Connor Clark & Lunn Investment Management Ltd. Buys 32,519 Shares of Pembina Pipeline Co. (NYSE:PBA)

Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Pembina Pipeline Co. (NYSE:PBA - Free Report) TSE: PPL by 0.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 6,249,624 shares of the pipeline company's stock after acquiring an additional 32,519 shares during the period. Pembina Pipeline makes up about 1.0% of Connor Clark & Lunn Investment Management Ltd.'s investment portfolio, making the stock its 23rd biggest position. Connor Clark & Lunn Investment Management Ltd. owned 1.08% of Pembina Pipeline worth $230,610,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Sequoia Financial Advisors LLC grew its position in Pembina Pipeline by 11.3% in the fourth quarter. Sequoia Financial Advisors LLC now owns 14,206 shares of the pipeline company's stock valued at $525,000 after acquiring an additional 1,439 shares during the period. HighTower Advisors LLC boosted its stake in shares of Pembina Pipeline by 18.0% in the 4th quarter. HighTower Advisors LLC now owns 28,813 shares of the pipeline company's stock valued at $1,065,000 after purchasing an additional 4,385 shares in the last quarter. AGF Management Ltd. grew its holdings in shares of Pembina Pipeline by 612.7% in the 4th quarter. AGF Management Ltd. now owns 1,080,853 shares of the pipeline company's stock worth $40,025,000 after purchasing an additional 929,206 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Pembina Pipeline by 2.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 140,443 shares of the pipeline company's stock valued at $5,186,000 after purchasing an additional 3,655 shares during the last quarter. Finally, Amundi boosted its position in Pembina Pipeline by 1.7% in the fourth quarter. Amundi now owns 2,623,945 shares of the pipeline company's stock valued at $97,007,000 after buying an additional 44,036 shares in the last quarter. Institutional investors own 55.37% of the company's stock.

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Pembina Pipeline Stock Down 0.5 %

Shares of PBA stock traded down $0.19 during trading hours on Thursday, hitting $38.54. 849,281 shares of the company were exchanged, compared to its average volume of 1,103,435. Pembina Pipeline Co. has a 52 week low of $33.83 and a 52 week high of $43.44. The company has a current ratio of 0.65, a quick ratio of 0.51 and a debt-to-equity ratio of 0.79. The business has a 50 day moving average of $36.96 and a two-hundred day moving average of $39.35. The company has a market capitalization of $22.37 billion, a PE ratio of 15.92 and a beta of 1.26.

Pembina Pipeline Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be paid a $0.4783 dividend. This represents a $1.91 annualized dividend and a dividend yield of 4.96%. The ex-dividend date of this dividend is Monday, March 17th. Pembina Pipeline's dividend payout ratio is 86.76%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PBA. Barclays began coverage on Pembina Pipeline in a research report on Thursday, December 12th. They set an "overweight" rating on the stock. Wells Fargo & Company downgraded shares of Pembina Pipeline from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, December 18th. Citigroup upgraded shares of Pembina Pipeline from a "neutral" rating to a "buy" rating in a research report on Monday. Finally, TD Securities began coverage on Pembina Pipeline in a research note on Wednesday, January 15th. They set a "buy" rating for the company. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Pembina Pipeline currently has a consensus rating of "Moderate Buy" and an average target price of $56.50.

Pembina Pipeline Company 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.