Voya Investment Management LLC Reduces Stake in Pembina Pipeline Co. (NYSE:PBA)

Voya Investment Management LLC lessened its stake in shares of Pembina Pipeline Co. (NYSE:PBA - Free Report) TSE: PPL by 14.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 182,040 shares of the pipeline company's stock after selling 31,277 shares during the period. Voya Investment Management LLC's holdings in Pembina Pipeline were worth $6,722,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. MassMutual Private Wealth & Trust FSB lifted its stake in Pembina Pipeline by 11.7% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,935 shares of the pipeline company's stock valued at $108,000 after acquiring an additional 308 shares in the last quarter. Headlands Technologies LLC increased its position in shares of Pembina Pipeline by 23.2% during the fourth quarter. Headlands Technologies LLC now owns 1,769 shares of the pipeline company's stock valued at $65,000 after buying an additional 333 shares during the period. PNC Financial Services Group Inc. boosted its holdings in Pembina Pipeline by 1.5% in the 4th 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 during the period. NewEdge Advisors LLC grew its position in Pembina Pipeline by 4.5% during the fourth quarter. NewEdge Advisors LLC now owns 9,883 shares of the pipeline company's stock worth $365,000 after buying an additional 430 shares in the last quarter. Finally, MONECO Advisors LLC increased its holdings in shares of Pembina Pipeline by 9.9% in the 4th quarter. MONECO Advisors LLC now owns 5,954 shares of the pipeline company's stock worth $220,000 after buying an additional 537 shares during the last quarter. 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 research reports. Citigroup raised Pembina Pipeline from a "neutral" rating to a "buy" rating in a research note on Monday, March 10th. TD Securities assumed 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 company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $56.00.

Pembina Pipeline Stock Up 1.4 %

Shares of PBA traded up $0.54 on Friday, reaching $39.09. The stock had a trading volume of 812,082 shares, compared to its average volume of 1,264,782. The firm 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 50-day simple moving average of $38.26 and a 200-day simple moving average of $38.62. Pembina Pipeline Co. has a 12-month low of $34.13 and a 12-month 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.

Pembina Pipeline Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were paid 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 4.89%. Pembina Pipeline's dividend payout ratio is currently 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.