Pembina Pipeline Co. (NYSE:PBA) is CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT's 10th Largest Position

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT reduced its stake in shares of Pembina Pipeline Co. (NYSE:PBA - Free Report) TSE: PPL by 1.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,406,265 shares of the pipeline company's stock after selling 23,540 shares during the quarter. Pembina Pipeline comprises about 4.3% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT's investment portfolio, making the stock its 10th biggest position. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT owned 0.24% of Pembina Pipeline worth $57,994,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in PBA. Granite Group Advisors LLC grew its stake in shares of Pembina Pipeline by 5.2% during the first quarter. Granite Group Advisors LLC now owns 6,719 shares of the pipeline company's stock valued at $237,000 after buying an additional 330 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake 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 purchasing an additional 387 shares in the last quarter. Gold Investment Management Ltd. grew its stake 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 worth $392,000 after purchasing an additional 444 shares in the last quarter. Oppenheimer Asset Management Inc. grew its stake in Pembina Pipeline by 2.7% in the second 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 in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its stake in Pembina Pipeline by 3.8% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 13,558 shares of the pipeline company's stock worth $503,000 after purchasing an additional 500 shares in the last quarter. 55.37% of the stock is owned by institutional investors.

Pembina Pipeline Stock Up 0.0 %

Pembina Pipeline stock traded up $0.02 during mid-day trading on Tuesday, reaching $42.98. 617,990 shares of the company were exchanged, compared to its average volume of 999,349. The business has a fifty day moving average of $40.97 and a 200 day moving average of $38.27. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.55 and a current ratio of 0.68. The firm has a market cap of $24.94 billion, a P/E ratio of 17.91, a PEG ratio of 5.98 and a beta of 1.25. Pembina Pipeline Co. has a 12-month low of $30.23 and a 12-month high of $43.44.

Pembina Pipeline (NYSE:PBA - Get Free Report) TSE: PPL last posted its earnings results on Thursday, August 8th. The pipeline company reported $0.75 earnings per share for the quarter, topping analysts' consensus estimates 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%. Pembina Pipeline's revenue was up 30.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.45 earnings per share. Research analysts anticipate that Pembina Pipeline Co. will post 2.4 earnings per share for the current fiscal year.

Pembina Pipeline Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Monday, September 16th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 4.65%. Pembina Pipeline's dividend payout ratio is currently 85.00%.

Analysts Set New Price Targets

Several brokerages recently issued reports on PBA. UBS Group began coverage on Pembina Pipeline in a research note on Wednesday, September 11th. They issued a "neutral" rating on the stock. Raymond James began coverage on Pembina Pipeline in a research note on Friday, October 11th. They issued an "outperform" rating on the stock. Finally, Citigroup increased their price objective on Pembina Pipeline from $53.00 to $56.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 28th. Four 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.com, the stock presently has a consensus rating of "Hold" and a consensus price target 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.