Legal & General Group Plc Buys 83,284 Shares of Pembina Pipeline Corp. $PBA

Legal & General Group Plc boosted its stake in shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 1.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,461,560 shares of the pipeline company’s stock after purchasing an additional 83,284 shares during the quarter. Legal & General Group Plc’s holdings in Pembina Pipeline were worth $170,194,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd bought a new stake in Pembina Pipeline during the third quarter valued at about $31,000. Westside Investment Management Inc. boosted its position in Pembina Pipeline by 100.0% during the third quarter. Westside Investment Management Inc. now owns 808 shares of the pipeline company’s stock valued at $32,000 after purchasing an additional 404 shares in the last quarter. Physician Wealth Advisors Inc. boosted its position in Pembina Pipeline by 441.2% during the third quarter. Physician Wealth Advisors Inc. now owns 920 shares of the pipeline company’s stock valued at $37,000 after purchasing an additional 750 shares in the last quarter. Golden State Wealth Management LLC bought a new stake in Pembina Pipeline during the third quarter valued at about $40,000. Finally, Larson Financial Group LLC boosted its position in Pembina Pipeline by 32.4% during the third quarter. Larson Financial Group LLC now owns 1,059 shares of the pipeline company’s stock valued at $43,000 after purchasing an additional 259 shares in the last quarter. Institutional investors own 55.37% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on PBA. Weiss Ratings raised Pembina Pipeline from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 2nd. Wall Street Zen upgraded Pembina Pipeline from a “sell” rating to a “hold” rating in a research note on Sunday, May 10th. Barclays reissued an “overweight” rating on shares of Pembina Pipeline in a report on Thursday, May 21st. BMO Capital Markets reissued a “market perform” rating on shares of Pembina Pipeline in a report on Tuesday. Finally, Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Pembina Pipeline in a report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Pembina Pipeline has an average rating of “Moderate Buy” and an average target price of $62.67.

Pembina Pipeline Stock Down 1.5%

Pembina Pipeline stock opened at $47.55 on Thursday. The firm has a market cap of $27.64 billion, a price-to-earnings ratio of 24.76 and a beta of 0.58. Pembina Pipeline Corp. has a 52 week low of $35.45 and a 52 week high of $50.10. The business’s 50-day moving average price is $45.46 and its 200 day moving average price is $42.10. The company has a quick ratio of 0.68, a current ratio of 0.83 and a debt-to-equity ratio of 0.84.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last posted its earnings results on Thursday, May 7th. The pipeline company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.52 by $0.07. The firm had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.06 billion. Pembina Pipeline had a return on equity of 11.47% and a net margin of 22.22%.Pembina Pipeline’s revenue for the quarter was down 7.7% compared to the same quarter last year. During the same period last year, the company earned $0.80 earnings per share. As a group, sell-side analysts anticipate that Pembina Pipeline Corp. will post 2.28 earnings per share for the current year.

Pembina Pipeline Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be issued a dividend of $0.735 per share. This represents a $2.94 annualized dividend and a yield of 6.2%. This is a positive change from Pembina Pipeline’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Monday, June 15th. Pembina Pipeline’s dividend payout ratio is 108.33%.

Pembina Pipeline 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.