Connor Clark & Lunn Investment Management Ltd. Boosts Stake in Pembina Pipeline Co. (NYSE:PBA)

Connor Clark & Lunn Investment Management Ltd. boosted its stake in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 0.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,249,624 shares of the pipeline company’s stock after purchasing an additional 32,519 shares during the period. Pembina Pipeline makes up approximately 1.0% of Connor Clark & Lunn Investment Management Ltd.’s holdings, making the stock its 23rd largest position. Connor Clark & Lunn Investment Management Ltd. owned about 1.08% of Pembina Pipeline worth $230,610,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PBA. Safe Harbor Fiduciary LLC purchased a new stake in shares of Pembina Pipeline in the third quarter worth $26,000. Prospera Private Wealth LLC purchased a new position in Pembina Pipeline in the third quarter worth about $26,000. Dunhill Financial LLC bought a new position in shares of Pembina Pipeline during the 3rd quarter valued at approximately $28,000. Versant Capital Management Inc purchased a new stake in Pembina Pipeline in the 4th quarter worth about $27,000. Finally, Sound Income Strategies LLC bought a new stake in shares of Pembina Pipeline during the fourth quarter worth $27,000. Hedge funds and other institutional investors own 55.37% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. TD Securities assumed coverage on Pembina Pipeline in a report on Wednesday, January 15th. They issued a “buy” rating for the company. Barclays started coverage on shares of Pembina Pipeline in a research note on Thursday, December 12th. They set an “overweight” rating on the stock. Wells Fargo & Company cut Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Finally, Citigroup raised shares of Pembina Pipeline from a “neutral” rating to a “buy” rating in a report on Monday. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.50.

Pembina Pipeline Stock Performance

Shares of NYSE:PBA opened at $38.35 on Wednesday. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.65 and a quick ratio of 0.51. The business’s 50 day moving average price is $36.90 and its 200-day moving average price is $39.36. Pembina Pipeline Co. has a 1 year low of $33.83 and a 1 year high of $43.44. The firm has a market capitalization of $22.26 billion, a PE ratio of 15.85 and a beta of 1.26.

Pembina Pipeline Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be issued a dividend of $0.4783 per share. The ex-dividend date is Monday, March 17th. This represents a $1.91 annualized dividend and a dividend yield of 4.99%. Pembina Pipeline’s dividend payout ratio is presently 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.