Pembina Pipeline Co. (NYSE:PBA) Stake Decreased by ClearBridge Investments Ltd

ClearBridge Investments Ltd decreased its holdings in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 8.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,555,202 shares of the pipeline company’s stock after selling 617,857 shares during the quarter. Pembina Pipeline comprises approximately 7.1% of ClearBridge Investments Ltd’s portfolio, making the stock its 7th biggest holding. ClearBridge Investments Ltd owned about 1.13% of Pembina Pipeline worth $243,067,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Public Sector Pension Investment Board lifted its stake in shares of Pembina Pipeline by 0.6% in the second quarter. Public Sector Pension Investment Board now owns 170,826 shares of the pipeline company’s stock valued at $6,337,000 after purchasing an additional 1,100 shares during the period. EverSource Wealth Advisors LLC lifted its position in shares of Pembina Pipeline by 30.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,668 shares of the pipeline company’s stock valued at $65,000 after acquiring an additional 387 shares during the period. 1832 Asset Management L.P. boosted its stake in shares of Pembina Pipeline by 18.4% during the 2nd quarter. 1832 Asset Management L.P. now owns 1,627,650 shares of the pipeline company’s stock worth $60,353,000 after acquiring an additional 253,291 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in shares of Pembina Pipeline by 56.9% during the 2nd quarter. Canada Pension Plan Investment Board now owns 8,387,525 shares of the pipeline company’s stock worth $311,142,000 after acquiring an additional 3,043,200 shares in the last quarter. Finally, Intech Investment Management LLC grew its holdings in shares of Pembina Pipeline by 75.4% in the 2nd quarter. Intech Investment Management LLC now owns 68,848 shares of the pipeline company’s stock worth $2,554,000 after acquiring an additional 29,587 shares during the period. Institutional investors and hedge funds own 55.37% of the company’s stock.

Pembina Pipeline Trading Up 0.6 %

Shares of PBA opened at $40.59 on Monday. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.68 and a quick ratio of 0.55. Pembina Pipeline Co. has a 1-year low of $28.15 and a 1-year high of $41.40. The stock has a market cap of $23.54 billion, a price-to-earnings ratio of 17.65, a price-to-earnings-growth ratio of 5.70 and a beta of 1.25. The firm has a 50 day simple moving average of $39.17 and a 200-day simple moving average of $37.20.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last released its quarterly earnings results on Thursday, August 8th. The pipeline company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.21. Pembina Pipeline had a return on equity of 13.68% and a net margin of 23.50%. The company had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter last year, the business posted $0.45 earnings per share. Pembina Pipeline’s revenue was up 30.5% compared to the same quarter last year. Equities analysts forecast that Pembina Pipeline Co. will post 2.38 EPS for the current fiscal year.

Pembina Pipeline Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Monday, September 16th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 4.93%. Pembina Pipeline’s dividend payout ratio (DPR) is 88.70%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. UBS Group started coverage on Pembina Pipeline in a report on Wednesday, September 11th. They set a “neutral” rating for the company. Citigroup lifted their price target on Pembina Pipeline from $53.00 to $56.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 28th. Four investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target 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.