Connor Clark & Lunn Investment Management Ltd. Reduces Stock Holdings in Pembina Pipeline Co. (NYSE:PBA)

Connor Clark & Lunn Investment Management Ltd. cut its position in shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 19.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,217,105 shares of the pipeline company’s stock after selling 1,523,015 shares during the period. Pembina Pipeline makes up 1.2% of Connor Clark & Lunn Investment Management Ltd.’s holdings, making the stock its 20th biggest holding. Connor Clark & Lunn Investment Management Ltd. owned 1.07% of Pembina Pipeline worth $256,247,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of PBA. Godsey & Gibb Inc. acquired a new stake in shares of Pembina Pipeline during the 3rd quarter worth approximately $25,000. Prospera Private Wealth LLC acquired a new stake in Pembina Pipeline during the third quarter worth $26,000. Blue Trust Inc. raised its position in Pembina Pipeline by 223.8% in the third quarter. Blue Trust Inc. now owns 735 shares of the pipeline company’s stock valued at $30,000 after purchasing an additional 508 shares during the period. CENTRAL TRUST Co raised its position in Pembina Pipeline by 65.0% in the third quarter. CENTRAL TRUST Co now owns 825 shares of the pipeline company’s stock valued at $34,000 after purchasing an additional 325 shares during the period. Finally, Beacon Capital Management LLC acquired a new position in shares of Pembina Pipeline in the 1st quarter valued at $37,000. 55.37% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Pembina Pipeline Stock Performance

NYSE PBA opened at $42.42 on Wednesday. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.65 and a quick ratio of 0.51. The company has a market cap of $24.62 billion, a P/E ratio of 17.53 and a beta of 1.25. The stock has a 50-day moving average of $41.80 and a two-hundred day moving average of $39.21. Pembina Pipeline Co. has a 1-year low of $32.10 and a 1-year high of $43.44.

Pembina Pipeline Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be issued a $0.69 dividend. The ex-dividend date is Monday, December 16th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 6.51%. This is a boost from Pembina Pipeline’s previous quarterly dividend of $0.50. Pembina Pipeline’s payout ratio is 84.30%.

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.