Legal & General Group Plc Boosts Holdings in Pembina Pipeline Corp. $PBA

Legal & General Group Plc grew its stake in Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 1.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,378,276 shares of the pipeline company’s stock after purchasing an additional 64,250 shares during the quarter. Legal & General Group Plc’s holdings in Pembina Pipeline were worth $177,064,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. JARISLOWSKY FRASER Ltd raised its position in shares of Pembina Pipeline by 1,894.9% during the 3rd quarter. JARISLOWSKY FRASER Ltd now owns 8,814,455 shares of the pipeline company’s stock worth $356,468,000 after purchasing an additional 8,372,612 shares during the last quarter. Norges Bank acquired a new stake in Pembina Pipeline in the 2nd quarter worth about $229,613,000. CIBC Asset Management Inc increased its stake in Pembina Pipeline by 47.4% during the 2nd quarter. CIBC Asset Management Inc now owns 7,547,536 shares of the pipeline company’s stock worth $283,823,000 after buying an additional 2,427,939 shares in the last quarter. MUFG Securities EMEA plc purchased a new stake in Pembina Pipeline during the 2nd quarter worth approximately $52,514,000. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Pembina Pipeline by 29.4% during the second quarter. The Manufacturers Life Insurance Company now owns 5,169,664 shares of the pipeline company’s stock valued at $193,094,000 after acquiring an additional 1,174,204 shares during the last quarter. Hedge funds and other institutional investors own 55.37% of the company’s stock.

Pembina Pipeline Price Performance

Pembina Pipeline stock opened at $44.51 on Friday. The company has a current ratio of 0.61, a quick ratio of 0.47 and a debt-to-equity ratio of 0.80. The company has a 50-day moving average price of $41.72 and a 200 day moving average price of $39.66. Pembina Pipeline Corp. has a 12-month low of $34.13 and a 12-month high of $45.09. The stock has a market cap of $25.86 billion, a P/E ratio of 23.43 and a beta of 0.68.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last posted its earnings results on Thursday, February 26th. The pipeline company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.06. The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.41 billion. Pembina Pipeline had a net margin of 21.76% and a return on equity of 11.17%. Pembina Pipeline’s revenue was down 10.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.92 EPS. Sell-side analysts anticipate that Pembina Pipeline Corp. will post 2.15 earnings per share for the current year.

Pembina Pipeline Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 16th will be issued a $0.71 dividend. The ex-dividend date is Monday, March 16th. This represents a $2.84 dividend on an annualized basis and a yield of 6.4%. Pembina Pipeline’s dividend payout ratio is currently 106.84%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PBA. BMO Capital Markets restated a “market perform” rating on shares of Pembina Pipeline in a research report on Friday, February 27th. Weiss Ratings upgraded Pembina Pipeline from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 2nd. TD Securities downgraded Pembina Pipeline from a “buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Finally, Zacks Research upgraded Pembina Pipeline from a “strong sell” rating to a “hold” rating in a report on Friday, January 23rd. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $60.00.

Pembina Pipeline Company Profile

Pembina Pipeline Corporation (NYSE: PBA) is a North American energy infrastructure company that develops, owns and operates midstream assets that transport, store and process hydrocarbons. Its core business focuses on the transportation of crude oil, natural gas liquids (NGLs) and condensate, along with gas processing, fractionation, storage and related marketing services. Pembina serves producers, refiners and other energy companies by providing pipeline capacity, terminal services and midstream solutions that link upstream production to downstream markets and export facilities.

The company’s asset base is concentrated in Western Canada, including major operations in Alberta and British Columbia, and it also has operations and commercial activities that extend into the United States.