Massachusetts Financial Services Co. MA Lowers Holdings in Pembina Pipeline Co. (NYSE:PBA)

Massachusetts Financial Services Co. MA decreased its holdings in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 1.8% in the third quarter, HoldingsChannel.com reports. The fund owned 819,202 shares of the pipeline company’s stock after selling 15,203 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Pembina Pipeline were worth $33,784,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Toronto Dominion Bank boosted its stake in Pembina Pipeline by 97.2% in the 2nd quarter. Toronto Dominion Bank now owns 8,938,488 shares of the pipeline company’s stock worth $331,439,000 after purchasing an additional 4,405,792 shares during the period. Canada Pension Plan Investment Board grew its stake in Pembina Pipeline by 56.9% during the second quarter. Canada Pension Plan Investment Board now owns 8,387,525 shares of the pipeline company’s stock valued at $311,142,000 after acquiring an additional 3,043,200 shares in the last quarter. CIBC Asset Management Inc increased its holdings in Pembina Pipeline by 8.1% in the 3rd quarter. CIBC Asset Management Inc now owns 6,405,991 shares of the pipeline company’s stock valued at $264,315,000 after acquiring an additional 481,285 shares during the last quarter. TD Asset Management Inc lifted its stake in Pembina Pipeline by 0.9% in the 2nd quarter. TD Asset Management Inc now owns 4,759,869 shares of the pipeline company’s stock worth $176,571,000 after purchasing an additional 44,441 shares in the last quarter. Finally, Tortoise Capital Advisors L.L.C. boosted its holdings in shares of Pembina Pipeline by 6.9% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 4,542,997 shares of the pipeline company’s stock valued at $168,512,000 after purchasing an additional 291,486 shares during the last quarter. Institutional investors own 55.37% of the company’s stock.

Pembina Pipeline Trading Down 0.6 %

Shares of PBA stock opened at $42.93 on Monday. The company has a market cap of $24.92 billion, a PE ratio of 17.74 and a beta of 1.25. 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 stock’s 50 day simple moving average is $41.92 and its two-hundred day simple moving average is $39.35. Pembina Pipeline Co. has a 1 year low of $32.39 and a 1 year high of $43.44.

Pembina Pipeline Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be paid a dividend of $0.69 per share. The ex-dividend date of this dividend is Monday, December 16th. This is a boost from Pembina Pipeline’s previous quarterly dividend of $0.50. This represents a $2.76 dividend on an annualized basis and a dividend yield of 6.43%. Pembina Pipeline’s payout ratio is currently 84.30%.

Analysts Set New Price Targets

PBA has been the topic of several research reports. Raymond James initiated coverage on Pembina Pipeline in a report on Friday, October 11th. They issued an “outperform” rating on the stock. Citigroup lifted their price objective on Pembina Pipeline from $53.00 to $56.00 and gave the stock a “neutral” rating in a research note 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 research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Pembina Pipeline has an average rating of “Hold” and a consensus target price 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.