Baskin Financial Services Inc. lowered its holdings in Pembina Pipeline Co. (NYSE:PBA – Get Rating) (TSE:PPL) by 0.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 188,440 shares of the pipeline company's stock after selling 972 shares during the quarter. Baskin Financial Services Inc.'s holdings in Pembina Pipeline were worth $6,655,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Cyrus J. Lawrence LLC acquired a new stake in Pembina Pipeline in the 1st quarter valued at $31,000. Tobam bought a new position in Pembina Pipeline during the 1st quarter valued at $35,000. Stonehage Fleming Financial Services Holdings Ltd bought a new position in Pembina Pipeline during the 1st quarter valued at $35,000. Bogart Wealth LLC bought a new position in Pembina Pipeline during the 1st quarter valued at $45,000. Finally, Eaton Vance Management lifted its stake in Pembina Pipeline by 109.8% during the 4th quarter. Eaton Vance Management now owns 2,322 shares of the pipeline company's stock valued at $47,000 after acquiring an additional 1,215 shares in the last quarter. Institutional investors and hedge funds own 54.92% of the company's stock.

Pembina Pipeline Stock Down 6.7 %

NYSE:PBA traded down $2.24 during trading hours on Friday, hitting $31.27. 1,804,473 shares of the company traded hands, compared to its average volume of 796,171. The company has a quick ratio of 1.20, a current ratio of 1.28 and a debt-to-equity ratio of 0.79. The firm's 50-day simple moving average is $36.27 and its 200-day simple moving average is $37.27. Pembina Pipeline Co. has a one year low of $28.89 and a one year high of $42.74. The company has a market cap of $17.35 billion, a PE ratio of 15.33, a PEG ratio of 4.56 and a beta of 1.24.

Pembina Pipeline Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 23rd will be paid a dividend of $0.166 per share. This represents a $1.99 dividend on an annualized basis and a dividend yield of 6.37%. This is a boost from Pembina Pipeline's previous monthly dividend of $0.16. The ex-dividend date of this dividend is Thursday, September 22nd. Pembina Pipeline's payout ratio is presently 97.55%.

Pembina Pipeline Company Profile

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Pembina Pipeline Corporation provides transportation and midstream services for the energy industry. 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 3.1 millions of barrels of oil equivalent per day, ground storage of 11 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.

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