CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Sells 23,540 Shares of Pembina Pipeline Co. (NYSE:PBA)

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lowered its holdings in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 1.6% during the third quarter, HoldingsChannel reports. The fund owned 1,406,265 shares of the pipeline company’s stock after selling 23,540 shares during the period. Pembina Pipeline accounts for about 4.3% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s investment portfolio, making the stock its 10th biggest holding. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s holdings in Pembina Pipeline were worth $57,994,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in PBA. Granite Group Advisors LLC boosted its stake in Pembina Pipeline by 5.2% during the 1st quarter. Granite Group Advisors LLC now owns 6,719 shares of the pipeline company’s stock worth $237,000 after purchasing an additional 330 shares during the period. EverSource Wealth Advisors LLC raised its position in Pembina Pipeline by 30.2% in the second quarter. EverSource Wealth Advisors LLC now owns 1,668 shares of the pipeline company’s stock worth $65,000 after acquiring an additional 387 shares in the last quarter. Gold Investment Management Ltd. lifted its holdings in Pembina Pipeline by 4.4% in the second quarter. Gold Investment Management Ltd. now owns 10,562 shares of the pipeline company’s stock valued at $392,000 after acquiring an additional 444 shares during the period. Oppenheimer Asset Management Inc. grew its stake in shares of Pembina Pipeline by 2.7% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 18,341 shares of the pipeline company’s stock worth $680,000 after purchasing an additional 478 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in Pembina Pipeline by 3.8% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 13,558 shares of the pipeline company’s stock worth $503,000 after buying an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 55.37% of the company’s stock.

Pembina Pipeline Stock Up 0.0 %

Shares of NYSE:PBA traded up $0.01 during trading on Tuesday, hitting $42.97. The company’s stock had a trading volume of 121,984 shares, compared to its average volume of 1,136,950. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.55 and a current ratio of 0.68. Pembina Pipeline Co. has a fifty-two week low of $30.23 and a fifty-two week high of $43.44. The stock’s 50-day moving average price is $40.87 and its two-hundred day moving average price is $38.22. The company has a market capitalization of $24.92 billion, a PE ratio of 18.64, a PEG ratio of 5.82 and a beta of 1.25.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last issued its earnings results on Thursday, August 8th. The pipeline company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.54 by $0.21. The company had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.44 billion. Pembina Pipeline had a return on equity of 13.68% and a net margin of 23.50%. The business’s revenue was up 30.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.45 EPS. As a group, sell-side analysts expect that Pembina Pipeline Co. will post 2.42 EPS for the current year.

Pembina Pipeline Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Monday, September 16th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 4.65%. Pembina Pipeline’s payout ratio is 88.70%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on PBA shares. UBS Group began coverage on Pembina Pipeline in a report on Wednesday, September 11th. They set a “neutral” rating for the company. Citigroup lifted their target price on shares of Pembina Pipeline from $53.00 to $56.00 and gave the company a “neutral” rating in a report on Wednesday, August 28th. Finally, Raymond James assumed coverage on Pembina Pipeline in a research report on Friday, October 11th. They issued an “outperform” rating on the stock. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $56.50.

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.