Pembina Pipeline Co. (NYSE:PBA) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. decreased its stake in shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 19.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 6,217,105 shares of the pipeline company’s stock after selling 1,523,015 shares during the period. Pembina Pipeline accounts for approximately 1.2% of Connor Clark & Lunn Investment Management Ltd.’s portfolio, making the stock its 20th biggest position. Connor Clark & Lunn Investment Management Ltd.’s holdings in Pembina Pipeline were worth $256,247,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the stock. Prospera Private Wealth LLC purchased a new stake in shares of Pembina Pipeline during the third quarter worth approximately $26,000. Kayne Anderson Capital Advisors LP grew its holdings in Pembina Pipeline by 15.3% during the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 4,155,198 shares of the pipeline company’s stock worth $171,360,000 after acquiring an additional 550,491 shares in the last quarter. Swiss National Bank increased its position in shares of Pembina Pipeline by 0.8% in the 3rd quarter. Swiss National Bank now owns 1,752,596 shares of the pipeline company’s stock valued at $72,360,000 after purchasing an additional 13,800 shares during the last quarter. Natixis Advisors LLC lifted its position in shares of Pembina Pipeline by 19.2% during the 3rd quarter. Natixis Advisors LLC now owns 33,232 shares of the pipeline company’s stock worth $1,370,000 after purchasing an additional 5,360 shares during the last quarter. Finally, Empowered Funds LLC lifted its position in shares of Pembina Pipeline by 96.8% during the 3rd quarter. Empowered Funds LLC now owns 12,334 shares of the pipeline company’s stock worth $509,000 after purchasing an additional 6,068 shares during the last quarter. Institutional investors and hedge funds own 55.37% of the company’s stock.

Pembina Pipeline Trading Up 1.5 %

NYSE:PBA opened at $42.42 on Wednesday. The company has a quick ratio of 0.51, a current ratio of 0.65 and a debt-to-equity ratio of 0.79. Pembina Pipeline Co. has a 52-week low of $32.10 and a 52-week high of $43.44. The stock’s 50 day moving average price is $41.80 and its 200 day moving average price is $39.21. The company has a market capitalization of $24.62 billion, a PE ratio of 17.53 and a beta of 1.25.

Pembina Pipeline Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be given a $0.69 dividend. This is an increase 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 annualized dividend and a yield of 6.51%. Pembina Pipeline’s dividend payout ratio is 84.30%.

Analysts Set New Price Targets

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

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.