Connor Clark & Lunn Investment Management Ltd. Reduces Stock Holdings in Pembina Pipeline Corp. (NYSE:PBA)

Key Points

• Connor Clark & Lunn Investment Management Ltd. reduced its holdings in Pembina Pipeline Corp. by 26.7%, owning 4,583,881 shares, which represent 0.8% of its portfolio and are valued at approximately $183.38 million.
• Pembina Pipeline recently announced a quarterly dividend increase to $0.71 per share, yielding 8.0%, up from the previous $0.51 per share, reflecting robust financial performance.
• The stock has shown volatility, with a 12-month low of $34.13 and a high of $43.44, while currently trading at $35.54.

Connor Clark & Lunn Investment Management Ltd. trimmed its stake in Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL by 26.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,583,881 shares of the pipeline company's stock after selling 1,665,743 shares during the period. Pembina Pipeline makes up about 0.8% of Connor Clark & Lunn Investment Management Ltd.'s portfolio, making the stock its 26th biggest position. Connor Clark & Lunn Investment Management Ltd. owned about 0.79% of Pembina Pipeline worth $183,379,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. First Horizon Advisors Inc. lifted its stake in shares of Pembina Pipeline by 69.9% in the 1st quarter. First Horizon Advisors Inc. now owns 673 shares of the pipeline company's stock valued at $27,000 after purchasing an additional 277 shares during the last quarter. JCIC Asset Management Inc. lifted its stake in shares of Pembina Pipeline by 6.8% in the 1st quarter. JCIC Asset Management Inc. now owns 5,133 shares of the pipeline company's stock valued at $205,000 after purchasing an additional 325 shares during the last quarter. Hexagon Capital Partners LLC lifted its stake in shares of Pembina Pipeline by 17.0% in the 1st quarter. Hexagon Capital Partners LLC now owns 2,397 shares of the pipeline company's stock valued at $96,000 after purchasing an additional 349 shares during the last quarter. Albert D Mason Inc. lifted its stake in shares of Pembina Pipeline by 1.0% during the 1st quarter. Albert D Mason Inc. now owns 43,073 shares of the pipeline company's stock worth $1,724,000 after acquiring an additional 426 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its stake in shares of Pembina Pipeline by 4.5% during the 4th quarter. NewEdge Advisors LLC now owns 9,883 shares of the pipeline company's stock worth $365,000 after acquiring an additional 430 shares during the last quarter. 55.37% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on PBA shares. BMO Capital Markets reissued an "outperform" rating on shares of Pembina Pipeline in a research note on Monday. Barclays restated an "overweight" rating on shares of Pembina Pipeline in a report on Tuesday, June 3rd. Wells Fargo & Company downgraded Pembina Pipeline from a "hold" rating to a "strong sell" rating in a report on Wednesday, August 6th. National Bankshares upgraded Pembina Pipeline from a "sector perform" rating to an "outperform" rating in a report on Thursday, June 26th. Finally, Wall Street Zen downgraded Pembina Pipeline from a "hold" rating to a "sell" rating in a report on Saturday. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Pembina Pipeline presently has an average rating of "Moderate Buy" and an average target price of $56.00.

Pembina Pipeline Stock Up 2.2%

Shares of NYSE:PBA traded up $0.80 on Wednesday, reaching $36.46. The company had a trading volume of 519,594 shares, compared to its average volume of 1,321,015. Pembina Pipeline Corp. has a 52-week low of $34.13 and a 52-week high of $43.44. The firm's 50 day simple moving average is $37.12 and its 200-day simple moving average is $37.51. The firm has a market capitalization of $21.18 billion, a PE ratio of 17.11 and a beta of 0.78. The company has a current ratio of 0.77, a quick ratio of 0.62 and a debt-to-equity ratio of 0.81.

Pembina Pipeline Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 15th will be issued a $0.71 dividend. The ex-dividend date is Monday, September 15th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 7.8%. This is a boost from Pembina Pipeline's previous quarterly dividend of $0.51. Pembina Pipeline's dividend payout ratio (DPR) is 97.18%.

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.