Legal & General Group Plc Invests $199.23 Million in Pembina Pipeline Corp. $PBA

Key Points

• Legal & General Group Plc acquired 4.31 million Pembina Pipeline shares worth approximately $199.23 million, giving it a 0.74% stake. Institutional investors collectively own 55.37% of the company.
• Analysts maintain a generally positive outlook, with five Buy ratings and four Holds resulting in a “Moderate Buy” consensus and an average price target of $64, compared with a share price of $48.61.
• Pembina declared a quarterly dividend of $0.735 per share, equivalent to a 6.0% annualized yield, despite reporting slightly lower-than-expected quarterly earnings and revenue.

Legal & General Group Plc bought a new stake in Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,307,512 shares of the pipeline company's stock, valued at approximately $199,230,000. Legal & General Group Plc owned about 0.74% of Pembina Pipeline at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Western Wealth Management LLC acquired a new position in Pembina Pipeline during the first quarter worth about $25,000. Dunhill Financial LLC purchased a new stake in shares of Pembina Pipeline during the second quarter worth about $31,000. N.E.W. Advisory Services LLC purchased a new stake in Pembina Pipeline during the 2nd quarter worth approximately $31,000. Tobam purchased a new stake in Pembina Pipeline during the 4th quarter worth approximately $28,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of Pembina Pipeline in the 3rd quarter valued at approximately $31,000. Hedge funds and other institutional investors own 55.37% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on PBA shares. Royal Bank Of Canada lifted their price target on shares of Pembina Pipeline from $64.00 to $68.00 and gave the stock an "outperform" rating in a research note on Monday, May 11th. Barclays reissued an "overweight" rating on shares of Pembina Pipeline in a research report on Thursday, May 21st. Weiss Ratings lowered shares of Pembina Pipeline from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, August 18th. Canadian Imperial Bank of Commerce reaffirmed an "outperform" rating on shares of Pembina Pipeline in a research report on Friday, July 3rd. Finally, Wall Street Zen upgraded Pembina Pipeline from a "sell" rating to a "hold" rating in a research note on Saturday, July 25th. Five investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Pembina Pipeline has a consensus rating of "Moderate Buy" and an average target price of $64.00.

Pembina Pipeline Trading Up 1.1%

NYSE PBA opened at $48.61 on Thursday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.50 and a current ratio of 0.62. Pembina Pipeline Corp. has a one year low of $36.20 and a one year high of $51.58. The company has a 50-day simple moving average of $48.51 and a 200-day simple moving average of $46.54. The firm has a market capitalization of $28.27 billion, a PE ratio of 23.83 and a beta of 0.57.

Pembina Pipeline (NYSE:PBA - Get Free Report) TSE: PPL last released its quarterly earnings data on Thursday, July 30th. The pipeline company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.01). Pembina Pipeline had a return on equity of 11.41% and a net margin of 22.41%.The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same quarter last year, the company earned $0.65 EPS. Pembina Pipeline's revenue was up 20.1% compared to the same quarter last year. On average, equities analysts forecast that Pembina Pipeline Corp. will post 2.23 earnings per share for the current year.

Pembina Pipeline Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be issued a $0.735 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $2.94 annualized dividend and a dividend yield of 6.0%. Pembina Pipeline's dividend payout ratio (DPR) is 104.41%.

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.

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