M.E. Allison & CO. Inc. Buys New Shares in Pembina Pipeline Corp. $PBA

M.E. Allison & CO. Inc. bought a new stake in shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 7,450 shares of the pipeline company’s stock, valued at approximately $279,000.

A number of other large investors also recently modified their holdings of PBA. First Horizon Advisors Inc. lifted its stake in shares of Pembina Pipeline by 69.9% during the 1st quarter. First Horizon Advisors Inc. now owns 673 shares of the pipeline company’s stock valued at $27,000 after buying an additional 277 shares in the last quarter. N.E.W. Advisory Services LLC purchased a new position in shares of Pembina Pipeline during the 1st quarter valued at $27,000. Larson Financial Group LLC lifted its stake in shares of Pembina Pipeline by 53.4% during the 1st quarter. Larson Financial Group LLC now owns 1,341 shares of the pipeline company’s stock valued at $54,000 after buying an additional 467 shares in the last quarter. Ameritas Advisory Services LLC purchased a new position in shares of Pembina Pipeline during the 2nd quarter valued at $66,000. Finally, Dunhill Financial LLC lifted its stake in shares of Pembina Pipeline by 42.6% during the 1st quarter. Dunhill Financial LLC now owns 1,925 shares of the pipeline company’s stock valued at $77,000 after buying an additional 575 shares in the last quarter. Hedge funds and other institutional investors own 55.37% of the company’s stock.

Pembina Pipeline Stock Down 1.6%

Shares of NYSE PBA opened at $39.00 on Monday. The firm’s 50-day moving average price is $38.49 and its 200-day moving average price is $37.88. The company has a current ratio of 0.77, a quick ratio of 0.62 and a debt-to-equity ratio of 0.81. The stock has a market capitalization of $22.66 billion, a price-to-earnings ratio of 18.31 and a beta of 0.76. Pembina Pipeline Corp. has a 12-month low of $34.13 and a 12-month high of $43.44.

Pembina Pipeline Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 15th were given a dividend of $0.71 per share. The ex-dividend date was Monday, September 15th. This represents a $2.84 annualized dividend and a dividend yield of 7.3%. This is a positive change from Pembina Pipeline’s previous quarterly dividend of $0.51. Pembina Pipeline’s dividend payout ratio is currently 97.18%.

Wall Street Analyst Weigh In

Several brokerages have commented on PBA. Weiss Ratings reiterated a “hold (c+)” rating on shares of Pembina Pipeline in a research note on Wednesday, October 8th. Wall Street Zen cut shares of Pembina Pipeline from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. National Bankshares upgraded shares of Pembina Pipeline from a “sector perform” rating to an “outperform” rating in a research note on Thursday, June 26th. Jefferies Financial Group cut shares of Pembina Pipeline from a “buy” rating to a “hold” rating in a research note on Wednesday, July 23rd. Finally, National Bank Financial upgraded shares of Pembina Pipeline from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, June 25th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy”.

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.