Geode Capital Management LLC Grows Stock Position in Pembina Pipeline Co. (NYSE:PBA)

Geode Capital Management LLC boosted its position in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 10.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,715,428 shares of the pipeline company’s stock after buying an additional 251,982 shares during the period. Geode Capital Management LLC owned approximately 0.47% of Pembina Pipeline worth $113,531,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Godsey & Gibb Inc. acquired a new stake in shares of Pembina Pipeline in the 3rd quarter worth $25,000. Safe Harbor Fiduciary LLC purchased a new position in Pembina Pipeline during the third quarter worth about $26,000. Prospera Private Wealth LLC acquired a new stake in Pembina Pipeline in the third quarter valued at about $26,000. Dunhill Financial LLC acquired a new stake in Pembina Pipeline in the third quarter valued at about $28,000. Finally, Blue Trust Inc. boosted its holdings in Pembina Pipeline by 223.8% in the 3rd quarter. Blue Trust Inc. now owns 735 shares of the pipeline company’s stock valued at $30,000 after purchasing an additional 508 shares in the last quarter. 55.37% of the stock is owned by institutional investors and hedge funds.

Pembina Pipeline Stock Down 0.9 %

PBA opened at $37.03 on Wednesday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.51 and a current ratio of 0.65. The company has a market cap of $21.49 billion, a price-to-earnings ratio of 15.30 and a beta of 1.24. Pembina Pipeline Co. has a one year low of $32.81 and a one year high of $43.44. The business’s fifty day moving average is $41.36 and its two-hundred day moving average is $39.70.

Pembina Pipeline Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be given a $0.69 dividend. The ex-dividend date 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 dividend yield of 7.45%. Pembina Pipeline’s payout ratio is currently 84.30%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Citigroup increased their target price on Pembina Pipeline from $53.00 to $56.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 28th. Barclays assumed coverage on Pembina Pipeline in a report on Thursday, December 12th. They issued an “overweight” rating for the company. Raymond James assumed coverage on shares of Pembina Pipeline in a research note on Friday, October 11th. They set an “outperform” rating on the stock. Finally, UBS Group began coverage on shares of Pembina Pipeline in a report on Wednesday, September 11th. They issued a “neutral” rating for the company. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $56.50.

Pembina Pipeline Company 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.