Toronto Dominion Bank Lowers Stock Position in Pembina Pipeline Co. (NYSE:PBA)

Toronto Dominion Bank lessened its position in shares of Pembina Pipeline Co. (NYSE:PBA - Free Report) TSE: PPL by 8.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,168,932 shares of the pipeline company's stock after selling 769,556 shares during the period. Pembina Pipeline makes up approximately 0.6% of Toronto Dominion Bank's investment portfolio, making the stock its 28th largest position. Toronto Dominion Bank owned about 1.41% of Pembina Pipeline worth $336,887,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. PDT Partners LLC acquired a new stake in shares of Pembina Pipeline in the 3rd quarter valued at $1,329,000. Sequoia Financial Advisors LLC grew its position in shares of Pembina Pipeline by 7.2% during the 3rd 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 stake in shares of Pembina Pipeline by 49.2% in the 2nd 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 during the period. Cetera Investment Advisers increased its position in Pembina Pipeline by 105.1% in the 1st quarter. Cetera Investment Advisers now owns 48,237 shares of the pipeline company's stock valued at $1,705,000 after buying an additional 24,717 shares in the last quarter. Finally, Fiera Capital Corp raised its stake in Pembina Pipeline by 15.5% during the 3rd quarter. Fiera Capital Corp now owns 1,196,390 shares of the pipeline company's stock worth $49,381,000 after buying an additional 160,946 shares during the period. Institutional investors and hedge funds own 55.37% of the company's stock.

Pembina Pipeline Trading Down 0.1 %

Shares of Pembina Pipeline stock traded down $0.03 on Wednesday, hitting $38.94. The stock had a trading volume of 421,012 shares, compared to its average volume of 1,131,831. The stock's 50-day simple moving average is $41.86 and its two-hundred day simple moving average is $39.63. Pembina Pipeline Co. has a one year low of $32.39 and a one year 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 stock has a market cap of $22.61 billion, a price-to-earnings ratio of 16.10 and a beta of 1.24.

Pembina Pipeline Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given a $0.69 dividend. This is a positive change from Pembina Pipeline's previous quarterly dividend of $0.50. This represents a $2.76 dividend on an annualized basis and a dividend yield of 7.09%. The ex-dividend date of this dividend is Monday, December 16th. Pembina Pipeline's dividend payout ratio (DPR) is currently 84.30%.

Analysts Set New Price Targets

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