Assenagon Asset Management S.A. Sells 920 Shares of Pembina Pipeline Co. (NYSE:PBA)

Assenagon Asset Management S.A. cut its holdings in shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 3.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,777 shares of the pipeline company’s stock after selling 920 shares during the period. Assenagon Asset Management S.A.’s holdings in Pembina Pipeline were worth $878,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. CIBC Asset Management Inc boosted its stake in Pembina Pipeline by 8.1% in the third quarter. CIBC Asset Management Inc now owns 6,405,991 shares of the pipeline company’s stock worth $264,315,000 after purchasing an additional 481,285 shares in the last quarter. Kayne Anderson Capital Advisors LP lifted its position 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 buying an additional 550,491 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Pembina Pipeline by 18.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,049,470 shares of the pipeline company’s stock worth $167,000,000 after acquiring an additional 624,958 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Pembina Pipeline by 71.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 3,163,711 shares of the pipeline company’s stock valued at $130,501,000 after acquiring an additional 1,319,709 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Pembina Pipeline by 10.2% in the third quarter. Geode Capital Management LLC now owns 2,715,428 shares of the pipeline company’s stock worth $113,531,000 after acquiring an additional 251,982 shares during the last quarter. 55.37% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PBA has been the topic of several research analyst reports. TD Securities began coverage on shares of Pembina Pipeline in a research note on Wednesday, January 15th. They set a “buy” rating on the stock. Barclays initiated coverage on Pembina Pipeline in a research note on Thursday, December 12th. They issued an “overweight” rating for the company. Wells Fargo & Company lowered Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Finally, Raymond James assumed coverage on Pembina Pipeline in a research report on Friday, October 11th. They issued an “outperform” rating for the company. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Pembina Pipeline has an average rating of “Hold” and an average price target of $56.50.

Pembina Pipeline Stock Performance

PBA stock opened at $37.07 on Friday. Pembina Pipeline Co. has a twelve month low of $32.81 and a twelve month high of $43.44. The company has a quick ratio of 0.51, a current ratio of 0.65 and a debt-to-equity ratio of 0.79. The company has a market cap of $21.52 billion, a P/E ratio of 15.32 and a beta of 1.25. The business’s fifty day moving average is $38.48 and its 200-day moving average is $39.65.

Pembina Pipeline Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were paid a $0.69 dividend. This is a positive change from Pembina Pipeline’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.76 annualized dividend and a yield of 7.44%. Pembina Pipeline’s dividend payout ratio is presently 80.58%.

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.