Connor Clark & Lunn Investment Management Ltd. Sells 1,523,015 Shares of Pembina Pipeline Co. (NYSE:PBA)

Connor Clark & Lunn Investment Management Ltd. cut its holdings in Pembina Pipeline Co. (NYSE:PBA - Free Report) TSE: PPL by 19.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,217,105 shares of the pipeline company's stock after selling 1,523,015 shares during the quarter. Pembina Pipeline makes up approximately 1.2% of Connor Clark & Lunn Investment Management Ltd.'s portfolio, making the stock its 20th largest holding. Connor Clark & Lunn Investment Management Ltd. owned 1.07% of Pembina Pipeline worth $256,247,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. CENTRAL TRUST Co boosted its position in shares of Pembina Pipeline by 65.0% during the 3rd quarter. CENTRAL TRUST Co now owns 825 shares of the pipeline company's stock valued at $34,000 after purchasing an additional 325 shares in the last quarter. Granite Group Advisors LLC raised its position in shares of Pembina Pipeline by 5.2% in the first quarter. Granite Group Advisors LLC now owns 6,719 shares of the pipeline company's stock valued at $237,000 after purchasing an additional 330 shares during the period. Oppenheimer Asset Management Inc. increased its position in Pembina Pipeline by 1.8% during the third quarter. Oppenheimer Asset Management Inc. now owns 18,675 shares of the pipeline company's stock worth $770,000 after acquiring an additional 334 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of Pembina Pipeline by 30.2% during the second quarter. EverSource Wealth Advisors LLC now owns 1,668 shares of the pipeline company's stock valued at $65,000 after purchasing an additional 387 shares during the period. Finally, Gold Investment Management Ltd. grew its stake in shares of Pembina Pipeline by 4.2% in the 3rd quarter. Gold Investment Management Ltd. now owns 11,001 shares of the pipeline company's stock valued at $453,000 after purchasing an additional 439 shares during the period. Institutional investors and hedge funds own 55.37% of the company's stock.

Pembina Pipeline Stock Performance

Shares of Pembina Pipeline stock traded up $0.05 on Wednesday, reaching $42.47. 668,539 shares of the stock were exchanged, compared to its average volume of 1,111,073. 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 firm has a market capitalization of $24.65 billion, a PE ratio of 17.53 and a beta of 1.25. Pembina Pipeline Co. has a 1-year low of $32.10 and a 1-year high of $43.44. The business has a fifty day moving average price of $41.80 and a two-hundred day moving average price of $39.21.

Pembina Pipeline Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 6.50%. This is a boost from Pembina Pipeline's previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Monday, December 16th. Pembina Pipeline's dividend payout ratio is presently 84.30%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on PBA shares. Raymond James started coverage on Pembina Pipeline in a research note on Friday, October 11th. They issued an "outperform" rating for the company. UBS Group began coverage on Pembina Pipeline in a report on Wednesday, September 11th. They issued a "neutral" rating on the stock. Finally, Citigroup raised their target price on Pembina Pipeline from $53.00 to $56.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 28th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Pembina Pipeline presently has an average rating of "Hold" and an average 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.