Franklin Resources Inc. Has $44.52 Million Stock Position in Pembina Pipeline Co. (NYSE:PBA)

Franklin Resources Inc. increased its stake in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 14.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,024,065 shares of the pipeline company’s stock after purchasing an additional 127,027 shares during the period. Franklin Resources Inc. owned approximately 0.18% of Pembina Pipeline worth $44,518,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Godsey & Gibb Inc. bought a new position in shares of Pembina Pipeline in the third quarter worth $25,000. Prospera Private Wealth LLC bought a new position in shares of Pembina Pipeline in the third quarter worth $26,000. Safe Harbor Fiduciary LLC bought a new position in shares of Pembina Pipeline in the third quarter worth $26,000. Dunhill Financial LLC bought a new position in shares of Pembina Pipeline in the third quarter worth $28,000. Finally, Blue Trust Inc. increased its position in shares of Pembina Pipeline by 223.8% in the third quarter. Blue Trust Inc. now owns 735 shares of the pipeline company’s stock worth $30,000 after purchasing an additional 508 shares during the period. Institutional investors own 55.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on PBA shares. Citigroup raised their price target on Pembina Pipeline from $53.00 to $56.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 28th. Raymond James initiated coverage on Pembina Pipeline in a research report on Friday, October 11th. They issued an “outperform” rating on the stock. UBS Group initiated coverage on Pembina Pipeline in a research report on Wednesday, September 11th. They issued a “neutral” rating on the stock. Finally, Barclays initiated coverage on Pembina Pipeline in a research report on Thursday, December 12th. They issued an “overweight” rating on the stock. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $56.50.

Pembina Pipeline Stock Performance

NYSE:PBA opened at $37.03 on Wednesday. The stock has a market cap of $21.49 billion, a P/E ratio of 15.30 and a beta of 1.24. The company has a current ratio of 0.65, a quick ratio of 0.51 and a debt-to-equity ratio of 0.79. The stock’s 50-day moving average is $41.36 and its 200-day moving average is $39.70. Pembina Pipeline Co. has a 1-year low of $32.81 and a 1-year high of $43.44.

Pembina Pipeline Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be issued a dividend of $0.69 per share. This is a boost from Pembina Pipeline’s previous quarterly dividend of $0.50. This represents a $2.76 annualized dividend and a dividend yield of 7.45%. The ex-dividend date of this dividend is Monday, December 16th. Pembina Pipeline’s payout ratio is 84.30%.

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.