Legal & General Group Plc Sells 1,627,719 Shares of Pembina Pipeline Co. (NYSE:PBA)

Legal & General Group Plc decreased its holdings in shares of Pembina Pipeline Co. (NYSE:PBA - Free Report) TSE: PPL by 26.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,534,646 shares of the pipeline company's stock after selling 1,627,719 shares during the quarter. Legal & General Group Plc owned approximately 0.78% of Pembina Pipeline worth $167,456,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in PBA. Vanguard Group Inc. grew its holdings in shares of Pembina Pipeline by 3.2% in the 4th quarter. Vanguard Group Inc. now owns 24,887,077 shares of the pipeline company's stock valued at $919,503,000 after acquiring an additional 770,729 shares in the last quarter. TD Asset Management Inc. grew its stake in shares of Pembina Pipeline by 5.4% in the fourth quarter. TD Asset Management Inc. now owns 6,789,722 shares of the pipeline company's stock valued at $250,732,000 after buying an additional 347,872 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Pembina Pipeline by 0.5% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,249,624 shares of the pipeline company's stock valued at $230,610,000 after buying an additional 32,519 shares in the last quarter. Norges Bank acquired a new position in Pembina Pipeline during the fourth quarter worth $171,860,000. Finally, JPMorgan Chase & Co. raised its position in Pembina Pipeline by 18.2% during the third quarter. JPMorgan Chase & Co. now owns 4,049,470 shares of the pipeline company's stock worth $167,000,000 after acquiring an additional 624,958 shares in the last quarter. Institutional investors own 55.37% of the company's stock.

Pembina Pipeline Stock Performance

PBA traded up $0.08 on Tuesday, reaching $37.02. The company had a trading volume of 249,388 shares, compared to its average volume of 1,270,773. Pembina Pipeline Co. has a fifty-two week low of $33.83 and a fifty-two week high of $43.44. The stock has a market cap of $21.49 billion, a P/E ratio of 15.30 and a beta of 0.89. The company's fifty day moving average is $37.77 and its 200 day moving average is $38.98. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.51 and a current ratio of 0.65.

Pembina Pipeline Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were given a $0.4783 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $1.91 dividend on an annualized basis and a dividend yield of 5.17%. Pembina Pipeline's payout ratio is presently 86.76%.

Analyst Ratings Changes

Several research firms have recently weighed in on PBA. Wells Fargo & Company lowered shares of Pembina Pipeline from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, December 18th. Citigroup raised Pembina Pipeline from a "neutral" rating to a "buy" rating in a research report on Monday, March 10th. Finally, TD Securities started coverage on Pembina Pipeline in a research report on Wednesday, January 15th. They issued a "buy" rating for the company. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, Pembina Pipeline has an average rating of "Moderate Buy" and a consensus 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.