is $39.50. 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 12 month low of $32.39 and a 12 month high of $43.44. The firm has a market cap of $24.02 billion, a price-to-earnings ratio of 17.10 and a beta of 1.25.

Pembina Pipeline Increases Dividend

The company also recently announced 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. This is a positive change from Pembina Pipeline’s previous quarterly dividend of $0.50. The ex-dividend date is Monday, December 16th. This represents a $2.76 dividend on an annualized basis and a yield of 6.67%. Pembina Pipeline’s payout ratio is currently 84.30%.

Analyst Ratings Changes

Several brokerages have recently issued reports on PBA. UBS Group initiated coverage on Pembina Pipeline in a report on Wednesday, September 11th. They set a “neutral” rating for the company. Raymond James began coverage on shares of Pembina Pipeline in a research report on Friday, October 11th. They issued an “outperform” rating for the company. Finally, Citigroup raised their price target on shares of Pembina Pipeline from $53.00 to $56.00 and gave the company a “neutral” rating in a report on Wednesday, August 28th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average 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.