Clearbridge Investments LLC Grows Stock Position in Pembina Pipeline Co. (NYSE:PBA)

Clearbridge Investments LLC boosted its position in shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 101.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,279,008 shares of the pipeline company’s stock after buying an additional 643,238 shares during the quarter. Clearbridge Investments LLC’s holdings in Pembina Pipeline were worth $47,259,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of PBA. Safe Harbor Fiduciary LLC purchased a new position in shares of Pembina Pipeline during the 3rd quarter worth about $26,000. Versant Capital Management Inc bought a new stake in Pembina Pipeline in the fourth quarter worth about $27,000. Sound Income Strategies LLC bought a new stake in Pembina Pipeline in the fourth quarter worth about $27,000. Dunhill Financial LLC purchased a new position in shares of Pembina Pipeline during the third quarter valued at approximately $28,000. Finally, Eastern Bank bought a new position in shares of Pembina Pipeline during the fourth quarter valued at approximately $29,000. Institutional investors own 55.37% of the company’s stock.

Wall Street Analyst Weigh In

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

Pembina Pipeline Stock Performance

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

Pembina Pipeline Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were paid a dividend of $0.4783 per share. 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 dividend payout ratio is presently 86.76%.

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.