Lord Abbett & CO. LLC Sells 160,507 Shares of Pembina Pipeline Co. (NYSE:PBA)

Lord Abbett & CO. LLC lessened its holdings in shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 47.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 179,707 shares of the pipeline company’s stock after selling 160,507 shares during the quarter. Lord Abbett & CO. LLC’s holdings in Pembina Pipeline were worth $7,408,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. PDT Partners LLC purchased a new stake in Pembina Pipeline during the 3rd quarter valued at approximately $1,329,000. Sequoia Financial Advisors LLC grew its stake in Pembina Pipeline by 7.2% during the third quarter. Sequoia Financial Advisors LLC now owns 12,767 shares of the pipeline company’s stock valued at $527,000 after acquiring an additional 860 shares in the last quarter. Triasima Portfolio Management inc. increased its holdings in Pembina Pipeline by 49.2% in the 2nd quarter. Triasima Portfolio Management inc. now owns 784,516 shares of the pipeline company’s stock valued at $29,095,000 after acquiring an additional 258,575 shares during the last quarter. FMR LLC lifted its stake in Pembina Pipeline by 1,396.8% in the 3rd quarter. FMR LLC now owns 547,448 shares of the pipeline company’s stock worth $22,573,000 after purchasing an additional 510,873 shares in the last quarter. Finally, Fiera Capital Corp lifted its stake in Pembina Pipeline by 15.5% in the 3rd quarter. Fiera Capital Corp now owns 1,196,390 shares of the pipeline company’s stock worth $49,381,000 after purchasing an additional 160,946 shares in the last quarter. Institutional investors own 55.37% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Barclays assumed coverage on Pembina Pipeline in a report on Thursday, December 12th. They issued an “overweight” rating on the stock. Raymond James began coverage on Pembina Pipeline in a research note on Friday, October 11th. They issued an “outperform” rating on the stock. Citigroup increased their target price on Pembina Pipeline from $53.00 to $56.00 and gave the company a “neutral” rating in a research report on Wednesday, August 28th. Finally, UBS Group initiated coverage on shares of Pembina Pipeline in a research report on Wednesday, September 11th. They issued a “neutral” 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.com, Pembina Pipeline currently has a consensus rating of “Hold” and a consensus price target of $56.50.

Pembina Pipeline Trading Down 1.3 %

PBA opened at $37.37 on Tuesday. Pembina Pipeline Co. has a 12 month low of $32.81 and a 12 month high of $43.44. 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 has a 50-day moving average of $41.46 and a 200 day moving average of $39.70. The firm has a market cap of $21.69 billion, a P/E ratio of 15.44 and a beta of 1.24.

Pembina Pipeline Increases Dividend

The business 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. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.76 annualized dividend and a dividend yield of 7.39%. This is an increase from Pembina Pipeline’s previous quarterly dividend of $0.50. Pembina Pipeline’s payout ratio is currently 84.30%.

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.