Wellington Management Group LLP Trims Holdings in Pembina Pipeline Co. (NYSE:PBA)

Wellington Management Group LLP reduced its stake in Pembina Pipeline Co. (NYSE:PBA - Free Report) TSE: PPL by 36.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 789,690 shares of the pipeline company's stock after selling 462,069 shares during the quarter. Wellington Management Group LLP owned approximately 0.14% of Pembina Pipeline worth $29,162,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Pembina Pipeline by 3.2% during the fourth 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 during the last quarter. TD Asset Management Inc. increased its holdings in 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 valued at $250,732,000 after purchasing an additional 347,872 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in 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 purchasing an additional 32,519 shares during the period. Norges Bank acquired a new position in Pembina Pipeline during the fourth quarter worth $171,860,000. Finally, JPMorgan Chase & Co. boosted its position in shares of 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 buying an additional 624,958 shares during the period. 55.37% of the stock is owned by hedge funds and other institutional investors.

Pembina Pipeline Stock Up 3.3 %

Shares of PBA traded up $1.18 during midday trading on Friday, reaching $36.34. The stock had a trading volume of 1,067,576 shares, compared to its average volume of 1,275,155. The company has a market cap of $21.10 billion, a price-to-earnings ratio of 15.01 and a beta of 0.89. The company's fifty day simple moving average is $37.77 and its two-hundred day simple moving average is $39.02. Pembina Pipeline Co. has a 1-year low of $33.83 and a 1-year high of $43.44. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.65 and a quick ratio of 0.51.

Pembina Pipeline Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were paid a dividend of $0.4783 per share. This represents a $1.91 annualized dividend and a yield of 5.26%. The ex-dividend date was Monday, March 17th. Pembina Pipeline's payout ratio is 86.76%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PBA. Citigroup raised Pembina Pipeline from a "neutral" rating to a "buy" rating in a research report on Monday, March 10th. TD Securities began coverage on shares of Pembina Pipeline in a research note on Wednesday, January 15th. They set a "buy" rating on the stock. Finally, Wells Fargo & Company cut shares of Pembina Pipeline from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, December 18th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, Pembina Pipeline presently has a consensus rating of "Moderate Buy" and a consensus target price 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.