CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Sells 218,588 Shares of Pembina Pipeline Corp. $PBA

Key Points

• Cushing Asset Management (dba NXG Investment Management) sold 218,588 shares of Pembina Pipeline, trimming its stake by 14% to 1,347,100 shares (about $51.27M), which represents roughly 2.9% of the fund's portfolio and ~0.23% ownership of Pembina.
• Pembina beat EPS estimates with $0.56 for the quarter versus $0.50 expected, but revenue fell to $1.02B (down 10.8% YoY and below the $1.41B consensus); the stock trades around $42.45 with a market cap of $24.68B and a P/E of 22.34.
• Dividend and analyst outlook: Pembina pays a $0.71 quarterly dividend (annualized $2.84) for a ~6.7% yield but a payout ratio of ~109.5%, and analysts hold a consensus "Hold" rating with an average target price of $60.

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lessened its stake in Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL by 14.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,347,100 shares of the pipeline company's stock after selling 218,588 shares during the quarter. Pembina Pipeline comprises about 2.9% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT's investment portfolio, making the stock its 14th largest holding. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT owned about 0.23% of Pembina Pipeline worth $51,271,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PBA. Caitong International Asset Management Co. Ltd bought a new stake in Pembina Pipeline in the third quarter valued at about $31,000. Westside Investment Management Inc. increased its holdings in Pembina Pipeline by 100.0% in the third quarter. Westside Investment Management Inc. now owns 808 shares of the pipeline company's stock valued at $32,000 after purchasing an additional 404 shares during the last quarter. Physician Wealth Advisors Inc. increased its holdings in Pembina Pipeline by 441.2% in the third quarter. Physician Wealth Advisors Inc. now owns 920 shares of the pipeline company's stock valued at $37,000 after purchasing an additional 750 shares during the last quarter. Golden State Wealth Management LLC bought a new stake in Pembina Pipeline in the third quarter valued at about $40,000. Finally, Larson Financial Group LLC increased its holdings in Pembina Pipeline by 32.4% in the third quarter. Larson Financial Group LLC now owns 1,059 shares of the pipeline company's stock valued at $43,000 after purchasing an additional 259 shares during the last quarter. Institutional investors own 55.37% of the company's stock.

Pembina Pipeline Stock Down 1.8%

Shares of Pembina Pipeline stock opened at $42.45 on Friday. Pembina Pipeline Corp. has a 1 year low of $35.45 and a 1 year high of $46.19. The business has a 50-day moving average of $44.28 and a two-hundred day moving average of $40.68. The company has a market capitalization of $24.68 billion, a P/E ratio of 22.34 and a beta of 0.62. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.61 and a quick ratio of 0.47.

Pembina Pipeline (NYSE:PBA - Get Free Report) TSE: PPL last announced its quarterly earnings results on Thursday, February 26th. The pipeline company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.06. Pembina Pipeline had a return on equity of 11.17% and a net margin of 21.76%.The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.41 billion. During the same period in the prior year, the company earned $0.92 earnings per share. The company's revenue for the quarter was down 10.8% compared to the same quarter last year. As a group, equities analysts predict that Pembina Pipeline Corp. will post 2.15 EPS for the current year.

Pembina Pipeline Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Monday, March 16th were issued a dividend of $0.71 per share. The ex-dividend date was Monday, March 16th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 6.7%. Pembina Pipeline's dividend payout ratio (DPR) is presently 109.47%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on PBA shares. Wall Street Zen upgraded Pembina Pipeline from a "sell" rating to a "hold" rating in a report on Saturday. TD Securities restated a "hold" rating on shares of Pembina Pipeline in a report on Wednesday, April 8th. BMO Capital Markets restated a "market perform" rating on shares of Pembina Pipeline in a report on Wednesday, April 8th. Weiss Ratings upgraded Pembina Pipeline from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, March 2nd. Finally, JPMorgan Chase & Co. increased their price target on Pembina Pipeline from $55.00 to $60.00 and gave the stock a "neutral" rating in a report on Thursday, March 19th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $60.00.

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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