Clearbridge Investments LLC Boosts Stock Holdings in Pembina Pipeline Co. (NYSE:PBA)

Clearbridge Investments LLC increased its position in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 101.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,279,008 shares of the pipeline company’s stock after acquiring an additional 643,238 shares during the period. Clearbridge Investments LLC owned about 0.22% of Pembina Pipeline worth $47,259,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Van ECK Associates Corp raised its stake in shares of Pembina Pipeline by 8.0% in the fourth quarter. Van ECK Associates Corp now owns 225,684 shares of the pipeline company’s stock worth $8,335,000 after purchasing an additional 16,762 shares during the last quarter. JPMorgan Chase & Co. raised its position in Pembina Pipeline by 18.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,049,470 shares of the pipeline company’s stock worth $167,000,000 after buying an additional 624,958 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in Pembina Pipeline by 1.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 22,903 shares of the pipeline company’s stock valued at $846,000 after acquiring an additional 348 shares during the period. Jennison Associates LLC boosted its holdings in shares of Pembina Pipeline by 32.3% during the 4th quarter. Jennison Associates LLC now owns 616,992 shares of the pipeline company’s stock valued at $22,786,000 after acquiring an additional 150,689 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Pembina Pipeline by 0.5% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,249,624 shares of the pipeline company’s stock valued at $230,610,000 after purchasing an additional 32,519 shares during the last quarter. 55.37% of the stock is owned by institutional investors.

Pembina Pipeline Stock Up 1.2 %

Shares of PBA opened at $40.50 on Wednesday. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.65 and a quick ratio of 0.51. The stock has a market capitalization of $23.52 billion, a price-to-earnings ratio of 16.74 and a beta of 1.26. Pembina Pipeline Co. has a 1 year low of $33.83 and a 1 year high of $43.44. The business’s 50 day simple moving average is $37.70 and its 200-day simple moving average is $39.27.

Pembina Pipeline Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were paid a $0.4783 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $1.91 dividend on an annualized basis and a dividend yield of 4.72%. Pembina Pipeline’s payout ratio is currently 86.76%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Citigroup raised Pembina Pipeline from a “neutral” rating to a “buy” rating in a report on Monday, March 10th. TD Securities started coverage on Pembina Pipeline in a report on Wednesday, January 15th. They issued a “buy” rating on the stock. Barclays began coverage on Pembina Pipeline in a research note on Thursday, December 12th. They set an “overweight” rating for the company. Finally, Wells Fargo & Company cut shares of Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $56.50.

Pembina Pipeline 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.