Duff & Phelps Investment Management Co. Cuts Position in Pembina Pipeline Co. (NYSE:PBA)

Duff & Phelps Investment Management Co. reduced its position in Pembina Pipeline Co. (NYSE:PBA - Free Report) TSE: PPL by 14.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,570,896 shares of the pipeline company's stock after selling 264,679 shares during the period. Duff & Phelps Investment Management Co. owned approximately 0.27% of Pembina Pipeline worth $64,825,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Godsey & Gibb Inc. purchased a new position in Pembina Pipeline in the third quarter worth about $25,000. Prospera Private Wealth LLC bought a new position in shares of Pembina Pipeline in the 3rd quarter worth approximately $26,000. Safe Harbor Fiduciary LLC bought a new position in shares of Pembina Pipeline in the 3rd quarter worth approximately $26,000. Dunhill Financial LLC purchased a new position in shares of Pembina Pipeline in the third quarter worth approximately $28,000. Finally, Blue Trust Inc. grew its position in Pembina Pipeline by 223.8% during the third quarter. Blue Trust Inc. now owns 735 shares of the pipeline company's stock valued at $30,000 after buying an additional 508 shares during the period. Institutional investors own 55.37% of the company's stock.

Pembina Pipeline Price Performance

PBA traded down $0.17 on Monday, hitting $39.27. 3,263,695 shares of the company's stock traded hands, compared to its average volume of 1,136,119. Pembina Pipeline Co. has a one year low of $32.39 and a one year 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 firm has a market cap of $22.80 billion, a price-to-earnings ratio of 16.30 and a beta of 1.24. The company's 50 day simple moving average is $41.90 and its 200-day simple moving average is $39.61.

Pembina Pipeline Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be given a dividend of $0.69 per share. This is a positive change from Pembina Pipeline's previous quarterly dividend of $0.50. The ex-dividend date is Monday, December 16th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 7.03%. Pembina Pipeline's dividend payout ratio is currently 84.30%.

Analyst Ratings Changes

Several analysts have issued reports on the company. UBS Group assumed coverage on Pembina Pipeline in a report on Wednesday, September 11th. They set a "neutral" rating for the company. Raymond James started coverage on shares of Pembina Pipeline in a report on Friday, October 11th. They issued an "outperform" rating for the company. Finally, Citigroup lifted their price target on shares of Pembina Pipeline from $53.00 to $56.00 and gave the company a "neutral" rating in a report on Wednesday, August 28th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Pembina Pipeline presently has an average rating of "Hold" and a consensus target price of $56.50.

Pembina Pipeline 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.