ClearBridge Investments Ltd Has $193.56 Million Stock Position in Pembina Pipeline Co. (NYSE:PBA)

ClearBridge Investments Ltd lowered its holdings in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 15.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,238,312 shares of the pipeline company’s stock after selling 973,845 shares during the period. Pembina Pipeline comprises about 5.1% of ClearBridge Investments Ltd’s investment portfolio, making the stock its 7th biggest holding. ClearBridge Investments Ltd’s holdings in Pembina Pipeline were worth $193,556,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PBA. Safe Harbor Fiduciary LLC acquired a new position in Pembina Pipeline during the 3rd quarter valued at approximately $26,000. Dunhill Financial LLC bought a new stake in Pembina Pipeline in the third quarter valued at $28,000. Versant Capital Management Inc bought a new position in shares of Pembina Pipeline during the fourth quarter worth about $27,000. Sound Income Strategies LLC acquired a new stake in shares of Pembina Pipeline in the 4th quarter worth about $27,000. Finally, Eastern Bank bought a new stake in Pembina Pipeline in the 4th quarter valued at about $29,000. 55.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Pembina Pipeline Stock Up 0.1 %

Shares of Pembina Pipeline stock opened at $39.91 on Friday. The stock has a 50-day simple moving average of $37.59 and a 200-day simple moving average of $39.29. Pembina Pipeline Co. has a 52-week low of $33.83 and a 52-week high of $43.44. The firm has a market cap of $23.17 billion, a price-to-earnings ratio of 16.49 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 declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be paid a dividend of $0.4783 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.91 annualized dividend and a dividend yield of 4.79%. Pembina Pipeline’s dividend payout ratio (DPR) is 86.76%.

Pembina Pipeline Company 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.