The Manufacturers Life Insurance Company Has $62.44 Million Stock Holdings in Pembina Pipeline Co. (NYSE:PBA)

The Manufacturers Life Insurance Company cut its stake in Pembina Pipeline Co. (NYSE:PBA - Free Report) TSE: PPL by 46.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,687,826 shares of the pipeline company's stock after selling 1,475,885 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.29% of Pembina Pipeline worth $62,444,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Sound Income Strategies LLC bought a new stake in shares of Pembina Pipeline in the fourth quarter valued at about $27,000. Versant Capital Management Inc acquired a new position in Pembina Pipeline in the 4th quarter valued at approximately $27,000. Eastern Bank bought a new stake in shares of Pembina Pipeline in the 4th quarter worth approximately $29,000. Principal Securities Inc. grew its holdings in shares of Pembina Pipeline by 2,597.1% during the 4th quarter. Principal Securities Inc. now owns 917 shares of the pipeline company's stock worth $34,000 after purchasing an additional 883 shares in the last quarter. Finally, Venturi Wealth Management LLC increased its position in shares of Pembina Pipeline by 880.0% during the fourth quarter. Venturi Wealth Management LLC now owns 980 shares of the pipeline company's stock valued at $36,000 after purchasing an additional 880 shares during the period. 55.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Pembina Pipeline Trading Down 0.6 %

Shares of PBA stock traded down $0.25 on Monday, reaching $38.83. The company had a trading volume of 189,962 shares, compared to its average volume of 1,262,757. The stock has a market cap of $22.56 billion, a PE ratio of 16.04 and a beta of 0.89. The company has a 50-day moving average of $38.26 and a 200-day moving average of $38.56. 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 12 month low of $34.13 and a 12 month high of $43.44.

Pembina Pipeline Cuts Dividend

The business also recently announced 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. The ex-dividend date was Monday, March 17th. This represents a $1.91 annualized dividend and a yield of 4.93%. Pembina Pipeline's dividend payout ratio (DPR) 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.