Jennison Associates LLC Decreases Stock Holdings in Pembina Pipeline Corp. $PBA

Jennison Associates LLC decreased its holdings in Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 0.2% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 622,096 shares of the pipeline company’s stock after selling 1,329 shares during the quarter. Jennison Associates LLC owned 0.11% of Pembina Pipeline worth $23,374,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of PBA. Wealth Enhancement Advisory Services LLC raised its position in Pembina Pipeline by 11.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 18,182 shares of the pipeline company’s stock worth $728,000 after buying an additional 1,824 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its position in Pembina Pipeline by 11.5% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 13,227 shares of the pipeline company’s stock worth $529,000 after buying an additional 1,363 shares during the last quarter. First Horizon Advisors Inc. raised its position in Pembina Pipeline by 69.9% in the 1st quarter. First Horizon Advisors Inc. now owns 673 shares of the pipeline company’s stock worth $27,000 after buying an additional 277 shares during the last quarter. Checchi Capital Advisers LLC raised its position in Pembina Pipeline by 8.7% in the 1st quarter. Checchi Capital Advisers LLC now owns 7,023 shares of the pipeline company’s stock worth $281,000 after buying an additional 564 shares during the last quarter. Finally, Catalyst Capital Advisors LLC raised its position in Pembina Pipeline by 18.0% in the 1st quarter. Catalyst Capital Advisors LLC now owns 445,057 shares of the pipeline company’s stock worth $17,816,000 after buying an additional 67,797 shares during the last quarter. Hedge funds and other institutional investors own 55.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PBA. BMO Capital Markets reissued an “outperform” rating on shares of Pembina Pipeline in a research report on Monday, August 11th. Wall Street Zen lowered shares of Pembina Pipeline from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Wells Fargo & Company lowered shares of Pembina Pipeline from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 6th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Pembina Pipeline in a research report on Wednesday, October 8th. Finally, Jefferies Financial Group lowered shares of Pembina Pipeline from a “buy” rating to a “hold” rating in a research report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Pembina Pipeline has an average rating of “Moderate Buy”.

Pembina Pipeline Trading Up 0.4%

Pembina Pipeline stock opened at $37.70 on Friday. The firm has a 50 day moving average of $38.88 and a 200 day moving average of $37.93. The firm has a market capitalization of $21.90 billion, a price-to-earnings ratio of 17.70 and a beta of 0.76. Pembina Pipeline Corp. has a 12-month low of $34.13 and a 12-month high of $43.44. The company has a current ratio of 0.77, a quick ratio of 0.62 and a debt-to-equity ratio of 0.81.

Pembina Pipeline Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Monday, September 15th were issued a $0.71 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $2.84 annualized dividend and a yield of 7.5%. This is a positive change from Pembina Pipeline’s previous quarterly dividend of $0.51. Pembina Pipeline’s payout ratio is currently 97.18%.

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.