Legal & General Group Plc Has $161.66 Million Stock Position in Pembina Pipeline Corp. $PBA

Legal & General Group Plc lowered its position in Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 5.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,314,026 shares of the pipeline company’s stock after selling 241,697 shares during the period. Legal & General Group Plc’s holdings in Pembina Pipeline were worth $161,663,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. MAI Capital Management raised its position in shares of Pembina Pipeline by 2.9% during the second quarter. MAI Capital Management now owns 10,664 shares of the pipeline company’s stock worth $400,000 after purchasing an additional 302 shares during the period. Hillsdale Investment Management Inc. raised its holdings in Pembina Pipeline by 71.9% during the second quarter. Hillsdale Investment Management Inc. now owns 1,057,273 shares of the pipeline company’s stock worth $39,727,000 after buying an additional 442,278 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Pembina Pipeline by 0.3% in the second quarter. JPMorgan Chase & Co. now owns 3,363,809 shares of the pipeline company’s stock valued at $126,176,000 after buying an additional 8,574 shares in the last quarter. Swiss National Bank grew its holdings in shares of Pembina Pipeline by 6.8% during the second quarter. Swiss National Bank now owns 1,764,496 shares of the pipeline company’s stock valued at $65,998,000 after buying an additional 112,400 shares during the last quarter. Finally, Prudential PLC grew its holdings in shares of Pembina Pipeline by 45.3% during the second quarter. Prudential PLC now owns 8,682 shares of the pipeline company’s stock valued at $326,000 after buying an additional 2,705 shares during the last quarter. Institutional investors own 55.37% of the company’s stock.

Pembina Pipeline Stock Performance

Shares of Pembina Pipeline stock opened at $38.20 on Monday. The business’s fifty day simple moving average is $38.90 and its 200 day simple moving average is $37.90. The company has a current ratio of 0.77, a quick ratio of 0.62 and a debt-to-equity ratio of 0.81. Pembina Pipeline Corp. has a 12 month low of $34.13 and a 12 month high of $43.44. The firm has a market capitalization of $22.19 billion, a P/E ratio of 17.93 and a beta of 0.75.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last announced its quarterly earnings data on Thursday, November 6th. The pipeline company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.14). The business had revenue of $911.47 million during the quarter, compared to the consensus estimate of $1.42 billion. Pembina Pipeline had a net margin of 23.24% and a return on equity of 12.27%. The firm’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.60 EPS. As a group, analysts anticipate that Pembina Pipeline Corp. will post 2.15 EPS for the current year.

Pembina Pipeline Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be given a $0.71 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $2.84 annualized dividend and a yield of 7.4%. Pembina Pipeline’s payout ratio is currently 101.00%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Wall Street Zen lowered shares of Pembina Pipeline from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Wells Fargo & Company downgraded Pembina Pipeline from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 6th. BMO Capital Markets restated an “outperform” rating on shares of Pembina Pipeline in a report on Monday, August 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Pembina Pipeline in a research report on Wednesday. Finally, Raymond James Financial reissued an “outperform” rating on shares of Pembina Pipeline in a research report on Monday, August 11th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy”.

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.