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

Clearbridge Investments LLC raised its stake in shares of Pembina Pipeline Co. (NYSE:PBA - Free Report) TSE: PPL by 101.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,279,008 shares of the pipeline company's stock after purchasing an additional 643,238 shares during the period. Clearbridge Investments LLC owned 0.22% of Pembina Pipeline worth $47,259,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of PBA. Norges Bank purchased a new position in shares of Pembina Pipeline during the 4th quarter worth about $171,860,000. Arrowstreet Capital Limited Partnership purchased a new position in shares of Pembina Pipeline during the fourth quarter valued at approximately $73,073,000. Hillsdale Investment Management Inc. grew its stake in shares of Pembina Pipeline by 338.7% during the fourth quarter. Hillsdale Investment Management Inc. now owns 1,289,706 shares of the pipeline company's stock valued at $47,598,000 after buying an additional 995,735 shares during the last quarter. AGF Management Ltd. grew its stake in shares of Pembina Pipeline by 612.7% during the fourth quarter. AGF Management Ltd. now owns 1,080,853 shares of the pipeline company's stock valued at $40,025,000 after buying an additional 929,206 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Pembina Pipeline by 3.2% in the fourth quarter. Vanguard Group Inc. now owns 24,887,077 shares of the pipeline company's stock worth $919,503,000 after buying an additional 770,729 shares during the period. 55.37% of the stock is owned by institutional investors.

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Pembina Pipeline Stock Down 8.0 %

Shares of PBA traded down $3.23 during trading hours on Friday, hitting $37.17. The company had a trading volume of 2,017,633 shares, compared to its average volume of 1,264,419. The company has a current ratio of 0.65, a quick ratio of 0.51 and a debt-to-equity ratio of 0.79. The company has a market capitalization of $21.58 billion, a PE ratio of 15.36 and a beta of 1.26. Pembina Pipeline Co. has a one year low of $33.83 and a one year high of $43.44. The company's fifty day moving average price is $37.84 and its two-hundred day moving average price is $39.29.

Pembina Pipeline Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were given a $0.4783 dividend. This represents a $1.91 dividend on an annualized basis and a dividend yield of 5.15%. The ex-dividend date of this dividend was Monday, March 17th. Pembina Pipeline's payout ratio is currently 86.76%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on PBA shares. Barclays assumed coverage on Pembina Pipeline in a research report on Thursday, December 12th. They issued an "overweight" rating on the stock. Wells Fargo & Company lowered Pembina Pipeline from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, December 18th. TD Securities began coverage on Pembina Pipeline in a research report on Wednesday, January 15th. They set a "buy" rating on the stock. Finally, Citigroup upgraded Pembina Pipeline from a "neutral" rating to a "buy" rating in a report on Monday, March 10th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus 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.