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

Jennison Associates LLC decreased its position in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 27.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 466,303 shares of the pipeline company’s stock after selling 177,965 shares during the quarter. Jennison Associates LLC owned 0.08% of Pembina Pipeline worth $19,224,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of PBA. Prospera Private Wealth LLC bought a new position in shares of Pembina Pipeline during the third quarter worth about $26,000. Kayne Anderson Capital Advisors LP grew its stake in shares of 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 raised its holdings in shares of Pembina Pipeline by 0.8% in the third 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 raised its holdings in shares of Pembina Pipeline by 19.2% in the third quarter. Natixis Advisors LLC now owns 33,232 shares of the pipeline company’s stock valued at $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% in the third 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 in the last quarter. 55.37% of the stock is currently owned by institutional investors.

Pembina Pipeline Trading Down 0.6 %

Shares of NYSE:PBA opened at $42.93 on Friday. Pembina Pipeline Co. has a 52-week low of $32.39 and a 52-week high of $43.44. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.51 and a current ratio of 0.65. The company has a market capitalization of $24.92 billion, a P/E ratio of 17.74 and a beta of 1.25. The company has a 50-day simple moving average of $41.92 and a 200 day simple moving average of $39.31.

Pembina Pipeline Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders 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 dividend yield of 6.43%. This is a boost from Pembina Pipeline’s previous quarterly dividend of $0.50. The ex-dividend date is Monday, December 16th. Pembina Pipeline’s dividend payout ratio (DPR) is presently 84.30%.

Wall Street Analyst Weigh In

PBA has been the topic of several recent research reports. 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. Citigroup lifted 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, Raymond James assumed coverage on Pembina Pipeline in a research report on Friday, October 11th. They set an “outperform” rating for the company. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $56.50.

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.