Jarislowsky Fraser Ltd Acquires 91,095 Shares of Pembina Pipeline Corp. (PBA)
Jarislowsky Fraser Ltd boosted its holdings in Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 0.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 12,372,878 shares of the pipeline company’s stock after buying an additional 91,095 shares during the quarter. Pembina Pipeline Corp. accounts for about 2.6% of Jarislowsky Fraser Ltd’s investment portfolio, making the stock its 11th largest position. Jarislowsky Fraser Ltd owned approximately 2.46% of Pembina Pipeline Corp. worth $433,122,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. Pinebridge Investments L.P. acquired a new position in Pembina Pipeline Corp. in the second quarter worth approximately $146,000. Linscomb & Williams Inc. acquired a new position in Pembina Pipeline Corp. in the second quarter worth approximately $116,000. San Francisco Sentry Investment Group CA acquired a new position in Pembina Pipeline Corp. in the second quarter worth approximately $132,000. Benchmark Capital Advisors acquired a new position in Pembina Pipeline Corp. in the third quarter worth approximately $204,000. Finally, Cidel Asset Management Inc. acquired a new position in Pembina Pipeline Corp. in the third quarter worth approximately $206,000. Hedge funds and other institutional investors own 40.78% of the company’s stock.
Several research analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Pembina Pipeline Corp. from a “hold” rating to a “buy” rating and set a $39.00 price target on the stock in a research report on Friday, July 21st. AltaCorp Capital upgraded shares of Pembina Pipeline Corp. from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, July 19th. Finally, BidaskClub lowered shares of Pembina Pipeline Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $41.50.
Pembina Pipeline Corp. (NYSE:PBA) traded down $0.22 during midday trading on Monday, reaching $35.58. 123,773 shares of the company’s stock traded hands, compared to its average volume of 363,518. Pembina Pipeline Corp. has a 12-month low of $27.44 and a 12-month high of $36.29. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.60 and a current ratio of 0.78. The stock has a market cap of $17,988.28, a PE ratio of 36.16 and a beta of 0.72.
The company also recently disclosed a nov 17 dividend, which will be paid on Friday, December 15th. Shareholders of record on Saturday, November 25th will be given a dividend of $0.18 per share. This represents a yield of 4.73%. The ex-dividend date of this dividend is Wednesday, November 22nd. Pembina Pipeline Corp.’s payout ratio is 174.75%.
About Pembina Pipeline Corp.
Pembina Pipeline Corporation is an energy transportation and service provider. The Company operates through four segments. The Conventional Pipelines segment consists of the tariff-based operations of pipelines and related facilities to deliver crude oil, condensate and natural gas liquids (NGL) in Alberta, British Columbia, Saskatchewan, and North Dakota, United States.
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