Citadel Advisors LLC Increases Stake in Pembina Pipeline Corp (PBA)
Citadel Advisors LLC grew its position in Pembina Pipeline Corp (NYSE:PBA) (TSE:PPL) by 135.3% in the third quarter, according to its most recent filing with the SEC. The fund owned 116,429 shares of the pipeline company’s stock after acquiring an additional 66,946 shares during the period. Citadel Advisors LLC’s holdings in Pembina Pipeline were worth $4,088,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently made changes to their positions in PBA. CIBC Asset Management Inc raised its position in Pembina Pipeline by 64.6% during the 3rd quarter. CIBC Asset Management Inc now owns 7,100,744 shares of the pipeline company’s stock worth $248,486,000 after purchasing an additional 2,787,001 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Pembina Pipeline by 133.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,121,883 shares of the pipeline company’s stock worth $103,718,000 after purchasing an additional 1,784,451 shares during the last quarter. Duff & Phelps Investment Management Co. bought a new position in Pembina Pipeline during the 3rd quarter worth $41,290,000. Kayne Anderson Capital Advisors LP raised its position in Pembina Pipeline by 199.6% during the 2nd quarter. Kayne Anderson Capital Advisors LP now owns 1,737,700 shares of the pipeline company’s stock worth $57,545,000 after purchasing an additional 1,157,700 shares during the last quarter. Finally, Jennison Associates LLC raised its position in Pembina Pipeline by 502.2% during the 2nd quarter. Jennison Associates LLC now owns 1,271,009 shares of the pipeline company’s stock worth $42,096,000 after purchasing an additional 1,059,961 shares during the last quarter. Institutional investors own 42.46% of the company’s stock.
Pembina Pipeline Corp (NYSE PBA) traded up $0.27 during mid-day trading on Friday, hitting $35.13. The stock had a trading volume of 745,765 shares, compared to its average volume of 576,261. Pembina Pipeline Corp has a 1 year low of $29.36 and a 1 year 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 company has a market cap of $17,515.96, a price-to-earnings ratio of 35.21 and a beta of 0.73.
The company also recently announced a nov 17 dividend, which will be paid on Friday, December 15th. Stockholders of record on Saturday, November 25th will be paid a $0.18 dividend. The ex-dividend date is Wednesday, November 22nd. This represents a dividend yield of 4.73%. Pembina Pipeline’s dividend payout ratio is presently 171.72%.
Several research analysts have recently weighed in on PBA shares. Zacks Investment Research lowered Pembina Pipeline from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. BidaskClub lowered Pembina Pipeline from a “sell” rating to a “strong sell” rating in a research report on Monday, August 14th. Finally, Macquarie lowered Pembina Pipeline from an “outperform” rating to a “neutral” rating in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $41.50.
TRADEMARK VIOLATION WARNING: “Citadel Advisors LLC Increases Stake in Pembina Pipeline Corp (PBA)” was originally posted by Daily Political and is the sole property of of Daily Political. If you are accessing this report on another domain, it was illegally stolen and reposted in violation of US & international trademark & copyright law. The correct version of this report can be accessed at https://www.dailypolitical.com/2017/12/02/citadel-advisors-llc-increases-stake-in-pembina-pipeline-corp-pba.html.
Pembina Pipeline Company Profile
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.
Want to see what other hedge funds are holding PBA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pembina Pipeline Corp (NYSE:PBA) (TSE:PPL).
Receive News & Ratings for Pembina Pipeline Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pembina Pipeline Corp and related companies with MarketBeat.com's FREE daily email newsletter.