Arrowstreet Capital Limited Partnership Makes New Investment in Pembina Pipeline Co. (NYSE:PBA)

Arrowstreet Capital Limited Partnership bought a new position in shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 1,979,669 shares of the pipeline company’s stock, valued at approximately $73,073,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Pictet Asset Management Holding SA lifted its stake in shares of Pembina Pipeline by 1.2% in the fourth quarter. Pictet Asset Management Holding SA now owns 269,138 shares of the pipeline company’s stock valued at $9,939,000 after purchasing an additional 3,127 shares during the period. Norges Bank purchased a new stake in shares of Pembina Pipeline during the 4th quarter worth approximately $171,860,000. Korea Investment CORP grew its holdings in shares of Pembina Pipeline by 32.7% in the 4th quarter. Korea Investment CORP now owns 440,818 shares of the pipeline company’s stock worth $16,279,000 after acquiring an additional 108,529 shares during the period. TD Asset Management Inc. increased its stake in Pembina Pipeline by 5.4% in the 4th quarter. TD Asset Management Inc. now owns 6,789,722 shares of the pipeline company’s stock valued at $250,732,000 after purchasing an additional 347,872 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in Pembina Pipeline by 3.2% during the fourth quarter. Vanguard Group Inc. now owns 24,887,077 shares of the pipeline company’s stock worth $919,503,000 after purchasing an additional 770,729 shares during the last quarter. 55.37% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PBA. Wells Fargo & Company lowered Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Citigroup upgraded shares of Pembina Pipeline from a “neutral” rating to a “buy” rating in a report on Monday, March 10th. TD Securities initiated coverage on shares of Pembina Pipeline in a report on Wednesday, January 15th. They issued a “buy” rating on the stock. Finally, Barclays began coverage on shares of Pembina Pipeline in a research note on Thursday, December 12th. They set an “overweight” rating for the company. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $56.50.

Pembina Pipeline Stock Performance

Shares of NYSE PBA opened at $40.00 on Tuesday. The company has a 50-day simple moving average of $37.65 and a 200-day simple moving average of $39.28. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.65 and a quick ratio of 0.51. The company has a market cap of $23.23 billion, a PE ratio of 16.53 and a beta of 1.26. Pembina Pipeline Co. has a 12 month low of $33.83 and a 12 month high of $43.44.

Pembina Pipeline Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were paid a $0.4783 dividend. The ex-dividend date was Monday, March 17th. This represents a $1.91 annualized dividend and a yield of 4.78%. Pembina Pipeline’s payout ratio is currently 86.76%.

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.