Pembina Pipeline Co. (NYSE:PBA) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. decreased its position in shares of Pembina Pipeline Co. (NYSE:PBA - Free Report) TSE: PPL by 41.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 40,805 shares of the pipeline company's stock after selling 29,438 shares during the period. Alliancebernstein L.P.'s holdings in Pembina Pipeline were worth $1,508,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Van ECK Associates Corp raised its holdings in Pembina Pipeline by 8.0% in the fourth quarter. Van ECK Associates Corp now owns 225,684 shares of the pipeline company's stock worth $8,335,000 after purchasing an additional 16,762 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Pembina Pipeline by 18.2% in the third quarter. JPMorgan Chase & Co. now owns 4,049,470 shares of the pipeline company's stock worth $167,000,000 after purchasing an additional 624,958 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in Pembina Pipeline by 1.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 22,903 shares of the pipeline company's stock worth $846,000 after purchasing an additional 348 shares during the last quarter. Jennison Associates LLC boosted its position in Pembina Pipeline by 32.3% in the fourth quarter. Jennison Associates LLC now owns 616,992 shares of the pipeline company's stock worth $22,786,000 after purchasing an additional 150,689 shares during the last quarter. Finally, Korea Investment CORP grew its stake in shares of Pembina Pipeline by 32.7% during the 4th quarter. Korea Investment CORP now owns 440,818 shares of the pipeline company's stock valued at $16,279,000 after acquiring an additional 108,529 shares during the period. Institutional investors own 55.37% of the company's stock.

Pembina Pipeline Stock Performance

Shares of PBA stock traded down $0.47 during midday trading on Wednesday, hitting $37.81. The company had a trading volume of 117,055 shares, compared to its average volume of 1,266,168. Pembina Pipeline Co. has a 52-week low of $34.13 and a 52-week high of $43.44. 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's 50 day simple moving average is $37.89 and its 200 day simple moving average is $38.82. The stock has a market cap of $21.95 billion, a price-to-earnings ratio of 15.62 and a beta of 0.89.

Pembina Pipeline Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were given a dividend of $0.4783 per share. This represents a $1.91 annualized dividend and a yield of 5.06%. The ex-dividend date was Monday, March 17th. Pembina Pipeline's dividend payout ratio (DPR) is 86.76%.

Wall Street Analysts Forecast Growth

PBA has been the subject of a number of analyst reports. Citigroup raised shares of Pembina Pipeline from a "neutral" rating to a "buy" rating in a research note on Monday, March 10th. TD Securities began coverage on shares of Pembina Pipeline in a report on Wednesday, January 15th. They issued a "buy" rating for the company. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Pembina Pipeline currently has an average rating of "Moderate Buy" and an average target price of $56.00.

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.