Westwood Holdings Group Inc. Lowers Holdings in Pembina Pipeline Co. (NYSE:PBA)

Westwood Holdings Group Inc. lowered its stake in shares of Pembina Pipeline Co. (NYSE:PBA - Free Report) TSE: PPL by 22.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,727,080 shares of the pipeline company's stock after selling 498,836 shares during the period. Westwood Holdings Group Inc. owned 0.30% of Pembina Pipeline worth $64,040,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank purchased a new stake in shares of Pembina Pipeline during the 4th quarter worth $133,917,000. Canada Pension Plan Investment Board lifted its position in shares of Pembina Pipeline by 56.9% during the second quarter. Canada Pension Plan Investment Board now owns 8,387,525 shares of the pipeline company's stock valued at $311,142,000 after buying an additional 3,043,200 shares during the last quarter. Capital World Investors bought a new stake in shares of Pembina Pipeline in the 4th quarter valued at about $32,541,000. ClearBridge Investments Ltd grew its position in shares of Pembina Pipeline by 12.3% in the 1st quarter. ClearBridge Investments Ltd now owns 7,173,059 shares of the pipeline company's stock worth $253,496,000 after buying an additional 784,814 shares during the last quarter. Finally, Kayne Anderson Capital Advisors LP raised its stake in shares of Pembina Pipeline by 31.1% during the 1st quarter. Kayne Anderson Capital Advisors LP now owns 2,969,440 shares of the pipeline company's stock worth $104,940,000 after acquiring an additional 704,249 shares in the last quarter. Institutional investors own 55.37% of the company's stock.

Pembina Pipeline Stock Performance

NYSE:PBA traded up $0.24 during trading hours on Friday, hitting $40.59. 1,704,368 shares of the company were exchanged, compared to its average volume of 1,523,957. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.68 and a quick ratio of 0.55. Pembina Pipeline Co. has a 52-week low of $28.15 and a 52-week high of $41.40. The stock has a market capitalization of $23.54 billion, a price-to-earnings ratio of 17.65, a PEG ratio of 5.70 and a beta of 1.25. The company's 50 day moving average price is $39.17 and its 200-day moving average price is $37.16.

Pembina Pipeline (NYSE:PBA - Get Free Report) TSE: PPL last announced its quarterly earnings data on Thursday, August 8th. The pipeline company reported $0.75 earnings per share for the quarter, beating analysts' consensus estimates of $0.54 by $0.21. The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.44 billion. Pembina Pipeline had a net margin of 23.50% and a return on equity of 13.68%. The business's quarterly revenue was up 30.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.45 earnings per share. As a group, research analysts forecast that Pembina Pipeline Co. will post 2.38 earnings per share for the current year.

Pembina Pipeline Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Monday, September 16th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.93%. The ex-dividend date of this dividend is Monday, September 16th. Pembina Pipeline's dividend payout ratio (DPR) is 88.70%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on PBA shares. UBS Group started coverage on shares of Pembina Pipeline in a research note on Wednesday, September 11th. They issued a "neutral" rating for the company. Citigroup raised their price objective on Pembina Pipeline from $53.00 to $56.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 28th. Four equities research analysts have rated the stock with a hold rating, According to data from 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.