Blackstone Inc. Sells 2,877,683 Shares of Pembina Pipeline Co. (NYSE:PBA)

Blackstone Inc. trimmed its position in shares of Pembina Pipeline Co. (NYSE:PBA - Free Report) TSE: PPL by 37.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,745,771 shares of the pipeline company's stock after selling 2,877,683 shares during the quarter. Pembina Pipeline accounts for 0.8% of Blackstone Inc.'s investment portfolio, making the stock its 22nd largest holding. Blackstone Inc. owned 0.82% of Pembina Pipeline worth $175,356,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Norges Bank acquired a new position in Pembina Pipeline during the fourth quarter worth $171,860,000. Arrowstreet Capital Limited Partnership bought a new position in Pembina Pipeline in the 4th quarter valued at about $73,073,000. Hillsdale Investment Management Inc. lifted its position in Pembina Pipeline by 338.7% in the 4th quarter. Hillsdale Investment Management Inc. now owns 1,289,706 shares of the pipeline company's stock valued at $47,598,000 after acquiring an additional 995,735 shares in the last quarter. AGF Management Ltd. boosted its stake in 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 purchasing an additional 929,206 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Pembina Pipeline by 30.4% during the 4th quarter. Geode Capital Management LLC now owns 3,539,660 shares of the pipeline company's stock worth $133,449,000 after purchasing an additional 824,232 shares in the last quarter. 55.37% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PBA. TD Securities assumed coverage on Pembina Pipeline in a research report on Wednesday, January 15th. They set a "buy" rating on the stock. Citigroup raised shares of Pembina Pipeline from a "neutral" rating to a "buy" rating in a report on Monday, March 10th. Four investment 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 $56.00.

Pembina Pipeline Stock Performance

Pembina Pipeline stock traded down $2.00 during mid-day trading on Friday, reaching $37.41. 2,469,883 shares of the company's stock were exchanged, compared to its average volume of 1,266,895. The firm has a market capitalization of $21.73 billion, a PE ratio of 15.46 and a beta of 0.81. The company has a quick ratio of 0.51, a current ratio of 0.65 and a debt-to-equity ratio of 0.79. The business's fifty day simple moving average is $38.38 and its 200 day simple moving average is $38.48. Pembina Pipeline Co. has a one year low of $34.13 and a one year high of $43.44.

Pembina Pipeline (NYSE:PBA - Get Free Report) TSE: PPL last issued its quarterly earnings results on Thursday, May 8th. The pipeline company reported $0.80 earnings per share for the quarter, topping analysts' consensus estimates of $0.57 by $0.23. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.47 billion. Pembina Pipeline had a net margin of 25.39% and a return on equity of 13.62%. The firm's quarterly revenue was up 48.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.73 EPS. On average, sell-side analysts expect that Pembina Pipeline Co. will post 2.15 earnings per share for the current year.

Pembina Pipeline Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be paid a dividend of $0.5109 per share. The ex-dividend date is Monday, June 16th. This represents a $2.04 annualized dividend and a dividend yield of 5.46%. This is a positive change from Pembina Pipeline's previous quarterly dividend of $0.48. Pembina Pipeline's dividend payout ratio (DPR) is presently 86.76%.

About Pembina Pipeline

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.