Clearbridge Investments LLC Acquires 622,202 Shares of Pembina Pipeline Co. (NYSE:PBA)

Clearbridge Investments LLC boosted its holdings in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 2,256.3% during the second quarter, Holdings Channel.com reports. The firm owned 649,778 shares of the pipeline company’s stock after acquiring an additional 622,202 shares during the quarter. Clearbridge Investments LLC’s holdings in Pembina Pipeline were worth $24,094,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Granite Group Advisors LLC grew its stake in shares of Pembina Pipeline by 5.2% in the 1st quarter. Granite Group Advisors LLC now owns 6,719 shares of the pipeline company’s stock worth $237,000 after buying an additional 330 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Pembina Pipeline by 30.2% in the second quarter. EverSource Wealth Advisors LLC now owns 1,668 shares of the pipeline company’s stock worth $65,000 after acquiring an additional 387 shares during the last quarter. Gold Investment Management Ltd. increased its holdings in shares of Pembina Pipeline by 4.4% during the second quarter. Gold Investment Management Ltd. now owns 10,562 shares of the pipeline company’s stock valued at $392,000 after acquiring an additional 444 shares in the last quarter. Oppenheimer Asset Management Inc. raised its position in shares of Pembina Pipeline by 2.7% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 18,341 shares of the pipeline company’s stock worth $680,000 after purchasing an additional 478 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in Pembina Pipeline by 3.8% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 13,558 shares of the pipeline company’s stock worth $503,000 after purchasing an additional 500 shares in the last quarter. Institutional investors own 55.37% of the company’s stock.

Pembina Pipeline Trading Up 0.3 %

Shares of PBA stock opened at $42.43 on Friday. The stock has a market capitalization of $24.62 billion, a P/E ratio of 18.45, a P/E/G ratio of 5.68 and a beta of 1.25. The company has a current ratio of 0.68, a quick ratio of 0.55 and a debt-to-equity ratio of 0.77. The firm’s 50 day moving average is $39.82 and its 200 day moving average is $37.55. Pembina Pipeline Co. has a 12-month low of $28.15 and a 12-month high of $42.47.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last issued its quarterly earnings data on Thursday, August 8th. The pipeline company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.54 by $0.21. Pembina Pipeline had a return on equity of 13.68% and a net margin of 23.50%. The company had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same quarter in the previous year, the company posted $0.45 earnings per share. Pembina Pipeline’s revenue was up 30.5% compared to the same quarter last year. Research analysts expect that Pembina Pipeline Co. will post 2.42 earnings per share for the current year.

Pembina Pipeline Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Monday, September 16th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 4.71%. The ex-dividend date of this dividend was Monday, September 16th. Pembina Pipeline’s payout ratio is currently 88.70%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. UBS Group began coverage on shares of Pembina Pipeline in a research note on Wednesday, September 11th. They set a “neutral” rating for the company. Citigroup boosted their price objective on shares of Pembina Pipeline from $53.00 to $56.00 and gave the stock a “neutral” rating in a report on Wednesday, August 28th. Four research analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $56.50.

About Pembina Pipeline

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.