Bridgewater Associates LP Purchases 150,847 Shares of Pembina Pipeline Corp (PBA)
Bridgewater Associates LP raised its position in Pembina Pipeline Corp (NYSE:PBA) (TSE:PPL) by 305.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 200,262 shares of the pipeline company’s stock after purchasing an additional 150,847 shares during the quarter. Bridgewater Associates LP’s holdings in Pembina Pipeline were worth $6,931,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PBA. SG Americas Securities LLC acquired a new stake in shares of Pembina Pipeline in the 2nd quarter valued at about $178,000. Cubist Systematic Strategies LLC raised its stake in shares of Pembina Pipeline by 73.9% in the 1st quarter. Cubist Systematic Strategies LLC now owns 6,085 shares of the pipeline company’s stock valued at $190,000 after purchasing an additional 2,585 shares during the period. Gideon Capital Advisors Inc. acquired a new stake in shares of Pembina Pipeline in the 1st quarter valued at about $219,000. Oppenheimer Asset Management Inc. acquired a new stake in shares of Pembina Pipeline in the 1st quarter valued at about $222,000. Finally, BB&T Securities LLC raised its stake in shares of Pembina Pipeline by 32.7% in the 1st quarter. BB&T Securities LLC now owns 7,346 shares of the pipeline company’s stock valued at $229,000 after purchasing an additional 1,810 shares during the period. 47.64% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:PBA opened at $33.41 on Wednesday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.41 and a current ratio of 0.58. The stock has a market capitalization of $17.26 billion, a P/E ratio of 25.12, a P/E/G ratio of 3.43 and a beta of 0.66. Pembina Pipeline Corp has a 52-week low of $29.28 and a 52-week high of $36.99.
The business also recently announced a monthly dividend, which will be paid on Friday, September 14th. Investors of record on Friday, August 24th will be given a $0.146 dividend. The ex-dividend date of this dividend is Thursday, August 23rd. This represents a $1.75 dividend on an annualized basis and a dividend yield of 5.24%. This is an increase from Pembina Pipeline’s previous monthly dividend of $0.13. Pembina Pipeline’s payout ratio is currently 131.58%.
Several research firms have issued reports on PBA. ValuEngine raised Pembina Pipeline from a “sell” rating to a “hold” rating in a research note on Friday, August 3rd. Zacks Investment Research downgraded Pembina Pipeline from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 9th.
Pembina Pipeline Profile
Pembina Pipeline Corporation provides transportation and midstream services for the energy industry in North America. It operates through three divisions: Pipelines, Facilities, and Marketing & New Ventures. The company operates approximately 10,000 kilometers of pipeline network that transports hydrocarbon liquids and extends across Alberta and parts of British Columbia, Saskatchewan, and North Dakota; and owns and operates the Nipisi and Mitsue pipelines, which provide transportation for producers operating in the Pelican Lake and Peace River heavy oil regions of Alberta; transports synthetic crude oil for the Syncrude project and the Horizon project to delivery points near Edmonton, Alberta; and operates Cheecham Lateral, which transports synthetic crude to oil sands producers operating southeast of Fort McMurray, Alberta.
Further Reading: What is the Book Value of a Share?
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