CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Raises Stock Position in Pembina Pipeline Co. (NYSE:PBA)

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its holdings in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 19.1% in the 4th quarter, HoldingsChannel reports. The firm owned 1,675,327 shares of the pipeline company’s stock after purchasing an additional 269,062 shares during the quarter. Pembina Pipeline makes up 4.1% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s holdings, making the stock its 12th biggest holding. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s holdings in Pembina Pipeline were worth $61,903,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company grew its stake in shares of Pembina Pipeline by 71.6% in the third quarter. The Manufacturers Life Insurance Company now owns 3,163,711 shares of the pipeline company’s stock worth $130,501,000 after acquiring an additional 1,319,709 shares in the last quarter. Intact Investment Management Inc. grew its stake in Pembina Pipeline by 83.2% during the 3rd quarter. Intact Investment Management Inc. now owns 1,976,934 shares of the pipeline company’s stock worth $81,498,000 after purchasing an additional 897,940 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Pembina Pipeline by 18.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,049,470 shares of the pipeline company’s stock worth $167,000,000 after purchasing an additional 624,958 shares during the period. Clearbridge Investments LLC raised its position in Pembina Pipeline by 2,256.3% in the 2nd quarter. Clearbridge Investments LLC now owns 649,778 shares of the pipeline company’s stock valued at $24,094,000 after purchasing an additional 622,202 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Pembina Pipeline by 55.3% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,600,000 shares of the pipeline company’s stock valued at $59,373,000 after buying an additional 570,000 shares during the period. 55.37% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on PBA. TD Securities assumed coverage on shares of Pembina Pipeline in a research note on Wednesday, January 15th. They set a “buy” rating on the stock. Barclays initiated coverage on shares of Pembina Pipeline in a report on Thursday, December 12th. They issued an “overweight” rating on the stock. Raymond James initiated coverage on shares of Pembina Pipeline in a research note on Friday, October 11th. They set an “outperform” rating for the company. Finally, Wells Fargo & Company cut Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $56.50.

Pembina Pipeline Price Performance

Shares of NYSE:PBA opened at $37.07 on Friday. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.65 and a quick ratio of 0.51. Pembina Pipeline Co. has a 12 month low of $32.81 and a 12 month high of $43.44. The firm has a market capitalization of $21.52 billion, a P/E ratio of 15.32 and a beta of 1.25. The company’s fifty day moving average price is $38.48 and its 200 day moving average price is $39.65.

Pembina Pipeline Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were issued a $0.69 dividend. This is an increase from Pembina Pipeline’s previous quarterly dividend of $0.50. This represents a $2.76 annualized dividend and a dividend yield of 7.44%. The ex-dividend date of this dividend was Monday, December 16th. Pembina Pipeline’s payout ratio is presently 80.58%.

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.