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

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

A number of other institutional investors and hedge funds have also bought and sold shares of PBA. Versant Capital Management Inc bought a new position in shares of Pembina Pipeline in the fourth quarter worth approximately $27,000. Sound Income Strategies LLC purchased a new position in shares of Pembina Pipeline in the fourth quarter valued at about $27,000. Eastern Bank bought a new position in shares of Pembina Pipeline during the fourth quarter valued at about $29,000. Principal Securities Inc. boosted its holdings in shares of Pembina Pipeline by 2,597.1% during the fourth quarter. Principal Securities Inc. now owns 917 shares of the pipeline company's stock worth $34,000 after purchasing an additional 883 shares during the period. Finally, Venturi Wealth Management LLC grew its stake in shares of Pembina Pipeline by 880.0% in the fourth quarter. Venturi Wealth Management LLC now owns 980 shares of the pipeline company's stock worth $36,000 after purchasing an additional 880 shares during the last quarter. 55.37% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Pembina Pipeline Stock Up 1.4 %

Shares of PBA traded up $0.54 during trading hours on Friday, hitting $39.09. The company had a trading volume of 672,813 shares, compared to its average volume of 1,263,859. Pembina Pipeline Co. has a 52-week low of $34.13 and a 52-week high of $43.44. The firm has a fifty day moving average price of $38.20 and a 200-day moving average price of $38.65. The stock has a market capitalization of $22.71 billion, a price-to-earnings ratio of 16.15 and a beta of 0.89. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.51 and a current ratio of 0.65.

Pembina Pipeline Cuts Dividend

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

Pembina Pipeline 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.