Assenagon Asset Management S.A. Has $878,000 Stock Holdings in Pembina Pipeline Co. (NYSE:PBA)

Assenagon Asset Management S.A. decreased its position in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 3.7% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 23,777 shares of the pipeline company’s stock after selling 920 shares during the period. Assenagon Asset Management S.A.’s holdings in Pembina Pipeline were worth $878,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. PDT Partners LLC acquired a new position in Pembina Pipeline in the third quarter valued at about $1,329,000. JPMorgan Chase & Co. raised its position in shares of Pembina Pipeline by 18.2% during the third quarter. JPMorgan Chase & Co. now owns 4,049,470 shares of the pipeline company’s stock worth $167,000,000 after purchasing an additional 624,958 shares during the period. Sequoia Financial Advisors LLC lifted its holdings in shares of Pembina Pipeline by 7.2% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 12,767 shares of the pipeline company’s stock valued at $527,000 after purchasing an additional 860 shares in the last quarter. FMR LLC grew its position in shares of Pembina Pipeline by 1,396.8% in the 3rd quarter. FMR LLC now owns 547,448 shares of the pipeline company’s stock valued at $22,573,000 after purchasing an additional 510,873 shares during the period. Finally, Recurrent Investment Advisors LLC increased its stake in Pembina Pipeline by 2.6% during the 3rd quarter. Recurrent Investment Advisors LLC now owns 1,637,910 shares of the pipeline company’s stock worth $67,994,000 after purchasing an additional 41,282 shares in the last quarter. Institutional investors own 55.37% of the company’s stock.

Pembina Pipeline Stock Down 0.3 %

Shares of PBA stock opened at $37.07 on Friday. The firm’s fifty day moving average price is $38.48 and its two-hundred day moving average price is $39.65. 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 1 year low of $32.81 and a 1 year high of $43.44. The firm has a market capitalization of $21.52 billion, a P/E ratio of 15.32 and a beta of 1.25.

Pembina Pipeline Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were issued a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 7.44%. The ex-dividend date was Monday, December 16th. This is a positive change from Pembina Pipeline’s previous quarterly dividend of $0.50. Pembina Pipeline’s dividend payout ratio is presently 80.58%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Wells Fargo & Company cut shares of Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Barclays assumed coverage on shares of Pembina Pipeline in a research note on Thursday, December 12th. They issued an “overweight” rating for the company. Raymond James began coverage on Pembina Pipeline in a research note on Friday, October 11th. They issued an “outperform” rating on the stock. Finally, TD Securities started coverage on Pembina Pipeline in a research report on Wednesday, January 15th. They set a “buy” rating for the company. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $56.50.

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.