Larson Financial Group LLC Grows Stock Position in Pembina Pipeline Co. (NYSE:PBA)

Larson Financial Group LLC lifted its holdings in shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 67.6% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 1,341 shares of the pipeline company’s stock after acquiring an additional 541 shares during the period. Larson Financial Group LLC’s holdings in Pembina Pipeline were worth $55,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of PBA. Godsey & Gibb Inc. purchased a new stake in Pembina Pipeline during the 3rd quarter worth approximately $25,000. Prospera Private Wealth LLC purchased a new position in shares of Pembina Pipeline in the third quarter worth $26,000. Blue Trust Inc. lifted its stake in shares of Pembina Pipeline by 223.8% during the third quarter. Blue Trust Inc. now owns 735 shares of the pipeline company’s stock worth $30,000 after buying an additional 508 shares during the period. CENTRAL TRUST Co grew its holdings in shares of Pembina Pipeline by 65.0% during the third quarter. CENTRAL TRUST Co now owns 825 shares of the pipeline company’s stock valued at $34,000 after buying an additional 325 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of Pembina Pipeline by 30.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,668 shares of the pipeline company’s stock valued at $65,000 after acquiring an additional 387 shares during the period. Institutional investors and hedge funds own 55.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Raymond James assumed coverage on Pembina Pipeline in a research note on Friday, October 11th. They set an “outperform” rating on the stock. UBS Group began coverage on Pembina Pipeline in a research report on Wednesday, September 11th. They issued a “neutral” rating on the stock. Finally, 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 report on Wednesday, August 28th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $56.50.

Pembina Pipeline Stock Performance

Shares of PBA stock opened at $41.44 on Friday. The stock has a market cap of $24.06 billion, a PE ratio of 17.12 and a beta of 1.25. Pembina Pipeline Co. has a 52-week low of $32.39 and a 52-week high of $43.44. The business has a 50-day simple moving average of $42.00 and a 200-day simple moving average of $39.47. The company has a quick ratio of 0.51, a current ratio of 0.65 and a debt-to-equity ratio of 0.79.

Pembina Pipeline Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be paid a dividend of $0.69 per share. This is a boost from Pembina Pipeline’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 6.66%. Pembina Pipeline’s dividend payout ratio (DPR) is presently 84.30%.

Pembina Pipeline Profile

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.