Clearbridge Investments LLC Reduces Stake in Pembina Pipeline Corp. $PBA

Clearbridge Investments LLC decreased its stake in shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 2.9% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,635,257 shares of the pipeline company’s stock after selling 48,978 shares during the period. Clearbridge Investments LLC owned 0.28% of Pembina Pipeline worth $62,238,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd purchased a new stake in Pembina Pipeline during the 3rd quarter worth about $31,000. Larson Financial Group LLC lifted its holdings in Pembina Pipeline by 32.4% during the 3rd quarter. Larson Financial Group LLC now owns 1,059 shares of the pipeline company’s stock worth $43,000 after purchasing an additional 259 shares in the last quarter. Fulcrum Asset Management LLP purchased a new stake in Pembina Pipeline during the 3rd quarter worth about $46,000. IFP Advisors Inc lifted its holdings in Pembina Pipeline by 74.8% during the 4th quarter. IFP Advisors Inc now owns 1,199 shares of the pipeline company’s stock worth $46,000 after purchasing an additional 513 shares in the last quarter. Finally, Parallel Advisors LLC lifted its holdings in Pembina Pipeline by 43.3% during the 4th quarter. Parallel Advisors LLC now owns 1,446 shares of the pipeline company’s stock worth $55,000 after purchasing an additional 437 shares in the last quarter. Hedge funds and other institutional investors own 55.37% of the company’s stock.

Pembina Pipeline Stock Performance

NYSE:PBA opened at $48.36 on Tuesday. The business’s 50-day moving average price is $45.98 and its two-hundred day moving average price is $42.66. Pembina Pipeline Corp. has a twelve month low of $35.45 and a twelve month high of $50.10. The stock has a market cap of $28.12 billion, a P/E ratio of 25.19 and a beta of 0.57. The company has a quick ratio of 0.68, a current ratio of 0.83 and a debt-to-equity ratio of 0.84.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last released its quarterly earnings results on Thursday, May 7th. The pipeline company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.07. Pembina Pipeline had a return on equity of 11.47% and a net margin of 22.22%.The firm had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter last year, the firm posted $0.80 EPS. The company’s revenue was down 7.7% compared to the same quarter last year. As a group, equities analysts predict that Pembina Pipeline Corp. will post 2.28 EPS for the current fiscal year.

Pembina Pipeline Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be given a dividend of $0.735 per share. This is a boost from Pembina Pipeline’s previous quarterly dividend of $0.71. The ex-dividend date is Monday, June 15th. This represents a $2.94 annualized dividend and a dividend yield of 6.1%. Pembina Pipeline’s dividend payout ratio is currently 108.33%.

Analyst Ratings Changes

A number of brokerages recently issued reports on PBA. BMO Capital Markets reissued a “market perform” rating on shares of Pembina Pipeline in a report on Tuesday, May 26th. Wall Street Zen raised Pembina Pipeline from a “sell” rating to a “hold” rating in a report on Sunday, May 10th. TD Securities raised Pembina Pipeline from a “hold” rating to a “buy” rating in a report on Tuesday, May 26th. Barclays reaffirmed an “overweight” rating on shares of Pembina Pipeline in a report on Thursday, May 21st. Finally, JPMorgan Chase & Co. raised their price target on Pembina Pipeline from $55.00 to $60.00 and gave the company a “neutral” rating in a report on Thursday, March 19th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $62.67.

Pembina Pipeline Profile

Pembina Pipeline Corporation (NYSE: PBA) is a North American energy infrastructure company that develops, owns and operates midstream assets that transport, store and process hydrocarbons. Its core business focuses on the transportation of crude oil, natural gas liquids (NGLs) and condensate, along with gas processing, fractionation, storage and related marketing services. Pembina serves producers, refiners and other energy companies by providing pipeline capacity, terminal services and midstream solutions that link upstream production to downstream markets and export facilities.

The company’s asset base is concentrated in Western Canada, including major operations in Alberta and British Columbia, and it also has operations and commercial activities that extend into the United States.