Swiss National Bank Acquires 13,800 Shares of Pembina Pipeline Co. (NYSE:PBA)

Swiss National Bank grew its holdings in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 0.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,752,596 shares of the pipeline company’s stock after acquiring an additional 13,800 shares during the quarter. Swiss National Bank owned 0.30% of Pembina Pipeline worth $72,360,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of Pembina Pipeline by 2.1% in the first quarter. Vanguard Group Inc. now owns 22,053,531 shares of the pipeline company’s stock valued at $779,372,000 after buying an additional 460,761 shares during the period. Toronto Dominion Bank lifted its position in shares of Pembina Pipeline by 97.2% in the 2nd quarter. Toronto Dominion Bank now owns 8,938,488 shares of the pipeline company’s stock worth $331,439,000 after acquiring an additional 4,405,792 shares during the period. Canada Pension Plan Investment Board grew its holdings in shares of Pembina Pipeline by 56.9% during the 2nd quarter. Canada Pension Plan Investment Board now owns 8,387,525 shares of the pipeline company’s stock worth $311,142,000 after purchasing an additional 3,043,200 shares in the last quarter. CIBC Asset Management Inc increased its position 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 valued at $264,315,000 after purchasing an additional 481,285 shares during the period. Finally, TD Asset Management Inc raised its stake in shares of Pembina Pipeline by 0.9% in 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 in the last quarter. Institutional investors and hedge funds own 55.37% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. UBS Group assumed coverage on shares of Pembina Pipeline in a research note on Wednesday, September 11th. They set a “neutral” rating on the stock. Citigroup raised their price target on shares of Pembina Pipeline from $53.00 to $56.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 28th. Finally, Raymond James initiated coverage on Pembina Pipeline in a research note on Friday, October 11th. They issued an “outperform” rating on the stock. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $56.50.

Pembina Pipeline Stock Performance

Shares of NYSE:PBA opened at $42.42 on Wednesday. The firm’s 50 day simple moving average is $41.80 and its 200 day simple moving average is $39.21. Pembina Pipeline Co. has a fifty-two week low of $32.10 and a fifty-two week high of $43.44. The company has a market capitalization of $24.62 billion, a price-to-earnings ratio of 17.53 and a beta of 1.25. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.65 and a quick ratio of 0.51.

Pembina Pipeline Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be issued a dividend of $0.69 per share. The ex-dividend date of this dividend is Monday, December 16th. This is a positive change from Pembina Pipeline’s previous quarterly dividend of $0.50. This represents a $2.76 annualized dividend and a yield of 6.51%. Pembina Pipeline’s payout ratio is currently 84.30%.

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.