Pembina Pipeline Corp. $PBA Shares Purchased by Legal & General Group Plc

Legal & General Group Plc increased its holdings in shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 1.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,378,276 shares of the pipeline company’s stock after purchasing an additional 64,250 shares during the period. Legal & General Group Plc owned approximately 0.75% of Pembina Pipeline worth $177,064,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AQR Capital Management LLC acquired a new stake in Pembina Pipeline during the 1st quarter worth about $374,000. Focus Partners Wealth acquired a new position in shares of Pembina Pipeline in the 1st quarter valued at about $312,000. Bank of New York Mellon Corp boosted its stake in shares of Pembina Pipeline by 6.2% in the second quarter. Bank of New York Mellon Corp now owns 527,642 shares of the pipeline company’s stock worth $19,792,000 after buying an additional 30,613 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Pembina Pipeline in the second quarter worth about $304,000. Finally, ProShare Advisors LLC grew its holdings in Pembina Pipeline by 5.6% during the second quarter. ProShare Advisors LLC now owns 61,514 shares of the pipeline company’s stock worth $2,310,000 after acquiring an additional 3,242 shares during the period. 55.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PBA has been the subject of several recent research reports. Zacks Research upgraded Pembina Pipeline from a “strong sell” rating to a “hold” rating in a research report on Friday, January 23rd. BMO Capital Markets reaffirmed a “market perform” rating on shares of Pembina Pipeline in a research note on Friday, February 27th. TD Securities lowered shares of Pembina Pipeline from a “buy” rating to a “hold” rating in a report on Tuesday, February 17th. Finally, Weiss Ratings upgraded shares of Pembina Pipeline from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 2nd. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Pembina Pipeline has a consensus rating of “Hold” and a consensus target price of $60.00.

Pembina Pipeline Price Performance

Shares of Pembina Pipeline stock opened at $44.51 on Friday. The firm has a market cap of $25.86 billion, a PE ratio of 23.43 and a beta of 0.68. Pembina Pipeline Corp. has a twelve month low of $34.13 and a twelve month high of $45.09. The company has a quick ratio of 0.47, a current ratio of 0.61 and a debt-to-equity ratio of 0.80. The business has a 50-day moving average price of $41.72 and a 200 day moving average price of $39.66.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last issued its quarterly earnings results on Thursday, February 26th. The pipeline company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.06. Pembina Pipeline had a return on equity of 11.17% and a net margin of 21.76%.The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter in the prior year, the business posted $0.92 earnings per share. Pembina Pipeline’s revenue for the quarter was down 10.8% on a year-over-year basis. Sell-side analysts predict that Pembina Pipeline Corp. will post 2.15 earnings per share for the current fiscal year.

Pembina Pipeline Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th will be given a dividend of $0.71 per share. The ex-dividend date is Monday, March 16th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 6.4%. Pembina Pipeline’s dividend payout ratio (DPR) is 106.84%.

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.