Pembina Pipeline Co. (NYSE:PBA) Shares Sold by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC cut its holdings in shares of Pembina Pipeline Co. (NYSE:PBA - Free Report) TSE: PPL by 47.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 179,707 shares of the pipeline company's stock after selling 160,507 shares during the quarter. Lord Abbett & CO. LLC's holdings in Pembina Pipeline were worth $7,408,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Toronto Dominion Bank lifted its position in Pembina Pipeline by 97.2% during the 2nd quarter. Toronto Dominion Bank now owns 8,938,488 shares of the pipeline company's stock worth $331,439,000 after acquiring an additional 4,405,792 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in shares of Pembina Pipeline by 56.9% in the second quarter. Canada Pension Plan Investment Board now owns 8,387,525 shares of the pipeline company's stock valued at $311,142,000 after purchasing an additional 3,043,200 shares during the period. CIBC Asset Management Inc grew its holdings in Pembina Pipeline by 8.1% during the 3rd quarter. CIBC Asset Management Inc now owns 6,405,991 shares of the pipeline company's stock valued at $264,315,000 after purchasing an additional 481,285 shares in the last quarter. TD Asset Management Inc increased its stake in Pembina Pipeline by 0.9% during the 2nd quarter. TD Asset Management Inc now owns 4,759,869 shares of the pipeline company's stock worth $176,571,000 after buying an additional 44,441 shares during the period. Finally, Tortoise Capital Advisors L.L.C. lifted its holdings in Pembina Pipeline by 6.9% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 4,542,997 shares of the pipeline company's stock worth $168,512,000 after buying an additional 291,486 shares in the last quarter. 55.37% of the stock is owned by institutional investors and hedge funds.

Pembina Pipeline Stock Performance

PBA traded down $0.34 on Tuesday, hitting $37.03. 1,650,259 shares of the company's stock were exchanged, compared to its average volume of 1,135,525. 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 stock has a fifty day moving average of $41.46 and a two-hundred day moving average of $39.70. Pembina Pipeline Co. has a twelve month low of $32.81 and a twelve month high of $43.44. The firm has a market cap of $21.49 billion, a PE ratio of 15.44 and a beta of 1.24.

Pembina Pipeline Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be issued a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 7.45%. The ex-dividend date is Monday, December 16th. This is a boost from Pembina Pipeline's previous quarterly dividend of $0.50. Pembina Pipeline's dividend payout ratio (DPR) is 84.30%.

Analyst Ratings Changes

A number of brokerages have weighed in on PBA. Citigroup raised their price objective on Pembina Pipeline from $53.00 to $56.00 and gave the company a "neutral" rating in a research note on Wednesday, August 28th. UBS Group started coverage on shares of Pembina Pipeline in a research note on Wednesday, September 11th. They issued a "neutral" rating for the company. Barclays assumed coverage on shares of Pembina Pipeline in a research note on Thursday, December 12th. They set an "overweight" rating on the stock. Finally, 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. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock 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.