Legal & General Group Plc Buys Shares of 4,307,512 Pembina Pipeline Corp. $PBA

Legal & General Group Plc bought a new position in Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) in the 2nd quarter, HoldingsChannel reports. The fund bought 4,307,512 shares of the pipeline company’s stock, valued at approximately $199,230,000.

Other large investors also recently made changes to their positions in the company. Western Wealth Management LLC acquired a new position in shares of Pembina Pipeline during the first quarter worth approximately $25,000. Tobam acquired a new stake in Pembina Pipeline in the 4th quarter valued at approximately $28,000. Dunhill Financial LLC acquired a new stake in Pembina Pipeline in the 2nd quarter valued at approximately $31,000. N.E.W. Advisory Services LLC bought a new stake in Pembina Pipeline during the 2nd quarter valued at $31,000. Finally, Caitong International Asset Management Co. Ltd bought a new stake in Pembina Pipeline during the 3rd quarter valued at $31,000. Institutional investors and hedge funds own 55.37% of the company’s stock.

Pembina Pipeline Stock Up 1.1%

Shares of PBA stock opened at $48.61 on Thursday. Pembina Pipeline Corp. has a 1 year low of $36.20 and a 1 year high of $51.58. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.50 and a current ratio of 0.62. The business’s fifty day moving average is $48.51 and its 200-day moving average is $46.54. The stock has a market cap of $28.27 billion, a PE ratio of 23.83 and a beta of 0.57.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last announced its quarterly earnings data on Thursday, July 30th. The pipeline company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.01). Pembina Pipeline had a net margin of 22.41% and a return on equity of 11.41%. The firm had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same quarter last year, the company earned $0.65 EPS. The company’s quarterly revenue was up 20.1% compared to the same quarter last year. Equities analysts expect that Pembina Pipeline Corp. will post 2.23 earnings per share for the current fiscal year.

Pembina Pipeline Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be issued a $0.735 dividend. This represents a $2.94 dividend on an annualized basis and a yield of 6.0%. The ex-dividend date of this dividend is Tuesday, September 15th. Pembina Pipeline’s dividend payout ratio is presently 104.41%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Weiss Ratings cut Pembina Pipeline from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, August 18th. TD Securities restated a “buy” rating on shares of Pembina Pipeline in a research note on Thursday, July 16th. Barclays reaffirmed an “overweight” rating on shares of Pembina Pipeline in a report on Thursday, May 21st. Wall Street Zen raised shares of Pembina Pipeline from a “sell” rating to a “hold” rating in a research note on Saturday, July 25th. Finally, Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Pembina Pipeline in a research report on Friday, July 3rd. Five equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Pembina Pipeline presently has an average rating of “Moderate Buy” and an average price target of $64.00.

Pembina Pipeline Company 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.