Raymond James & Associates Grows Stake in Pembina Pipeline Corp (PBA)
Raymond James & Associates lifted its position in shares of Pembina Pipeline Corp (NYSE:PBA) (TSE:PPL) by 21.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 661,847 shares of the pipeline company’s stock after purchasing an additional 117,212 shares during the period. Raymond James & Associates’ holdings in Pembina Pipeline were worth $22,916,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently made changes to their positions in PBA. Tortoise Capital Advisors L.L.C. bought a new stake in Pembina Pipeline in the second quarter valued at approximately $203,334,000. NN Investment Partners Holdings N.V. boosted its holdings in Pembina Pipeline by 1,383.0% in the second quarter. NN Investment Partners Holdings N.V. now owns 3,721,470 shares of the pipeline company’s stock valued at $128,762,000 after acquiring an additional 3,470,534 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Pembina Pipeline by 105.7% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,554,569 shares of the pipeline company’s stock valued at $157,642,000 after acquiring an additional 2,340,323 shares during the last quarter. Russell Investments Group Ltd. bought a new stake in Pembina Pipeline in the first quarter valued at approximately $63,426,000. Finally, Citadel Advisors LLC boosted its holdings in Pembina Pipeline by 197.6% in the first quarter. Citadel Advisors LLC now owns 2,318,649 shares of the pipeline company’s stock valued at $72,295,000 after acquiring an additional 1,539,576 shares during the last quarter. Institutional investors and hedge funds own 47.50% of the company’s stock.
Shares of PBA stock opened at $33.06 on Friday. Pembina Pipeline Corp has a one year low of $29.28 and a one year high of $36.99. The company has a market capitalization of $16.81 billion, a P/E ratio of 24.86, a P/E/G ratio of 3.34 and a beta of 0.66. The company has a current ratio of 0.58, a quick ratio of 0.41 and a debt-to-equity ratio of 0.60.
The business also recently announced a sep 18 dividend, which will be paid on Monday, October 15th. Investors of record on Tuesday, September 25th will be issued a $0.19 dividend. This represents a yield of 5.28%. The ex-dividend date of this dividend is Monday, September 24th. Pembina Pipeline’s payout ratio is presently 131.58%.
Several analysts recently commented on the company. ValuEngine cut Pembina Pipeline from a “hold” rating to a “sell” rating in a report on Monday, July 2nd. Zacks Investment Research cut Pembina Pipeline from a “hold” rating to a “strong sell” rating in a report on Thursday, August 9th.
About Pembina Pipeline
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.
Read More: Price to Earnings Ratio (PE) Basics
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