Metis Global Partners LLC Buys 6,274 Shares of Pembina Pipeline Co. (NYSE:PBA)

Metis Global Partners LLC lifted its position in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 12.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 54,841 shares of the pipeline company’s stock after purchasing an additional 6,274 shares during the period. Metis Global Partners LLC’s holdings in Pembina Pipeline were worth $2,261,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Oppenheimer & Co. Inc. bought a new stake in Pembina Pipeline in the third quarter valued at $284,000. Oppenheimer Asset Management Inc. raised its position in shares of Pembina Pipeline by 1.8% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 18,675 shares of the pipeline company’s stock worth $770,000 after purchasing an additional 334 shares during the last quarter. Cumberland Partners Ltd increased its position in shares of Pembina Pipeline by 1.6% during the third quarter. Cumberland Partners Ltd now owns 95,847 shares of the pipeline company’s stock valued at $3,955,000 after acquiring an additional 1,464 shares in the last quarter. Entropy Technologies LP bought a new position in shares of Pembina Pipeline during the third quarter valued at $961,000. Finally, Fiera Capital Corp boosted its position in shares of Pembina Pipeline by 15.5% during the third quarter. Fiera Capital Corp now owns 1,196,390 shares of the pipeline company’s stock valued at $49,381,000 after buying an additional 160,946 shares during the last quarter. 55.37% of the stock is owned by hedge funds and other institutional investors.

Pembina Pipeline Stock Performance

PBA opened at $41.64 on Friday. Pembina Pipeline Co. has a 12-month low of $31.51 and a 12-month high of $43.44. The firm has a market capitalization of $24.17 billion, a PE ratio of 17.17 and a beta of 1.25. The firm has a 50 day moving average of $41.72 and a two-hundred day moving average of $39.02. The company has a current ratio of 0.65, a quick ratio of 0.51 and a debt-to-equity ratio of 0.79.

Pembina Pipeline Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given a dividend of $0.69 per share. This is a positive change 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 6.63%. Pembina Pipeline’s dividend payout ratio (DPR) is 84.30%.

Analyst Upgrades and Downgrades

PBA has been the topic of a number of research reports. UBS Group assumed coverage on Pembina Pipeline in a research note on Wednesday, September 11th. They issued a “neutral” rating on the stock. Raymond James initiated coverage on Pembina Pipeline in a research note on Friday, October 11th. They issued an “outperform” rating for the company. Finally, Citigroup lifted their target price on Pembina Pipeline from $53.00 to $56.00 and gave the stock a “neutral” rating in a report on Wednesday, August 28th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $56.50.

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.