Clearbridge Investments LLC Sells 48,978 Shares of Pembina Pipeline Corp. $PBA

Clearbridge Investments LLC cut its position in shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 2.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,635,257 shares of the pipeline company’s stock after selling 48,978 shares during the quarter. Clearbridge Investments LLC’s holdings in Pembina Pipeline were worth $62,238,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd bought a new position in shares of Pembina Pipeline during the 3rd quarter valued at about $31,000. Larson Financial Group LLC increased its position in shares of Pembina Pipeline by 32.4% during the 3rd quarter. Larson Financial Group LLC now owns 1,059 shares of the pipeline company’s stock valued at $43,000 after purchasing an additional 259 shares during the last quarter. IFP Advisors Inc increased its position in shares of Pembina Pipeline by 74.8% during the 4th quarter. IFP Advisors Inc now owns 1,199 shares of the pipeline company’s stock valued at $46,000 after purchasing an additional 513 shares during the last quarter. Fulcrum Asset Management LLP bought a new position in shares of Pembina Pipeline during the 3rd quarter valued at about $46,000. Finally, Parallel Advisors LLC increased its position in shares of Pembina Pipeline by 43.3% during the 4th quarter. Parallel Advisors LLC now owns 1,446 shares of the pipeline company’s stock valued at $55,000 after purchasing an additional 437 shares during the last quarter. 55.37% of the stock is currently owned by institutional investors.

Pembina Pipeline Trading Down 0.9%

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

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last released its quarterly earnings data on Thursday, May 7th. The pipeline company reported $0.59 earnings per share for the quarter, topping 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 business had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter last year, the business posted $0.80 EPS. The business’s revenue was down 7.7% on a year-over-year basis. On average, analysts forecast that Pembina Pipeline Corp. will post 2.28 earnings per share for the current year.

Pembina Pipeline Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be issued a $0.735 dividend. This is an increase 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 yield of 6.1%. Pembina Pipeline’s dividend payout ratio (DPR) is 108.33%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on PBA shares. JPMorgan Chase & Co. raised their price target on Pembina Pipeline from $55.00 to $60.00 and gave the stock a “neutral” rating in a research report on Thursday, March 19th. Wall Street Zen upgraded Pembina Pipeline from a “sell” rating to a “hold” rating in a research report on Sunday, May 10th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Pembina Pipeline in a research report on Tuesday, May 26th. Royal Bank Of Canada raised their price target on Pembina Pipeline from $64.00 to $68.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Finally, Weiss Ratings upgraded Pembina Pipeline from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 2nd. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.