Rockefeller Capital Management L.P. Lowers Stake in Pembina Pipeline Co. (NYSE:PBA)

Rockefeller Capital Management L.P. lessened its stake in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 0.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 70,873 shares of the pipeline company’s stock after selling 509 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Pembina Pipeline were worth $2,922,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Cetera Advisors LLC increased its position in Pembina Pipeline by 248.9% during the first quarter. Cetera Advisors LLC now owns 31,948 shares of the pipeline company’s stock valued at $1,129,000 after acquiring an additional 22,790 shares during the last quarter. Sequoia Financial Advisors LLC lifted its position in shares of Pembina Pipeline by 7.2% during the third quarter. Sequoia Financial Advisors LLC now owns 12,767 shares of the pipeline company’s stock valued at $527,000 after buying an additional 860 shares during the last quarter. Triasima Portfolio Management inc. lifted its position in shares of Pembina Pipeline by 49.2% during the second quarter. Triasima Portfolio Management inc. now owns 784,516 shares of the pipeline company’s stock valued at $29,095,000 after buying an additional 258,575 shares during the last quarter. Cetera Investment Advisers raised its position in shares of Pembina Pipeline by 105.1% in the 1st quarter. Cetera Investment Advisers now owns 48,237 shares of the pipeline company’s stock valued at $1,705,000 after purchasing an additional 24,717 shares during the last quarter. Finally, Fiera Capital Corp raised its position in shares of Pembina Pipeline by 15.5% in the 3rd quarter. Fiera Capital Corp now owns 1,196,390 shares of the pipeline company’s stock valued at $49,381,000 after purchasing an additional 160,946 shares during the last quarter. Hedge funds and other institutional investors own 55.37% of the company’s stock.

Pembina Pipeline Stock Performance

NYSE PBA opened at $40.57 on Friday. The business’s 50-day moving average price is $41.93 and its 200 day moving average price is $39.56. Pembina Pipeline Co. has a twelve month low of $32.39 and a twelve month high of $43.44. The company has a market capitalization of $23.55 billion, a PE ratio of 16.76 and a beta of 1.24. 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 Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be issued a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 6.80%. This is an increase from Pembina Pipeline’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Monday, December 16th. Pembina Pipeline’s dividend payout ratio (DPR) is 84.30%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Raymond James started coverage on shares of Pembina Pipeline in a report on Friday, October 11th. They issued an “outperform” rating on the stock. Citigroup raised their price objective on Pembina Pipeline from $53.00 to $56.00 and gave the company a “neutral” rating in a report on Wednesday, August 28th. Finally, UBS Group initiated coverage on Pembina Pipeline in a research report on Wednesday, September 11th. They set a “neutral” rating for the company. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Pembina Pipeline currently has a consensus rating of “Hold” and a consensus price target of $56.50.

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.