Pembina Pipeline Co. (NYSE:PBA) Shares Sold by APG Asset Management N.V.

APG Asset Management N.V. lowered its position in Pembina Pipeline Co. (NYSE:PBA - Free Report) TSE: PPL by 15.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 79,900 shares of the pipeline company's stock after selling 15,122 shares during the period. APG Asset Management N.V.'s holdings in Pembina Pipeline were worth $2,849,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Renaissance Technologies LLC purchased a new stake in Pembina Pipeline in the 4th quarter worth approximately $2,995,000. Invesco Ltd. grew its holdings in shares of Pembina Pipeline by 8.6% in the fourth quarter. Invesco Ltd. now owns 1,624,743 shares of the pipeline company's stock valued at $60,034,000 after purchasing an additional 128,176 shares during the period. Russell Investments Group Ltd. increased its position in Pembina Pipeline by 16.3% during the fourth quarter. Russell Investments Group Ltd. now owns 898,534 shares of the pipeline company's stock worth $33,171,000 after purchasing an additional 126,213 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in Pembina Pipeline by 5.1% in the 4th quarter. Envestnet Asset Management Inc. now owns 308,872 shares of the pipeline company's stock valued at $11,413,000 after purchasing an additional 15,002 shares during the last quarter. Finally, Aviva PLC grew its stake in shares of Pembina Pipeline by 8.2% in the 4th quarter. Aviva PLC now owns 347,244 shares of the pipeline company's stock valued at $12,804,000 after buying an additional 26,235 shares during the period. Institutional investors and hedge funds own 55.37% of the company's stock.

Analysts Set New Price Targets

PBA has been the topic of a number of recent analyst reports. Citigroup upgraded Pembina Pipeline from a "neutral" rating to a "buy" rating in a report on Monday, March 10th. TD Securities assumed coverage on Pembina Pipeline in a research report on Wednesday, January 15th. They set a "buy" rating for the company. 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 research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Pembina Pipeline has a consensus rating of "Moderate Buy" and an average price target of $56.50.

Pembina Pipeline Stock Up 2.6 %

Shares of PBA traded up $0.98 during midday trading on Thursday, hitting $38.37. The company had a trading volume of 353,342 shares, compared to its average volume of 1,270,334. 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 quick ratio of 0.51 and a current ratio of 0.65. The firm has a market capitalization of $22.28 billion, a P/E ratio of 15.86 and a beta of 0.89. The company's 50-day simple moving average is $37.80 and its 200-day simple moving average is $38.95.

Pembina Pipeline Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were issued a $0.4783 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $1.91 dividend on an annualized basis and a dividend yield of 4.99%. Pembina Pipeline's payout ratio is currently 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.