CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Purchases 110,042 Shares of Pembina Pipeline Corp. (NYSE:PBA)

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its holdings in Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL by 6.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,785,369 shares of the pipeline company's stock after acquiring an additional 110,042 shares during the quarter. Pembina Pipeline accounts for about 4.4% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT's holdings, making the stock its 12th biggest position. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT owned about 0.31% of Pembina Pipeline worth $71,468,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also modified their holdings of PBA. Principal Securities Inc. lifted its stake in shares of Pembina Pipeline by 2,597.1% during the fourth quarter. Principal Securities Inc. now owns 917 shares of the pipeline company's stock worth $34,000 after purchasing an additional 883 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Pembina Pipeline by 8.3% during the 4th quarter. Bank of New York Mellon Corp now owns 496,084 shares of the pipeline company's stock valued at $18,330,000 after purchasing an additional 38,140 shares during the period. Oppenheimer Asset Management Inc. raised its stake in Pembina Pipeline by 4.5% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 19,521 shares of the pipeline company's stock valued at $721,000 after acquiring an additional 846 shares in the last quarter. Oppenheimer & Co. Inc. grew its position in Pembina Pipeline by 17.2% in the 4th quarter. Oppenheimer & Co. Inc. now owns 8,084 shares of the pipeline company's stock valued at $299,000 after buying an additional 1,188 shares in the last quarter. Finally, US Bancorp DE increased its position in shares of Pembina Pipeline by 10.2% during the 4th quarter. US Bancorp DE now owns 12,303 shares of the pipeline company's stock valued at $455,000 after purchasing an additional 1,142 shares during the period. Institutional investors and hedge funds own 55.37% of the company's stock.

Pembina Pipeline Stock Performance

NYSE PBA traded down $0.20 during midday trading on Tuesday, hitting $37.31. The company had a trading volume of 1,169,786 shares, compared to its average volume of 1,298,048. The stock has a market cap of $21.67 billion, a price-to-earnings ratio of 16.88 and a beta of 0.76. The company has a quick ratio of 0.52, a current ratio of 0.64 and a debt-to-equity ratio of 0.75. Pembina Pipeline Corp. has a fifty-two week low of $34.13 and a fifty-two week high of $43.44. The firm has a fifty day simple moving average of $37.79 and a two-hundred day simple moving average of $37.50.

Pembina Pipeline (NYSE:PBA - Get Free Report) TSE: PPL last posted its quarterly earnings data on Thursday, May 8th. The pipeline company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.23. The firm had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.47 billion. Pembina Pipeline had a net margin of 23.73% and a return on equity of 12.61%. Pembina Pipeline's revenue was up 48.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.73 EPS. Equities analysts forecast that Pembina Pipeline Corp. will post 2.15 earnings per share for the current fiscal year.

Pembina Pipeline Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were paid a $0.5109 dividend. This is a positive change from Pembina Pipeline's previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Monday, June 16th. This represents a $2.04 annualized dividend and a yield of 5.48%. Pembina Pipeline's dividend payout ratio is currently 93.67%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Citigroup upgraded shares of Pembina Pipeline from a "neutral" rating to a "buy" rating in a research report on Monday, March 10th. National Bankshares upgraded Pembina Pipeline from a "sector perform" rating to an "outperform" rating in a research note on Thursday, June 26th. Barclays reissued an "overweight" rating on shares of Pembina Pipeline in a research note on Tuesday, June 3rd. Finally, National Bank Financial upgraded shares of Pembina Pipeline from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, June 25th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $56.00.

Pembina Pipeline Profile

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.