Wellington Management Group LLP Sells 258,754 Shares of Pembina Pipeline Co. (NYSE:PBA)

Wellington Management Group LLP reduced its holdings in shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 14.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,539,163 shares of the pipeline company’s stock after selling 258,754 shares during the quarter. Wellington Management Group LLP owned 0.28% of Pembina Pipeline worth $53,251,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Massmutual Trust Co. FSB ADV grew its holdings in shares of Pembina Pipeline by 22.6% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,786 shares of the pipeline company’s stock valued at $61,000 after buying an additional 329 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Pembina Pipeline by 74.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,081 shares of the pipeline company’s stock worth $37,000 after purchasing an additional 462 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in Pembina Pipeline by 3.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 15,872 shares of the pipeline company’s stock worth $549,000 after purchasing an additional 547 shares during the last quarter. Gulf International Bank UK Ltd boosted its holdings in Pembina Pipeline by 15.9% during the fourth quarter. Gulf International Bank UK Ltd now owns 3,999 shares of the pipeline company’s stock worth $137,000 after purchasing an additional 550 shares during the last quarter. Finally, Thrive Wealth Management LLC boosted its holdings in Pembina Pipeline by 2.0% during the fourth quarter. Thrive Wealth Management LLC now owns 29,739 shares of the pipeline company’s stock worth $1,024,000 after purchasing an additional 569 shares during the last quarter. 55.37% of the stock is currently owned by institutional investors and hedge funds.

Pembina Pipeline Stock Performance

Shares of PBA stock opened at $35.94 on Friday. The firm’s 50-day simple moving average is $36.23 and its two-hundred day simple moving average is $35.08. Pembina Pipeline Co. has a 52 week low of $28.15 and a 52 week high of $37.67. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.93 and a current ratio of 1.03. The firm has a market cap of $20.84 billion, a price-to-earnings ratio of 15.63, a P/E/G ratio of 5.18 and a beta of 1.24.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last posted its quarterly earnings results on Thursday, May 9th. The pipeline company reported $0.54 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.54. Pembina Pipeline had a net margin of 21.61% and a return on equity of 13.33%. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.83 billion. As a group, equities analysts forecast that Pembina Pipeline Co. will post 2.33 earnings per share for the current year.

Pembina Pipeline Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 17th will be given a $0.501 dividend. The ex-dividend date of this dividend is Monday, June 17th. This represents a $2.00 annualized dividend and a dividend yield of 5.58%. This is a positive change from Pembina Pipeline’s previous quarterly dividend of $0.49. Pembina Pipeline’s payout ratio is 86.96%.

Analyst Ratings Changes

PBA has been the topic of several analyst reports. TheStreet upgraded shares of Pembina Pipeline from a “c” rating to a “b-” rating in a report on Thursday, February 29th. StockNews.com cut shares of Pembina Pipeline from a “buy” rating to a “hold” rating in a report on Monday, May 13th. Scotiabank cut shares of Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a report on Sunday, May 19th. Finally, CIBC lifted their price objective on shares of Pembina Pipeline from $56.00 to $57.00 and gave the stock an “outperformer” rating in a research report on Friday, April 19th. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, Pembina Pipeline has a consensus rating of “Hold” and a consensus price target of $52.00.

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.