Jennison Associates LLC Sells 177,965 Shares of Pembina Pipeline Co. (NYSE:PBA)

Jennison Associates LLC lowered its holdings in shares of Pembina Pipeline Co. (NYSE:PBA - Free Report) TSE: PPL by 27.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 466,303 shares of the pipeline company's stock after selling 177,965 shares during the period. Jennison Associates LLC owned approximately 0.08% of Pembina Pipeline worth $19,224,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Cetera Advisors LLC boosted its position in shares of Pembina Pipeline by 248.9% in the 1st quarter. Cetera Advisors LLC now owns 31,948 shares of the pipeline company's stock valued at $1,129,000 after purchasing an additional 22,790 shares during the period. Sequoia Financial Advisors LLC boosted its position in shares of Pembina Pipeline by 7.2% in the third quarter. Sequoia Financial Advisors LLC now owns 12,767 shares of the pipeline company's stock worth $527,000 after buying an additional 860 shares during the period. Triasima Portfolio Management inc. grew its holdings in shares of Pembina Pipeline by 49.2% during the second quarter. Triasima Portfolio Management inc. now owns 784,516 shares of the pipeline company's stock valued at $29,095,000 after buying an additional 258,575 shares in the last quarter. DekaBank Deutsche Girozentrale raised its position in Pembina Pipeline by 5.6% during the first quarter. DekaBank Deutsche Girozentrale now owns 2,182,889 shares of the pipeline company's stock valued at $76,279,000 after buying an additional 116,089 shares during the period. Finally, Cetera Investment Advisers lifted its stake in Pembina Pipeline by 105.1% in the 1st quarter. Cetera Investment Advisers now owns 48,237 shares of the pipeline company's stock worth $1,705,000 after acquiring an additional 24,717 shares in the last quarter. Institutional investors and hedge funds own 55.37% of the company's stock.

Pembina Pipeline Stock Performance

Pembina Pipeline stock traded down $0.24 on Friday, reaching $42.93. 1,347,501 shares of the stock were exchanged, compared to its average volume of 873,518. 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 fifty day moving average price of $41.92 and a two-hundred day moving average price of $39.31. The stock has a market cap of $24.92 billion, a PE ratio of 17.74 and a beta of 1.25. Pembina Pipeline Co. has a twelve month low of $32.39 and a twelve month high of $43.44.

Pembina Pipeline Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be paid a $0.69 dividend. This is an increase from Pembina Pipeline's previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.76 annualized dividend and a dividend yield of 6.43%. Pembina Pipeline's dividend payout ratio (DPR) is presently 84.30%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on PBA shares. Raymond James initiated coverage on shares of Pembina Pipeline in a research report on Friday, October 11th. They issued an "outperform" rating for the company. Citigroup boosted 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. Finally, UBS Group initiated coverage on Pembina Pipeline in a report on Wednesday, September 11th. They set a "neutral" rating for the company. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target 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.