Tortoise Capital Advisors L.L.C. increased its stake in Pembina Pipeline Corp (NYSE:PBA) (TSE:PPL) by 1.1% during the 1st quarter, Holdings Channel reports. The fund owned 5,738,886 shares of the pipeline company’s stock after buying an additional 61,642 shares during the period. Pembina Pipeline accounts for approximately 1.3% of Tortoise Capital Advisors L.L.C.’s portfolio, making the stock its 23rd largest position. Tortoise Capital Advisors L.L.C.’s holdings in Pembina Pipeline were worth $210,816,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Phocas Financial Corp. acquired a new stake in shares of Pembina Pipeline in the fourth quarter worth approximately $28,000. Motco acquired a new position in Pembina Pipeline during the first quarter valued at approximately $28,000. Parallel Advisors LLC lifted its position in Pembina Pipeline by 350.0% during the first quarter. Parallel Advisors LLC now owns 810 shares of the pipeline company’s stock valued at $29,000 after buying an additional 630 shares in the last quarter. Bremer Trust National Association acquired a new position in Pembina Pipeline during the fourth quarter valued at approximately $32,000. Finally, Whittier Trust Co. of Nevada Inc. acquired a new position in Pembina Pipeline during the fourth quarter valued at approximately $33,000. 51.88% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:PBA traded up $0.06 during midday trading on Thursday, reaching $35.67. The company had a trading volume of 34,581 shares, compared to its average volume of 522,219. The company has a current ratio of 0.60, a quick ratio of 0.50 and a debt-to-equity ratio of 0.62. The firm has a market cap of $18.47 billion, a PE ratio of 20.18, a price-to-earnings-growth ratio of 4.22 and a beta of 0.88. Pembina Pipeline Corp has a one year low of $28.30 and a one year high of $37.93.
The business also recently declared a monthly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 24th will be paid a $0.1486 dividend. This represents a $1.78 dividend on an annualized basis and a dividend yield of 5.00%. The ex-dividend date of this dividend is Thursday, May 23rd. This is a positive change from Pembina Pipeline’s previous monthly dividend of $0.14. Pembina Pipeline’s payout ratio is 101.13%.
PBA has been the topic of a number of recent research reports. Macquarie reaffirmed a “buy” rating on shares of Pembina Pipeline in a research report on Tuesday, February 5th. Scotiabank reaffirmed a “buy” rating on shares of Pembina Pipeline in a research report on Tuesday, February 5th. Zacks Investment Research raised shares of Pembina Pipeline from a “sell” rating to a “hold” rating in a research report on Wednesday, February 13th. Finally, AltaCorp Capital reaffirmed an “outperform” rating on shares of Pembina Pipeline in a research report on Wednesday, February 13th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company’s stock. Pembina Pipeline currently has an average rating of “Buy” and an average target price of $40.00.
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Pembina Pipeline Company 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 Pipelines division operates conventional, transmission, and oil sands and heavy oil pipeline assets with a total capacity of 3 million barrels of oil serving markets and basins across North America through conventional, transmission, and oil sand pipelines assets.
Further Reading: What is the Quick Ratio?
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