Pembina Pipeline Co. (NYSE:PBA) Shares Purchased by Franklin Resources Inc.

Franklin Resources Inc. raised its stake in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 20.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,230,638 shares of the pipeline company’s stock after acquiring an additional 206,573 shares during the quarter. Franklin Resources Inc. owned approximately 0.21% of Pembina Pipeline worth $45,410,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in PBA. Vanguard Group Inc. raised its stake in Pembina Pipeline by 3.2% in the 4th quarter. Vanguard Group Inc. now owns 24,887,077 shares of the pipeline company’s stock valued at $919,503,000 after purchasing an additional 770,729 shares during the last quarter. TD Asset Management Inc. lifted its holdings in shares of Pembina Pipeline by 5.4% during the 4th quarter. TD Asset Management Inc. now owns 6,789,722 shares of the pipeline company’s stock worth $250,732,000 after acquiring an additional 347,872 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its stake in Pembina Pipeline by 0.5% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,249,624 shares of the pipeline company’s stock worth $230,610,000 after purchasing an additional 32,519 shares during the period. Norges Bank acquired a new position in Pembina Pipeline in the fourth quarter valued at $171,860,000. Finally, JPMorgan Chase & Co. lifted its stake in shares of Pembina Pipeline by 18.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,049,470 shares of the pipeline company’s stock valued at $167,000,000 after purchasing an additional 624,958 shares in the last quarter. 55.37% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PBA has been the subject of a number of research reports. Barclays assumed coverage on shares of Pembina Pipeline in a research report on Thursday, December 12th. They set an “overweight” rating for the company. TD Securities initiated coverage on Pembina Pipeline in a research report on Wednesday, January 15th. They issued a “buy” rating for the company. Wells Fargo & Company downgraded Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Finally, Citigroup upgraded Pembina Pipeline from a “neutral” rating to a “buy” rating in a report on Monday, March 10th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $56.50.

Pembina Pipeline Stock Performance

Shares of PBA opened at $37.17 on Friday. The firm has a market cap of $21.58 billion, a price-to-earnings ratio of 15.36 and a beta of 1.26. The company has a quick ratio of 0.51, a current ratio of 0.65 and a debt-to-equity ratio of 0.79. The business’s 50 day moving average is $37.84 and its two-hundred day moving average is $39.26. Pembina Pipeline Co. has a 52-week low of $33.83 and a 52-week high of $43.44.

Pembina Pipeline Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were paid a dividend of $0.4783 per share. The ex-dividend date was Monday, March 17th. This represents a $1.91 dividend on an annualized basis and a yield of 5.15%. Pembina Pipeline’s dividend payout ratio (DPR) is 86.76%.

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.