BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 428,198 Shares of Pembina Pipeline Co. (NYSE:PBA)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its holdings in Pembina Pipeline Co. (NYSE:PBA - Free Report) TSE: PPL by 69.7% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 186,564 shares of the pipeline company's stock after selling 428,198 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Pembina Pipeline were worth $7,690,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Godsey & Gibb Inc. purchased a new position in Pembina Pipeline in the 3rd quarter worth approximately $25,000. Prospera Private Wealth LLC bought a new stake in shares of Pembina Pipeline during the 3rd quarter valued at $26,000. Blue Trust Inc. boosted its stake in Pembina Pipeline by 223.8% during the third quarter. Blue Trust Inc. now owns 735 shares of the pipeline company's stock worth $30,000 after acquiring an additional 508 shares in the last quarter. CENTRAL TRUST Co grew its stake in shares of Pembina Pipeline by 65.0% in the 3rd quarter. CENTRAL TRUST Co now owns 825 shares of the pipeline company's stock worth $34,000 after buying an additional 325 shares during the last quarter. Finally, Larson Financial Group LLC increased its holdings in shares of Pembina Pipeline by 67.6% during the third quarter. Larson Financial Group LLC now owns 1,341 shares of the pipeline company's stock valued at $55,000 after acquiring an additional 541 shares in the last quarter. 55.37% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Pembina Pipeline Trading Down 2.8 %

PBA traded down $1.17 during trading hours on Monday, reaching $40.20. 1,341,813 shares of the company's stock traded hands, compared to its average volume of 1,116,179. 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 50-day moving average price of $41.98 and a 200 day moving average price of $39.53. Pembina Pipeline Co. has a 52-week low of $32.39 and a 52-week high of $43.44. The firm has a market capitalization of $23.34 billion, a PE ratio of 16.61 and a beta of 1.25.

Pembina Pipeline Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be given a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 6.87%. This is a boost from Pembina Pipeline's previous quarterly dividend of $0.50. The ex-dividend date is Monday, December 16th. Pembina Pipeline's payout ratio is 84.30%.

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.