Pembina Pipeline Co. (NYSE:PBA) Shares Sold by ClearBridge Investments Ltd

ClearBridge Investments Ltd cut its stake in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 15.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,238,312 shares of the pipeline company’s stock after selling 973,845 shares during the period. Pembina Pipeline accounts for about 5.1% of ClearBridge Investments Ltd’s portfolio, making the stock its 7th largest position. ClearBridge Investments Ltd owned about 0.90% of Pembina Pipeline worth $193,556,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in PBA. Safe Harbor Fiduciary LLC acquired a new position in shares of Pembina Pipeline in the 3rd quarter valued at $26,000. Dunhill Financial LLC acquired a new stake in shares of Pembina Pipeline in the 3rd quarter worth $28,000. Versant Capital Management Inc purchased a new stake in shares of Pembina Pipeline during the 4th quarter valued at approximately $27,000. Sound Income Strategies LLC acquired a new position in shares of Pembina Pipeline in the 4th quarter worth approximately $27,000. Finally, Eastern Bank acquired a new position in Pembina Pipeline during the fourth quarter worth $29,000. 55.37% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PBA. Wells Fargo & Company cut Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Barclays initiated coverage on Pembina Pipeline in a report on Thursday, December 12th. They issued an “overweight” rating for the company. TD Securities started coverage on Pembina Pipeline in a research report on Wednesday, January 15th. They set a “buy” rating on the stock. Finally, Citigroup upgraded shares of Pembina Pipeline from a “neutral” rating to a “buy” rating in a research note on Monday, March 10th. Four 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 company has a consensus rating of “Moderate Buy” and a consensus price target of $56.50.

Pembina Pipeline Stock Performance

NYSE PBA opened at $39.91 on Friday. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.65 and a quick ratio of 0.51. Pembina Pipeline Co. has a 1-year low of $33.83 and a 1-year high of $43.44. The firm has a market capitalization of $23.17 billion, a P/E ratio of 16.49 and a beta of 1.26. The business’s 50-day simple moving average is $37.59 and its 200-day simple moving average is $39.29.

Pembina Pipeline Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be paid a dividend of $0.4783 per share. This represents a $1.91 annualized dividend and a dividend yield of 4.79%. The ex-dividend date is Monday, March 17th. Pembina Pipeline’s dividend payout ratio (DPR) is currently 86.76%.

Pembina Pipeline Company 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.