Cumberland Partners Ltd trimmed its stake in shares of Pembina Pipeline Corp (NYSE:PBA) (TSE:PPL) by 2.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 922,639 shares of the pipeline company’s stock after selling 25,089 shares during the period. Pembina Pipeline accounts for 4.4% of Cumberland Partners Ltd’s holdings, making the stock its 5th biggest position. Cumberland Partners Ltd owned about 0.18% of Pembina Pipeline worth $33,543,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Alliancebernstein L.P. increased its position in shares of Pembina Pipeline by 51.8% during the second quarter. Alliancebernstein L.P. now owns 44,961 shares of the pipeline company’s stock valued at $1,489,000 after acquiring an additional 15,342 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Pembina Pipeline by 8.4% in the second quarter. Ameriprise Financial Inc. now owns 18,257 shares of the pipeline company’s stock valued at $605,000 after purchasing an additional 1,418 shares during the period. Northern Trust Corp boosted its stake in shares of Pembina Pipeline by 1.9% in the second quarter. Northern Trust Corp now owns 364,743 shares of the pipeline company’s stock valued at $12,080,000 after purchasing an additional 6,916 shares during the period. FMR LLC boosted its stake in shares of Pembina Pipeline by 7.1% in the second quarter. FMR LLC now owns 2,132,381 shares of the pipeline company’s stock valued at $70,624,000 after purchasing an additional 142,031 shares during the period. Finally, Parametric Portfolio Associates LLC boosted its stake in shares of Pembina Pipeline by 18.8% in the second quarter. Parametric Portfolio Associates LLC now owns 131,773 shares of the pipeline company’s stock valued at $4,364,000 after purchasing an additional 20,879 shares during the period. 45.03% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have recently commented on the stock. Macquarie lowered shares of Pembina Pipeline from an “outperform” rating to a “neutral” rating in a research note on Wednesday, November 29th. Zacks Investment Research upgraded shares of Pembina Pipeline from a “sell” rating to a “hold” rating in a research note on Wednesday, December 20th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $39.00.
The firm also recently announced a feb 18 dividend, which will be paid on Thursday, March 15th. Stockholders of record on Sunday, February 25th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Thursday, February 22nd. This represents a dividend yield of 0.00560224089635854%. Pembina Pipeline’s payout ratio is 175.76%.
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About Pembina Pipeline
Pembina Pipeline Corporation is an energy transportation and service provider. The Company operates through four segments. The Conventional Pipelines segment consists of the tariff-based operations of pipelines and related facilities to deliver crude oil, condensate and natural gas liquids (NGL) in Alberta, British Columbia, Saskatchewan, and North Dakota, United States.
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