ClearBridge Investments Ltd trimmed its position in shares of Pembina Pipeline Co. (NYSE:PBA - Free Report) TSE: PPL by 15.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,238,312 shares of the pipeline company's stock after selling 973,845 shares during the quarter. Pembina Pipeline makes up about 5.1% of ClearBridge Investments Ltd's portfolio, making the stock its 7th biggest holding. ClearBridge Investments Ltd owned 0.90% of Pembina Pipeline worth $193,556,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in PBA. Norges Bank acquired a new position in Pembina Pipeline in the 4th quarter worth about $171,860,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Pembina Pipeline in the fourth quarter valued at approximately $73,073,000. Hillsdale Investment Management Inc. raised its stake in shares of Pembina Pipeline by 338.7% during the 4th quarter. Hillsdale Investment Management Inc. now owns 1,289,706 shares of the pipeline company's stock worth $47,598,000 after buying an additional 995,735 shares during the period. AGF Management Ltd. lifted its position in shares of Pembina Pipeline by 612.7% during the 4th 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 in the last quarter. Finally, Vanguard Group Inc. grew its stake in Pembina Pipeline by 3.2% in the 4th quarter. Vanguard Group Inc. now owns 24,887,077 shares of the pipeline company's stock valued at $919,503,000 after acquiring an additional 770,729 shares during the period. 55.37% of the stock is currently owned by institutional investors and hedge funds.
Pembina Pipeline Price Performance
Shares of PBA stock traded down $0.41 during trading hours on Thursday, reaching $40.47. The company had a trading volume of 369,371 shares, compared to its average volume of 1,257,562. Pembina Pipeline Co. has a 12-month low of $33.83 and a 12-month high of $43.44. The company has a market capitalization of $23.50 billion, a price-to-earnings ratio of 16.72 and a beta of 1.26. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.51 and a current ratio of 0.65. The stock has a fifty day moving average of $37.77 and a 200-day moving average of $39.28.
Pembina Pipeline Cuts Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were given a dividend of $0.4783 per share. This represents a $1.91 annualized dividend and a yield of 4.73%. The ex-dividend date of this dividend was Monday, March 17th. Pembina Pipeline's payout ratio is currently 86.76%.
Wall Street Analyst Weigh In
Several equities analysts have issued reports on the stock. Wells Fargo & Company downgraded shares of Pembina Pipeline from a "strong-buy" rating to a "hold" rating in a report on Wednesday, December 18th. TD Securities initiated coverage on Pembina Pipeline in a report on Wednesday, January 15th. They issued a "buy" rating on the stock. Citigroup raised Pembina Pipeline from a "neutral" rating to a "buy" rating in a report on Monday, March 10th. Finally, Barclays started coverage on Pembina Pipeline in a research note on Thursday, December 12th. They issued an "overweight" rating on the stock. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $56.50.
View Our Latest Analysis on PBA
About Pembina Pipeline
(
Free Report)
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.
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