Jennison Associates LLC Has $19.22 Million Stock Holdings in Pembina Pipeline Co. (NYSE:PBA)

Jennison Associates LLC lowered its stake in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 27.6% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 466,303 shares of the pipeline company’s stock after selling 177,965 shares during the period. Jennison Associates LLC’s holdings in Pembina Pipeline were worth $19,224,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. CENTRAL TRUST Co lifted its holdings in shares of Pembina Pipeline by 65.0% during the third quarter. CENTRAL TRUST Co now owns 825 shares of the pipeline company’s stock worth $34,000 after buying an additional 325 shares in the last quarter. Granite Group Advisors LLC raised its stake in Pembina Pipeline by 5.2% in the 1st quarter. Granite Group Advisors LLC now owns 6,719 shares of the pipeline company’s stock worth $237,000 after purchasing an additional 330 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in Pembina Pipeline by 1.8% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 18,675 shares of the pipeline company’s stock valued at $770,000 after purchasing an additional 334 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in Pembina Pipeline by 30.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,668 shares of the pipeline company’s stock valued at $65,000 after purchasing an additional 387 shares during the period. Finally, Gold Investment Management Ltd. grew its position in shares of Pembina Pipeline by 4.2% during the 3rd quarter. Gold Investment Management Ltd. now owns 11,001 shares of the pipeline company’s stock worth $453,000 after purchasing an additional 439 shares in the last quarter. Institutional investors and hedge funds own 55.37% of the company’s stock.

Pembina Pipeline Trading Down 0.6 %

Shares of PBA stock opened at $42.93 on Friday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.51 and a current ratio of 0.65. Pembina Pipeline Co. has a fifty-two week low of $32.39 and a fifty-two week high of $43.44. The company has a market cap of $24.92 billion, a PE ratio of 17.74 and a beta of 1.25. The stock’s fifty day moving average price is $41.92 and its two-hundred day moving average price is $39.31.

Pembina Pipeline Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be given a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 6.43%. The ex-dividend date is Monday, December 16th. This is a boost from Pembina Pipeline’s previous quarterly dividend of $0.50. Pembina Pipeline’s payout ratio is currently 84.30%.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Citigroup raised their price objective on Pembina Pipeline from $53.00 to $56.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 28th. UBS Group started coverage on Pembina Pipeline in a report on Wednesday, September 11th. They set a “neutral” rating on the stock. Finally, Raymond James assumed coverage on Pembina Pipeline in a research note on Friday, October 11th. They issued an “outperform” rating for the company. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Pembina Pipeline presently has a consensus rating of “Hold” and an average 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.