CANADA LIFE ASSURANCE Co Has $25.52 Million Holdings in Pembina Pipeline Co. (NYSE:PBA)

CANADA LIFE ASSURANCE Co grew its holdings in Pembina Pipeline Co. (NYSE:PBA - Free Report) TSE: PPL by 3.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 691,468 shares of the pipeline company's stock after purchasing an additional 20,534 shares during the quarter. CANADA LIFE ASSURANCE Co owned approximately 0.12% of Pembina Pipeline worth $25,515,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of PBA. Vanguard Group Inc. grew its holdings in Pembina Pipeline by 3.2% during the 4th quarter. Vanguard Group Inc. now owns 24,887,077 shares of the pipeline company's stock worth $919,503,000 after acquiring an additional 770,729 shares during the period. TD Asset Management Inc. boosted its position in shares of Pembina Pipeline by 5.4% in the 4th quarter. TD Asset Management Inc. now owns 6,789,722 shares of the pipeline company's stock worth $250,732,000 after purchasing an additional 347,872 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Pembina Pipeline by 0.5% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,249,624 shares of the pipeline company's stock worth $230,610,000 after purchasing an additional 32,519 shares during the period. Scotia Capital Inc. increased its holdings in Pembina Pipeline by 1.7% in the fourth quarter. Scotia Capital Inc. now owns 4,969,977 shares of the pipeline company's stock valued at $183,596,000 after purchasing an additional 85,121 shares during the last quarter. Finally, Norges Bank acquired a new position in Pembina Pipeline in the fourth quarter valued at about $171,860,000. Institutional investors and hedge funds own 55.37% of the company's stock.

Analyst Ratings Changes

PBA has been the subject of several analyst reports. TD Securities began coverage on Pembina Pipeline in a research report on Wednesday, January 15th. They set a "buy" rating for the company. Citigroup raised shares of Pembina Pipeline from a "neutral" rating to a "buy" rating in a research note on Monday, March 10th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Pembina Pipeline presently has an average rating of "Moderate Buy" and a consensus price target of $56.00.

Pembina Pipeline Stock Down 0.5 %

Shares of PBA traded down $0.18 on Wednesday, hitting $38.10. The company's stock had a trading volume of 714,115 shares, compared to its average volume of 1,268,351. The firm's fifty day moving average price is $37.89 and its 200-day moving average price is $38.82. Pembina Pipeline Co. has a fifty-two week low of $34.13 and a fifty-two week high of $43.44. The company has a quick ratio of 0.51, a current ratio of 0.65 and a debt-to-equity ratio of 0.79. The firm has a market capitalization of $22.12 billion, a price-to-earnings ratio of 15.74 and a beta of 0.89.

Pembina Pipeline Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were given a dividend of $0.4783 per share. This represents a $1.91 annualized dividend and a dividend yield of 5.02%. The ex-dividend date of this dividend was Monday, March 17th. Pembina Pipeline's dividend payout ratio is 86.76%.

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.