Lord Abbett & CO. LLC Sells 10,700 Shares of Pembina Pipeline Co. (NYSE:PBA)

Lord Abbett & CO. LLC decreased its stake in shares of Pembina Pipeline Co. (NYSE:PBA - Free Report) TSE: PPL by 6.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 169,007 shares of the pipeline company's stock after selling 10,700 shares during the period. Lord Abbett & CO. LLC's holdings in Pembina Pipeline were worth $6,244,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Van ECK Associates Corp boosted its position in Pembina Pipeline by 8.0% during the 4th quarter. Van ECK Associates Corp now owns 225,684 shares of the pipeline company's stock worth $8,335,000 after acquiring an additional 16,762 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in 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 purchasing an additional 624,958 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Pembina Pipeline by 1.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 22,903 shares of the pipeline company's stock valued at $846,000 after purchasing an additional 348 shares in the last quarter. Jennison Associates LLC increased its stake in Pembina Pipeline by 32.3% in the 4th quarter. Jennison Associates LLC now owns 616,992 shares of the pipeline company's stock valued at $22,786,000 after buying an additional 150,689 shares during the last quarter. Finally, Bank of Nova Scotia Trust Co. boosted its stake in shares of Pembina Pipeline by 20.9% during the 4th quarter. Bank of Nova Scotia Trust Co. now owns 337,379 shares of the pipeline company's stock worth $12,466,000 after buying an additional 58,366 shares during the last quarter. 55.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on PBA shares. TD Securities assumed coverage on Pembina Pipeline in a research report on Wednesday, January 15th. They issued a "buy" rating on the stock. Citigroup upgraded Pembina Pipeline from a "neutral" rating to a "buy" rating in a research note on Monday, March 10th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, Pembina Pipeline currently has an average rating of "Moderate Buy" and a consensus target price of $56.00.

Pembina Pipeline Stock Performance

Shares of PBA traded up $0.54 during mid-day trading on Friday, reaching $39.09. The company's stock had a trading volume of 812,082 shares, compared to its average volume of 1,267,027. The company has a current ratio of 0.65, a quick ratio of 0.51 and a debt-to-equity ratio of 0.79. Pembina Pipeline Co. has a 1-year low of $34.13 and a 1-year high of $43.44. The business has a 50-day simple moving average of $38.26 and a two-hundred day simple moving average of $38.59. The stock has a market cap of $22.71 billion, a P/E ratio of 16.15 and a beta of 0.89.

Pembina Pipeline Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were issued a dividend of $0.4783 per share. This represents a $1.91 annualized dividend and a yield of 4.89%. The ex-dividend date of this dividend was Monday, March 17th. Pembina Pipeline's dividend payout ratio is 86.76%.

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.