Pembina Pipeline Corp. $PBA Shares Sold by CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT

Key Points

• CUSHING ASSET MANAGEMENT LP has reduced its stake in Pembina Pipeline Corp. by 5.5%, now holding 1,687,100 shares after selling 98,269 shares in the second quarter.
• The recent quarterly dividend was increased to $0.71 per share, resulting in an annualized rate of $2.84 and a yield of 7.1%.
• Pembina Pipeline has received varied ratings from analysts, with a consensus rating of "Moderate Buy" and a mix of ratings including one Strong Buy and one Sell.

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT cut its holdings in Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL by 5.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,687,100 shares of the pipeline company's stock after selling 98,269 shares during the period. Pembina Pipeline makes up approximately 3.7% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT's investment portfolio, making the stock its 11th largest position. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT owned about 0.29% of Pembina Pipeline worth $63,283,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in PBA. First Horizon Advisors Inc. increased its stake in Pembina Pipeline by 69.9% in the 1st quarter. First Horizon Advisors Inc. now owns 673 shares of the pipeline company's stock worth $27,000 after buying an additional 277 shares in the last quarter. N.E.W. Advisory Services LLC acquired a new stake in shares of Pembina Pipeline during the first quarter valued at about $27,000. Larson Financial Group LLC grew its position in shares of Pembina Pipeline by 53.4% during the first quarter. Larson Financial Group LLC now owns 1,341 shares of the pipeline company's stock worth $54,000 after buying an additional 467 shares in the last quarter. Versant Capital Management Inc increased its holdings in shares of Pembina Pipeline by 108.3% in the 1st quarter. Versant Capital Management Inc now owns 1,525 shares of the pipeline company's stock valued at $61,000 after acquiring an additional 793 shares during the period. Finally, Dunhill Financial LLC lifted its position in shares of Pembina Pipeline by 42.6% during the 1st quarter. Dunhill Financial LLC now owns 1,925 shares of the pipeline company's stock valued at $77,000 after acquiring an additional 575 shares during the period. Institutional investors and hedge funds own 55.37% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on PBA shares. National Bankshares raised Pembina Pipeline from a "sector perform" rating to an "outperform" rating in a report on Thursday, June 26th. Wall Street Zen downgraded Pembina Pipeline from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. National Bank Financial raised shares of Pembina Pipeline from a "hold" rating to a "strong-buy" rating in a report on Wednesday, June 25th. Wells Fargo & Company lowered shares of Pembina Pipeline from a "hold" rating to a "strong sell" rating in a report on Wednesday, August 6th. Finally, Barclays reaffirmed an "overweight" rating on shares of Pembina Pipeline in a research note on Tuesday, June 3rd. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Pembina Pipeline presently has a consensus rating of "Moderate Buy".

Pembina Pipeline Trading Down 0.7%

NYSE PBA traded down $0.28 during trading on Monday, hitting $39.73. The company had a trading volume of 938,282 shares, compared to its average volume of 1,334,220. The company's fifty day moving average is $37.58 and its 200-day moving average is $37.78. The company has a current ratio of 0.77, a quick ratio of 0.62 and a debt-to-equity ratio of 0.81. The company has a market cap of $23.08 billion, a price-to-earnings ratio of 18.65 and a beta of 0.79. Pembina Pipeline Corp. has a one year low of $34.13 and a one year high of $43.44.

Pembina Pipeline Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 7.1%. The ex-dividend date of this dividend is Monday, September 15th. This is an increase from Pembina Pipeline's previous quarterly dividend of $0.51. Pembina Pipeline's dividend payout ratio is 96.24%.

Pembina Pipeline Company 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.